World Wrestling Entertainment Coverage Initiated at Needham & Company LLC (WWE)
Equities researchers at Needham & Company LLC assumed coverage on shares of World Wrestling Entertainment (NYSE:WWE) in a research report issued on Tuesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $30.00 price target on the stock. Needham & Company LLC’s price target would suggest a potential upside of 50.08% from the stock’s previous close.
Shares of World Wrestling Entertainment (NYSE:WWE) opened at 20.45 on Tuesday. World Wrestling Entertainment has a 1-year low of $8.56 and a 1-year high of $31.98. The stock’s 50-day moving average is $27.04 and its 200-day moving average is $18.74. The company has a market cap of $1.537 billion and a price-to-earnings ratio of 540.27.
World Wrestling Entertainment (NYSE:WWE) last released its earnings data on Thursday, February 20th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by $0.05. The company had revenue of $118.40 million for the quarter, compared to the consensus estimate of $116.08 million. Analysts expect that World Wrestling Entertainment will post $-0.09 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Sidoti upgraded shares of World Wrestling Entertainment from a “neutral” rating to a “buy” rating in a research note on Monday, April 7th. Separately, analysts at National Alliance Securities raised their price target on shares of World Wrestling Entertainment from $20.46 to $32.85 in a research note on Thursday, March 6th. They now have a “hold” rating on the stock. They noted that the move was a valuation call. Finally, analysts at National Alliance Securities downgraded shares of World Wrestling Entertainment from a “buy” rating to a “hold” rating in a research note on Monday, January 27th. They now have a $20.46 price target on the stock. They noted that the move was a valuation call. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $21.46.
World Wrestling Entertainment, Inc (NYSE:WWE) is an integrated media and entertainment company, principally engaged in the development, production and marketing of television and pay-per-view event programming and live events and the licensing and sale of consumer products featuring its brands.
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