World Wrestling Entertainment, Inc. (WWE) Given Average Recommendation of “Buy” by Brokerages
Shares of World Wrestling Entertainment, Inc. (NYSE:WWE) have been given an average rating of “Buy” by the thirteen analysts that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $24.38.
Several brokerages have recently weighed in on WWE. ValuEngine raised World Wrestling Entertainment from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Morgan Stanley began coverage on World Wrestling Entertainment in a report on Friday, June 30th. They set an “equal weight” rating and a $23.00 price objective on the stock. Zacks Investment Research lowered World Wrestling Entertainment from a “buy” rating to a “hold” rating in a report on Monday, September 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $25.00 price target on shares of World Wrestling Entertainment in a research note on Tuesday, September 26th. Finally, BidaskClub lowered World Wrestling Entertainment from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th.
Shares of World Wrestling Entertainment (NYSE:WWE) traded down 0.451% during midday trading on Wednesday, hitting $23.185. 52,024 shares of the stock were exchanged. The firm’s market cap is $907.76 million. World Wrestling Entertainment has a 12-month low of $16.77 and a 12-month high of $23.88. The firm has a 50-day moving average price of $22.35 and a 200 day moving average price of $21.26.
World Wrestling Entertainment (NYSE:WWE) last announced its quarterly earnings data on Thursday, July 27th. The company reported $0.06 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.06. World Wrestling Entertainment had a return on equity of 13.07% and a net margin of 3.29%. The company had revenue of $214.60 million for the quarter, compared to analyst estimates of $209.28 million. During the same quarter last year, the firm earned $0.01 EPS. World Wrestling Entertainment’s revenue for the quarter was up 7.8% compared to the same quarter last year. Analysts predict that World Wrestling Entertainment will post $0.46 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 25th. Stockholders of record on Friday, September 15th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.06%. World Wrestling Entertainment’s payout ratio is currently 154.84%.
In related news, insider Basil V. Jr. Devito sold 25,537 shares of World Wrestling Entertainment stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $21.59, for a total transaction of $551,343.83. Following the completion of the sale, the insider now directly owns 65,616 shares of the company’s stock, valued at $1,416,649.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Kevin Dunn sold 72,286 shares of World Wrestling Entertainment stock in a transaction on Friday, August 25th. The stock was sold at an average price of $20.81, for a total value of $1,504,271.66. Following the sale, the insider now directly owns 379,559 shares of the company’s stock, valued at $7,898,622.79. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 173,231 shares of company stock valued at $3,660,354. 49.80% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the business. NGAM Advisors L.P. acquired a new position in World Wrestling Entertainment in the second quarter valued at about $207,000. Prudential Financial Inc. grew its stake in World Wrestling Entertainment by 0.6% in the first quarter. Prudential Financial Inc. now owns 65,268 shares of the company’s stock valued at $1,450,000 after acquiring an additional 400 shares during the period. Victory Capital Management Inc. acquired a new position in World Wrestling Entertainment in the first quarter valued at about $576,000. Swiss National Bank grew its stake in World Wrestling Entertainment by 8.3% in the first quarter. Swiss National Bank now owns 60,200 shares of the company’s stock valued at $1,338,000 after acquiring an additional 4,600 shares during the period. Finally, Capital One National Association grew its stake in World Wrestling Entertainment by 0.8% in the second quarter. Capital One National Association now owns 17,820 shares of the company’s stock valued at $363,000 after acquiring an additional 143 shares during the period. 49.49% of the stock is owned by hedge funds and other institutional investors.
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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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