Shares of World Wrestling Entertainment, Inc. (NYSE:WWE – Get Rating) have been given an average rating of “Hold” by the eleven brokerages that are covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $67.78.
A number of equity analysts recently issued reports on WWE shares. Wolfe Research increased their price objective on World Wrestling Entertainment from $57.00 to $68.00 and gave the stock a “peer perform” rating in a report on Thursday, June 2nd. Barclays increased their price objective on World Wrestling Entertainment from $55.00 to $57.00 and gave the stock an “equal weight” rating in a report on Thursday, April 7th. TheStreet raised World Wrestling Entertainment from a “c+” rating to a “b-” rating in a report on Monday, May 16th. JPMorgan Chase & Co. increased their price target on World Wrestling Entertainment from $58.00 to $64.00 in a report on Thursday, April 21st. Finally, Guggenheim increased their price target on World Wrestling Entertainment from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, June 16th.
World Wrestling Entertainment Stock Down 0.5%
NYSE: WWE opened at $63.29 on Friday. The firm has a market capitalization of $4.71 billion, a PE ratio of 26.48 and a beta of 1.21. The stock has a 50-day moving average of $62.94 and a 200-day moving average of $58.97. World Wrestling Entertainment has a 52 week low of $46.81 and a 52 week high of $68.73. The company has a current ratio of 1.53, a quick ratio of 1.51 and a debt-to-equity ratio of 0.97.
World Wrestling Entertainment (NYSE:WWE – Get Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.09. World Wrestling Entertainment had a return on equity of 53.60% and a net margin of 17.40%. The business had revenue of $333.40 million during the quarter, compared to analyst estimates of $325.70 million. During the same period in the previous year, the company posted $0.51 EPS. The business’s revenue for the quarter was up 26.5% compared to the same quarter last year. Analysts predict that World Wrestling Entertainment will post 2.39 EPS for the current year.
World Wrestling Entertainment Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 27th. Shareholders of record on Wednesday, June 15th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date was Tuesday, June 14th. World Wrestling Entertainment’s payout ratio is currently 20.08%.
Insider Transactions at World Wrestling Entertainment
In other news, insider Kevin Dunn sold 15,000 shares of the business’s stock in a transaction on Friday, May 27th. The stock was sold at an average price of $66.70, for a total transaction of $1,000,500.00. Following the sale, the insider now directly owns 271,171 shares of the company’s stock, valued at $18,087,105.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 41.40% of the company’s stock.
Institutional Trading of World Wrestling Entertainment
Institutional investors and hedge funds have recently bought and sold shares of the stock. Quadrant Capital Group LLC raised its holdings in World Wrestling Entertainment by 270.3% during the 1st quarter. Quadrant Capital Group LLC now owns 437 shares of the company’s stock worth $27,000 after buying an additional 319 shares during the period. Signaturefd LLC raised its holdings in World Wrestling Entertainment by 67.6% during the 1st quarter. Signaturefd LLC now owns 491 shares of the company’s stock worth $31,000 after buying an additional 198 shares during the period. Parallel Advisors LLC increased its holdings in shares of World Wrestling Entertainment by 74.8% in the 1st quarter. Parallel Advisors LLC now owns 589 shares of the company’s stock valued at $37,000 after purchasing an additional 252 shares during the period. Ninety One SA PTY Ltd acquired a new position in shares of World Wrestling Entertainment in the 1st quarter valued at about $46,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of World Wrestling Entertainment in the 4th quarter valued at about $47,000. Institutional investors and hedge funds own 70.21% of the company’s stock.
World Wrestling Entertainment Company Profile
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 video content across various platforms, including WWE Network, broadcast and pay television, and digital and social media, as well as filmed entertainment.
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