World Wrestling Entertainment, Inc. (WWE) Expected to Announce Earnings of $0.19 Per Share
Wall Street analysts forecast that World Wrestling Entertainment, Inc. (NYSE:WWE) will announce $0.19 earnings per share for the current quarter, Zacks reports. Two analysts have issued estimates for World Wrestling Entertainment’s earnings. The highest EPS estimate is $0.22 and the lowest is $0.17. World Wrestling Entertainment reported earnings of $0.10 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 90%. The firm is expected to announce its next quarterly earnings report on Thursday, February 8th.
On average, analysts expect that World Wrestling Entertainment will report full year earnings of $0.52 per share for the current fiscal year, with EPS estimates ranging from $0.45 to $0.57. For the next fiscal year, analysts anticipate that the company will report earnings of $0.61 per share, with EPS estimates ranging from $0.42 to $0.79. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow World Wrestling Entertainment.
World Wrestling Entertainment (NYSE:WWE) last posted its quarterly earnings results on Thursday, October 26th. The company reported $0.28 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.08. World Wrestling Entertainment had a net margin of 4.56% and a return on equity of 17.05%. The firm had revenue of $186.40 million for the quarter, compared to analysts’ expectations of $176.19 million. During the same quarter in the prior year, the company posted $0.14 earnings per share. The business’s revenue for the quarter was up 13.5% on a year-over-year basis.
A number of equities research analysts have recently commented on WWE shares. Zacks Investment Research upgraded shares of World Wrestling Entertainment from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Monday, July 31st. Benchmark Co. reiterated a “buy” rating and set a $25.00 price target (down previously from $26.00) on shares of World Wrestling Entertainment in a report on Sunday, July 30th. Needham & Company LLC reiterated a “buy” rating and set a $25.00 price target on shares of World Wrestling Entertainment in a report on Tuesday, September 26th. ValuEngine upgraded shares of World Wrestling Entertainment from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Finally, BidaskClub cut shares of World Wrestling Entertainment from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $25.25.
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Shares of World Wrestling Entertainment (WWE) opened at $27.11 on Wednesday. World Wrestling Entertainment has a fifty-two week low of $16.77 and a fifty-two week high of $27.29. The company has a current ratio of 2.68, a quick ratio of 2.62 and a debt-to-equity ratio of 0.83. The company has a market cap of $2,080.00, a P/E ratio of 49.77, a PEG ratio of 2.54 and a beta of 0.86.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 26th. Investors of record on Friday, December 15th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.77%. The ex-dividend date is Thursday, December 14th. World Wrestling Entertainment’s dividend payout ratio is currently 104.35%.
In other news, SVP Mark Kowal sold 4,750 shares of World Wrestling Entertainment stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $21.44, for a total transaction of $101,840.00. Following the transaction, the senior vice president now owns 17,011 shares in the company, valued at approximately $364,715.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction of $1,504,271.66. Following the transaction, the insider now owns 379,559 shares in the company, valued at approximately $7,898,622.79. The disclosure for this sale can be found here. Insiders sold 106,649 shares of company stock worth $2,255,029 in the last 90 days. 49.80% of the stock is currently owned by corporate insiders.
Several institutional investors have recently modified their holdings of WWE. BlackRock Inc. boosted its stake in shares of World Wrestling Entertainment by 116,814.6% during the 1st quarter. BlackRock Inc. now owns 4,426,388 shares of the company’s stock worth $98,355,000 after acquiring an additional 4,422,602 shares during the last quarter. EastBay Asset Management LLC boosted its stake in shares of World Wrestling Entertainment by 153.2% during the 2nd quarter. EastBay Asset Management LLC now owns 1,337,130 shares of the company’s stock worth $27,237,000 after acquiring an additional 809,130 shares during the last quarter. Davidson Kempner Capital Management LP boosted its stake in shares of World Wrestling Entertainment by 286.7% during the 2nd quarter. Davidson Kempner Capital Management LP now owns 725,000 shares of the company’s stock worth $14,768,000 after acquiring an additional 537,500 shares during the last quarter. Eagle Boston Investment Management Inc. boosted its stake in shares of World Wrestling Entertainment by 100.8% during the 2nd quarter. Eagle Boston Investment Management Inc. now owns 916,673 shares of the company’s stock worth $19,516,000 after acquiring an additional 460,117 shares during the last quarter. Finally, Heartland Advisors Inc. purchased a new position in shares of World Wrestling Entertainment during the 2nd quarter worth $6,938,000. Institutional investors and hedge funds own 49.59% 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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