World Wrestling Entertainment, Inc. (WWE) Receives $101.00 Consensus Target Price from Analysts

World Wrestling Entertainment, Inc. (NYSE:WWE) has been assigned an average rating of “Buy” from the sixteen analysts that are currently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $101.00.

A number of research firms recently issued reports on WWE. Zacks Investment Research downgraded shares of World Wrestling Entertainment from a “buy” rating to a “hold” rating and set a $105.00 target price for the company. in a research report on Saturday. Wolfe Research raised their price target on shares of World Wrestling Entertainment from $105.00 to $157.00 in a research report on Friday, March 15th. MKM Partners raised their price target on shares of World Wrestling Entertainment from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, March 26th. Cannonball Research cut World Wrestling Entertainment from a “buy” rating to a “neutral” rating and set a $88.00 price objective on the stock. in a research note on Monday, April 1st. Finally, JPMorgan Chase & Co. raised their price objective on World Wrestling Entertainment to $95.00 and gave the stock an “overweight” rating in a research note on Friday, February 8th.

NYSE:WWE opened at $98.10 on Friday. World Wrestling Entertainment has a fifty-two week low of $38.28 and a fifty-two week high of $99.25. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.30 and a current ratio of 1.33. The firm has a market cap of $7.59 billion, a PE ratio of 87.59 and a beta of 1.36.

World Wrestling Entertainment (NYSE:WWE) last released its earnings results on Thursday, February 7th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.14. The company had revenue of $272.50 million for the quarter, compared to analyst estimates of $255.01 million. World Wrestling Entertainment had a net margin of 10.71% and a return on equity of 34.02%. The firm’s quarterly revenue was up 28.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.20 EPS. As a group, equities research analysts expect that World Wrestling Entertainment will post 1.24 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 15th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.49%. The ex-dividend date was Thursday, March 14th. World Wrestling Entertainment’s dividend payout ratio is 42.86%.

In related news, insider George A. Barrios sold 40,000 shares of the company’s stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of $83.80, for a total value of $3,352,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider George A. Barrios sold 60,000 shares of the company’s stock in a transaction dated Monday, January 28th. The shares were sold at an average price of $81.52, for a total value of $4,891,200.00. Following the completion of the sale, the insider now owns 287,103 shares of the company’s stock, valued at approximately $23,404,636.56. The disclosure for this sale can be found here. In the last three months, insiders sold 3,304,427 shares of company stock worth $269,243,779. Insiders own 43.90% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Pearl River Capital LLC bought a new position in shares of World Wrestling Entertainment during the fourth quarter worth about $36,000. Cerebellum GP LLC acquired a new stake in shares of World Wrestling Entertainment in the fourth quarter valued at approximately $71,000. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of World Wrestling Entertainment in the fourth quarter valued at approximately $126,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of World Wrestling Entertainment by 11.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,505 shares of the company’s stock valued at $187,000 after buying an additional 259 shares during the last quarter. Finally, LPL Financial LLC bought a new position in shares of World Wrestling Entertainment during the third quarter worth approximately $219,000. Institutional investors and hedge funds own 64.11% 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 in 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.

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Analyst Recommendations for World Wrestling Entertainment (NYSE:WWE)

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