World Wrestling Entertainment (WWE) Price Target Raised to $36.00 at BTIG Research

World Wrestling Entertainment (NYSE:WWE) had its price target upped by BTIG Research to $36.00 in a research report issued on Monday, The Fly reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s price objective indicates a potential upside of 15.94% from the company’s current price.

Other analysts also recently issued research reports about the stock. Citigroup downgraded shares of World Wrestling Entertainment from a “buy” rating to a “neutral” rating in a report on Friday, December 22nd. Zacks Investment Research downgraded shares of World Wrestling Entertainment from a “buy” rating to a “hold” rating in a report on Monday, September 11th. FBN Securities downgraded shares of World Wrestling Entertainment from an “outperform” rating to a “sector perform” rating in a report on Monday, October 30th. JPMorgan Chase & Co. assumed coverage on shares of World Wrestling Entertainment in a report on Wednesday, December 6th. They issued an “overweight” rating for the company. Finally, Benchmark boosted their price objective on shares of World Wrestling Entertainment from $25.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, October 31st. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. World Wrestling Entertainment presently has a consensus rating of “Buy” and an average target price of $27.63.

Shares of World Wrestling Entertainment (NYSE:WWE) opened at $31.05 on Monday. The company has a market cap of $2,390.00, a PE ratio of 67.50, a P/E/G ratio of 2.47 and a beta of 0.86. The company has a debt-to-equity ratio of 0.83, a quick ratio of 2.62 and a current ratio of 2.68. World Wrestling Entertainment has a twelve month low of $18.36 and a twelve month high of $33.28.

World Wrestling Entertainment (NYSE:WWE) last announced its earnings results on Thursday, October 26th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.20 by $0.08. The business had revenue of $186.40 million during the quarter, compared to the consensus estimate of $176.19 million. World Wrestling Entertainment had a net margin of 4.56% and a return on equity of 17.05%. World Wrestling Entertainment’s revenue was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.14 EPS. analysts forecast that World Wrestling Entertainment will post 0.58 earnings per share for the current fiscal year.

In other news, CEO Vincent K. Mcmahon sold 3,340,000 shares of the business’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $28.68, for a total value of $95,791,200.00. Following the completion of the transaction, the chief executive officer now directly owns 3,340,000 shares in the company, valued at approximately $95,791,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Blake Timothy Bilstad sold 1,801 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $26.40, for a total transaction of $47,546.40. The disclosure for this sale can be found here. 49.80% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the company. Pinebridge Investments L.P. increased its position in World Wrestling Entertainment by 1.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 5,073 shares of the company’s stock worth $104,000 after purchasing an additional 51 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in World Wrestling Entertainment during the 3rd quarter worth approximately $176,000. Piedmont Investment Advisors LLC acquired a new position in World Wrestling Entertainment during the 3rd quarter worth approximately $201,000. FDx Advisors Inc. acquired a new position in World Wrestling Entertainment during the 3rd quarter worth approximately $219,000. Finally, Summit Securities Group LLC acquired a new position in World Wrestling Entertainment during the 3rd quarter worth approximately $236,000. Institutional investors own 49.75% of the company’s stock.

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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.

The Fly

Analyst Recommendations for World Wrestling Entertainment (NYSE:WWE)