World Wrestling Entertainment, Inc. (WWE) Receives $25.25 Average Target Price from Brokerages
Shares of World Wrestling Entertainment, Inc. (NYSE:WWE) have been given a consensus rating of “Buy” by the thirteen ratings firms that are presently covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $25.25.
Several research firms have issued reports on WWE. Zacks Investment Research raised World Wrestling Entertainment from a “hold” rating to a “strong-buy” rating and set a $28.00 price target for the company in a report on Monday, October 30th. ValuEngine raised World Wrestling Entertainment from a “sell” rating to a “hold” rating in a report on Friday, September 1st. KeyCorp reissued a “hold” rating on shares of World Wrestling Entertainment in a report on Tuesday, October 17th. Benchmark boosted their price target on World Wrestling Entertainment from $25.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, October 31st. Finally, FBN Securities lowered World Wrestling Entertainment from an “outperform” rating to a “sector perform” rating in a report on Monday, October 30th.
In other news, SVP Mark Kowal sold 2,275 shares of the business’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $21.99, for a total value of $50,027.25. Following the transaction, the senior vice president now directly owns 14,736 shares in the company, valued at $324,044.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Basil V. Jr. Devito sold 25,537 shares of the business’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $21.59, for a total value of $551,343.83. Following the completion of the transaction, the insider now owns 65,616 shares in the company, valued at $1,416,649.44. The disclosure for this sale can be found here. Insiders sold 29,613 shares of company stock worth $648,917 over the last 90 days. Company insiders own 49.80% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Lindsell Train Ltd raised its position in World Wrestling Entertainment by 2.1% during the third quarter. Lindsell Train Ltd now owns 7,232,868 shares of the company’s stock valued at $170,334,000 after purchasing an additional 150,000 shares during the period. BlackRock Inc. raised its position in World Wrestling Entertainment by 1.4% during the second quarter. BlackRock Inc. now owns 4,487,555 shares of the company’s stock valued at $91,410,000 after purchasing an additional 61,167 shares during the period. EastBay Asset Management LLC raised its position in World Wrestling Entertainment by 153.2% during the second quarter. EastBay Asset Management LLC now owns 1,337,130 shares of the company’s stock valued at $27,237,000 after purchasing an additional 809,130 shares during the period. Eagle Boston Investment Management Inc. raised its position in World Wrestling Entertainment by 100.8% during the second quarter. Eagle Boston Investment Management Inc. now owns 916,673 shares of the company’s stock valued at $19,516,000 after purchasing an additional 460,117 shares during the period. Finally, State Street Corp raised its position in World Wrestling Entertainment by 5.5% during the second quarter. State Street Corp now owns 872,209 shares of the company’s stock valued at $17,763,000 after purchasing an additional 45,601 shares during the period. Institutional investors own 49.84% of the company’s stock.
Shares of World Wrestling Entertainment (NYSE WWE) traded up $0.27 on Thursday, hitting $28.76. The company had a trading volume of 455,703 shares, compared to its average volume of 562,538. The company has a quick ratio of 2.62, a current ratio of 2.68 and a debt-to-equity ratio of 0.83. World Wrestling Entertainment has a one year low of $18.00 and a one year high of $28.77. The company has a market capitalization of $2,217.60, a price-to-earnings ratio of 54.26, a P/E/G ratio of 2.60 and a beta of 0.87.
World Wrestling Entertainment (NYSE:WWE) last issued its quarterly earnings data on Thursday, October 26th. The company reported $0.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.08. World Wrestling Entertainment had a return on equity of 17.05% and a net margin of 4.56%. The company had revenue of $186.40 million during the quarter, compared to analyst estimates of $176.19 million. During the same quarter in the previous year, the company posted $0.14 earnings per share. World Wrestling Entertainment’s revenue was up 13.5% compared to the same quarter last year. research analysts anticipate that World Wrestling Entertainment will post 0.55 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 26th. Stockholders of record on Friday, December 15th will be given a $0.12 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.48 annualized dividend and a dividend yield of 1.67%. World Wrestling Entertainment’s payout ratio is 106.67%.
World Wrestling Entertainment Company Profile
World Wrestling Entertainment, Inc (WWE) is an integrated media and entertainment company. The Company’s segments are Network, Television, Home Entertainment, Digital Media, Live Events, Licensing, Venue Merchandise, WWEShop, WWE Studios, and Corporate and Other. The Company is engaged in the production and distribution of content through various channels, including its WWE Network, television rights agreements, pay-per-view event programming, live events, feature films, licensing of various WWE themed products, and the sale of consumer products featuring its brands.
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