World Wrestling Entertainment (WWE) Upgraded to Overweight by KeyCorp

World Wrestling Entertainment (NYSE:WWE) was upgraded by analysts at KeyCorp from a “sector weight” rating to an “overweight” rating in a research report issued to clients and investors on Monday, MarketBeat.com reports. The brokerage currently has a $48.00 price objective on the stock. KeyCorp’s target price indicates a potential upside of 35.75% from the stock’s current price.

WWE has been the subject of a number of other research reports. Zacks Investment Research upgraded World Wrestling Entertainment from a “hold” rating to a “strong-buy” rating and set a $28.00 target price for the company in a research report on Monday, October 30th. Morgan Stanley upgraded World Wrestling Entertainment from an “equal weight” rating to an “overweight” rating and set a $23.00 target price for the company in a research report on Tuesday, January 30th. Benchmark boosted their target price on World Wrestling Entertainment from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, October 31st. BTIG Research boosted their target price on World Wrestling Entertainment to $36.00 and gave the stock a “buy” rating in a research report on Monday, January 8th. Finally, Guggenheim set a $40.00 target price on World Wrestling Entertainment and gave the stock a “buy” rating in a research report on Thursday, January 11th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $37.13.

Shares of World Wrestling Entertainment (NYSE:WWE) traded up $0.52 on Monday, hitting $35.36. The stock had a trading volume of 992,220 shares, compared to its average volume of 891,332. The company has a market cap of $2,730.00, a P/E ratio of 84.19, a PEG ratio of 2.58 and a beta of 0.93. The company has a current ratio of 2.83, a quick ratio of 2.77 and a debt-to-equity ratio of 0.83. World Wrestling Entertainment has a 12-month low of $19.12 and a 12-month high of $36.91.

World Wrestling Entertainment (NYSE:WWE) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.01. The firm had revenue of $211.60 million during the quarter, compared to the consensus estimate of $208.51 million. World Wrestling Entertainment had a return on equity of 20.50% and a net margin of 4.07%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the company posted $0.10 EPS. equities research analysts expect that World Wrestling Entertainment will post 0.68 EPS for the current year.

In other World Wrestling Entertainment news, CEO Vincent K. Mcmahon sold 3,340,000 shares of World Wrestling Entertainment stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $28.68, for a total value of $95,791,200.00. Following the transaction, the chief executive officer now directly owns 3,340,000 shares of the company’s stock, valued at approximately $95,791,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 49.80% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in the business. Lindsell Train Ltd increased its stake in World Wrestling Entertainment by 2.1% in the 3rd quarter. Lindsell Train Ltd now owns 7,232,868 shares of the company’s stock worth $170,334,000 after purchasing an additional 150,000 shares during the period. BlackRock Inc. increased its stake in World Wrestling Entertainment by 3.8% in the 4th quarter. BlackRock Inc. now owns 4,889,363 shares of the company’s stock worth $149,516,000 after purchasing an additional 179,730 shares during the period. State Street Corp increased its stake in World Wrestling Entertainment by 5.5% in the 2nd quarter. State Street Corp now owns 872,209 shares of the company’s stock worth $17,763,000 after purchasing an additional 45,601 shares during the period. Davidson Kempner Capital Management LP increased its stake in World Wrestling Entertainment by 286.7% in the 2nd quarter. Davidson Kempner Capital Management LP now owns 725,000 shares of the company’s stock worth $14,768,000 after purchasing an additional 537,500 shares during the period. Finally, Sirios Capital Management L P increased its stake in World Wrestling Entertainment by 19.8% in the 4th quarter. Sirios Capital Management L P now owns 718,392 shares of the company’s stock worth $21,969,000 after purchasing an additional 118,658 shares during the period. 49.59% of the stock is currently owned by institutional investors and hedge funds.

WARNING: “World Wrestling Entertainment (WWE) Upgraded to Overweight by KeyCorp” was published by American Banking News and is owned by of American Banking News. If you are viewing this piece of content on another site, it was copied illegally and republished in violation of U.S. and international copyright and trademark legislation. The original version of this piece of content can be viewed at https://www.americanbankingnews.com/2018/02/12/world-wrestling-entertainment-wwe-upgraded-to-overweight-by-keycorp.html.

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.

Analyst Recommendations for World Wrestling Entertainment (NYSE:WWE)

Receive News & Ratings for World Wrestling Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for World Wrestling Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply