World Wrestling Entertainment (NYSE:WWE) had its price objective increased by JPMorgan Chase & Co. from $84.00 to $87.00 in a note issued to investors on Sunday. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s price target suggests a potential upside of 14.47% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Cannonball Research upgraded shares of World Wrestling Entertainment to a “buy” rating and set a $95.00 price target for the company in a report on Thursday, October 11th. Citigroup lifted their price target on shares of World Wrestling Entertainment from $69.00 to $85.00 and gave the stock a “neutral” rating in a report on Monday, August 27th. Wolfe Research initiated coverage on shares of World Wrestling Entertainment in a report on Friday. They set an “outperform” rating for the company. Guggenheim lifted their price target on shares of World Wrestling Entertainment from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, November 28th. Finally, KeyCorp reiterated a “buy” rating on shares of World Wrestling Entertainment in a report on Friday, October 26th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $87.42.

NYSE:WWE opened at $76.00 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.26 and a debt-to-equity ratio of 0.10. World Wrestling Entertainment has a twelve month low of $28.80 and a twelve month high of $97.69. The stock has a market cap of $5.86 billion, a price-to-earnings ratio of 116.92 and a beta of 1.13.

World Wrestling Entertainment (NYSE:WWE) last posted its earnings results on Thursday, October 25th. The company reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.18. World Wrestling Entertainment had a net margin of 7.27% and a return on equity of 27.69%. The firm had revenue of $188.40 million during the quarter, compared to the consensus estimate of $203.08 million. On average, research analysts forecast that World Wrestling Entertainment will post 0.93 EPS for the current year.

In related news, insider George A. Barrios sold 37,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 27th. The shares were sold at an average price of $64.99, for a total value of $2,437,125.00. Following the sale, the insider now directly owns 394,407 shares of the company’s stock, valued at $25,632,510.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Vincent K. Mcmahon sold 306,000 shares of the firm’s stock in a transaction that occurred on Friday, November 30th. The stock was sold at an average price of $74.73, for a total transaction of $22,867,380.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 396,000 shares of company stock valued at $30,335,605. Insiders own 45.10% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of World Wrestling Entertainment by 48.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,246 shares of the company’s stock worth $164,000 after acquiring an additional 734 shares during the last quarter. Strs Ohio acquired a new stake in shares of World Wrestling Entertainment in the second quarter worth approximately $167,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of World Wrestling Entertainment in the second quarter worth approximately $212,000. Hartford Investment Management Co. acquired a new stake in shares of World Wrestling Entertainment in the third quarter worth approximately $214,000. Finally, LPL Financial LLC acquired a new stake in shares of World Wrestling Entertainment in the third quarter worth approximately $219,000. 59.92% of the stock is currently owned by institutional investors and hedge funds.

About World Wrestling Entertainment

World Wrestling Entertainment, Inc, an integrated media and entertainment company, engages in the sports entertainment business in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates through Network, Television, Home Entertainment, Digital Media, Live Events, Licensing, Venue Merchandise, WWEShop, and WWE Studios segments.

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Analyst Recommendations for World Wrestling Entertainment (NYSE:WWE)

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