World Wrestling Entertainment, Inc. (WWE) Receives Average Recommendation of “Hold” from Brokerages
World Wrestling Entertainment, Inc. (NYSE:WWE) has been assigned a consensus recommendation of “Hold” from the thirteen analysts that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $24.23.
Several equities research analysts have commented on the stock. BTIG Research reaffirmed a “buy” rating and set a $25.00 price objective on shares of World Wrestling Entertainment in a report on Sunday, April 2nd. Needham & Company LLC reissued a “buy” rating and issued a $25.00 price target on shares of World Wrestling Entertainment in a report on Tuesday, April 4th. ValuEngine raised shares of World Wrestling Entertainment from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. TheStreet raised shares of World Wrestling Entertainment from a “c+” rating to a “b-” rating in a report on Thursday, May 4th. Finally, Zacks Investment Research raised shares of World Wrestling Entertainment from a “sell” rating to a “hold” rating in a report on Thursday, July 13th.
Shares of World Wrestling Entertainment (NYSE:WWE) traded down 3.29% during mid-day trading on Friday, reaching $21.17. 1,301,068 shares of the company’s stock traded hands. The company has a market cap of $1.62 billion, a P/E ratio of 78.41 and a beta of 0.82. The firm has a 50-day moving average of $20.78 and a 200 day moving average of $20.72. World Wrestling Entertainment has a 12-month low of $16.77 and a 12-month high of $23.14.
World Wrestling Entertainment (NYSE:WWE) last released its quarterly earnings data on Thursday, July 27th. The company reported $0.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.01. The business had revenue of $214.60 million for the quarter, compared to the consensus estimate of $209.28 million. World Wrestling Entertainment had a net margin of 2.79% and a return on equity of 11.35%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.01 earnings per share. Equities analysts forecast that World Wrestling Entertainment will post $0.45 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 25th. Shareholders of record on Friday, September 15th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Thursday, September 14th. World Wrestling Entertainment’s payout ratio is currently 184.62%.
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Hedge funds and other institutional investors have recently modified their holdings of the stock. Comerica Bank boosted its position in shares of World Wrestling Entertainment by 9.8% in the fourth quarter. Comerica Bank now owns 40,814 shares of the company’s stock valued at $795,000 after buying an additional 3,643 shares in the last quarter. State Street Corp raised its stake in shares of World Wrestling Entertainment by 7.7% in the fourth quarter. State Street Corp now owns 756,551 shares of the company’s stock worth $13,922,000 after buying an additional 54,238 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of World Wrestling Entertainment by 305.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 199,266 shares of the company’s stock worth $3,666,000 after buying an additional 150,137 shares during the last quarter. New York State Teachers Retirement System raised its stake in shares of World Wrestling Entertainment by 9.7% in the fourth quarter. New York State Teachers Retirement System now owns 14,700 shares of the company’s stock worth $270,000 after buying an additional 1,300 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in shares of World Wrestling Entertainment by 10.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 20,700 shares of the company’s stock worth $381,000 after buying an additional 1,880 shares during the last quarter. Institutional investors and hedge funds own 49.54% of the company’s stock.
About World Wrestling Entertainment
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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