KeyCorp Comments on World Wrestling Entertainment, Inc.’s Q1 2019 Earnings (WWE)

World Wrestling Entertainment, Inc. (NYSE:WWE) – Stock analysts at KeyCorp issued their Q1 2019 earnings per share estimates for shares of World Wrestling Entertainment in a research report issued on Sunday. KeyCorp analyst E. Wingren forecasts that the company will post earnings per share of $0.17 for the quarter. KeyCorp currently has a “Overweight” rating and a $48.00 price objective on the stock. KeyCorp also issued estimates for World Wrestling Entertainment’s Q3 2019 earnings at $0.38 EPS.

World Wrestling Entertainment (NYSE:WWE) last issued its 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 analyst estimates of $208.51 million. World Wrestling Entertainment had a net margin of 4.07% and a return on equity of 20.50%. The business’s revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.10 earnings per share.

A number of other brokerages have also issued reports on WWE. MKM Partners reissued a “buy” rating and set a $44.00 target price (up from $41.00) on shares of World Wrestling Entertainment in a research note on Tuesday. Zacks Investment Research lowered shares of World Wrestling Entertainment from a “buy” rating to a “hold” rating in a research note on Saturday. Benchmark reaffirmed a “buy” rating and issued a $40.00 price objective (up from $28.00) on shares of World Wrestling Entertainment in a research note on Friday. Morgan Stanley raised shares of World Wrestling Entertainment from an “equal weight” rating to an “overweight” rating and set a $23.00 price objective for the company in a research note on Tuesday, January 30th. Finally, Needham & Company LLC upped their price objective on shares of World Wrestling Entertainment from $25.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $37.89.

Shares of World Wrestling Entertainment (WWE) traded up $0.17 on Tuesday, hitting $35.53. 334,230 shares of the stock were exchanged, compared to its average volume of 872,655. The stock has a market capitalization of $2,686.41, a price-to-earnings ratio of 86.03, a P/E/G ratio of 2.58 and a beta of 0.93. World Wrestling Entertainment has a 1 year low of $19.12 and a 1 year high of $36.91. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.83 and a quick ratio of 2.77.

A number of institutional investors have recently made changes to their positions in WWE. Cubist Systematic Strategies LLC bought a new position in World Wrestling Entertainment in the third quarter worth about $176,000. LS Investment Advisors LLC increased its holdings in shares of World Wrestling Entertainment by 31.6% during the fourth quarter. LS Investment Advisors LLC now owns 6,296 shares of the company’s stock valued at $193,000 after acquiring an additional 1,512 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new position in shares of World Wrestling Entertainment during the third quarter valued at about $201,000. FDx Advisors Inc. acquired a new position in shares of World Wrestling Entertainment during the third quarter valued at about $219,000. Finally, Summit Securities Group LLC acquired a new position in shares of World Wrestling Entertainment during the third quarter valued at about $236,000. Institutional investors and hedge funds own 49.59% of the company’s stock.

In related news, CEO Vincent K. Mcmahon sold 3,340,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 3,340,000 shares of the company’s stock, valued at $95,791,200. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 49.80% of the stock is owned by corporate insiders.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 26th. Investors of record on Thursday, March 15th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend is Wednesday, March 14th. World Wrestling Entertainment’s dividend payout ratio (DPR) is presently 117.08%.

ILLEGAL ACTIVITY WARNING: “KeyCorp Comments on World Wrestling Entertainment, Inc.’s Q1 2019 Earnings (WWE)” was originally published by American Banking News and is the property of of American Banking News. If you are accessing this report on another domain, it was illegally stolen and republished in violation of international copyright legislation. The correct version of this report can be read at https://www.americanbankingnews.com/2018/02/13/keycorp-comments-on-world-wrestling-entertainment-inc-s-q1-2019-earnings-wwe.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.

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