Barclays began coverage on shares of World Wrestling Entertainment (NYSE:WWE) in a research report sent to investors on Monday, Analyst Ratings Network reports. The brokerage issued an equal weight rating and a $49.00 target price on the stock.
Several other analysts also recently commented on WWE. Zacks Investment Research downgraded World Wrestling Entertainment from a strong-buy rating to a hold rating and set a $42.00 price objective for the company. in a research note on Wednesday, September 30th. Rosenblatt Securities reduced their price objective on World Wrestling Entertainment from $57.00 to $50.00 and set a buy rating for the company in a research note on Friday, October 30th. Loop Capital raised World Wrestling Entertainment from a sell rating to a hold rating and increased their target price for the stock from $38.00 to $42.00 in a research note on Monday, September 14th. Berenberg Bank began coverage on World Wrestling Entertainment in a research note on Wednesday, September 30th. They set a buy rating for the company. Finally, MKM Partners cut their target price on World Wrestling Entertainment from $58.00 to $50.00 in a research note on Tuesday, October 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $50.07.
WWE opened at $50.18 on Monday. World Wrestling Entertainment has a 12 month low of $29.10 and a 12 month high of $64.45. The stock has a market capitalization of $3.90 billion, a price-to-earnings ratio of 30.05 and a beta of 1.42. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.29 and a quick ratio of 1.27. The business has a fifty day moving average price of $45.88 and a 200 day moving average price of $43.12.
World Wrestling Entertainment (NYSE:WWE) last released its earnings results on Thursday, October 29th. The company reported $0.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.22. The firm had revenue of $221.60 million during the quarter, compared to analysts’ expectations of $221.59 million. World Wrestling Entertainment had a return on equity of 48.59% and a net margin of 14.18%. World Wrestling Entertainment’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.06 EPS. On average, research analysts anticipate that World Wrestling Entertainment will post 1.52 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, December 28th. Investors of record on Tuesday, December 15th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date was Monday, December 14th. World Wrestling Entertainment’s dividend payout ratio is currently 56.47%.
In related news, insider Kevin Dunn sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, December 3rd. The stock was sold at an average price of $44.79, for a total value of $1,343,700.00. Corporate insiders own 40.20% of the company’s stock.
A number of large investors have recently made changes to their positions in WWE. Point72 Asset Management L.P. acquired a new stake in World Wrestling Entertainment during the 3rd quarter valued at $13,118,000. AQR Capital Management LLC grew its holdings in World Wrestling Entertainment by 780.2% during the 3rd quarter. AQR Capital Management LLC now owns 359,588 shares of the company’s stock valued at $14,553,000 after buying an additional 318,736 shares during the last quarter. Royce & Associates LP acquired a new stake in World Wrestling Entertainment during the 3rd quarter valued at $8,920,000. Wells Fargo & Company MN grew its holdings in World Wrestling Entertainment by 187.6% during the 3rd quarter. Wells Fargo & Company MN now owns 295,777 shares of the company’s stock valued at $11,969,000 after buying an additional 192,916 shares during the last quarter. Finally, Marathon Partners Equity Management LLC grew its holdings in World Wrestling Entertainment by 26.1% during the 3rd quarter. Marathon Partners Equity Management LLC now owns 725,000 shares of the company’s stock valued at $29,341,000 after buying an additional 150,000 shares during the last quarter. Hedge funds and other institutional investors own 67.50% of the company’s stock.
About World Wrestling Entertainment
World Wrestling Entertainment, Inc, an integrated media and entertainment company, engages in the sports entertainment business in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It operates through three segments: Media, Live Events, and Consumer Products. The Media segment engages in the production and monetization of long-form and short-form media content across various platforms, including WWE Network, pay television, and digital and social media, as well as filmed entertainment.
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.