World Wrestling Entertainment, Inc. (NYSE:WWE) Receives $56.86 Consensus PT from Analysts

World Wrestling Entertainment, Inc. (NYSE:WWE) has been assigned an average recommendation of “Buy” from the seventeen research firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $56.86.

Several research firms have recently weighed in on WWE. Citigroup cut their target price on shares of World Wrestling Entertainment from $58.00 to $55.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. Guggenheim lifted their target price on shares of World Wrestling Entertainment from $60.00 to $66.00 and gave the company a “buy” rating in a report on Friday, July 31st. Zacks Investment Research raised shares of World Wrestling Entertainment from a “hold” rating to a “strong-buy” rating and set a $52.00 price target for the company in a report on Tuesday, August 25th. JPMorgan Chase & Co. boosted their price target on shares of World Wrestling Entertainment from $42.00 to $44.00 and gave the stock a “neutral” rating in a report on Tuesday, July 7th. Finally, Rosenblatt Securities boosted their price target on shares of World Wrestling Entertainment from $55.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, July 30th.

In other news, insider Stephanie Levesque sold 57,573 shares of the business’s stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $39.18, for a total transaction of $2,255,710.14. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 40.20% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Private Advisor Group LLC acquired a new position in World Wrestling Entertainment in the second quarter valued at about $28,000. Macquarie Group Ltd. acquired a new position in World Wrestling Entertainment in the second quarter valued at about $50,000. PNC Financial Services Group Inc. lifted its position in World Wrestling Entertainment by 24.5% in the first quarter. PNC Financial Services Group Inc. now owns 1,465 shares of the company’s stock valued at $50,000 after buying an additional 288 shares during the last quarter. Stephenson National Bank & Trust lifted its position in World Wrestling Entertainment by 26.4% in the second quarter. Stephenson National Bank & Trust now owns 1,946 shares of the company’s stock valued at $85,000 after buying an additional 407 shares during the last quarter. Finally, Islay Capital Management LLC acquired a new position in World Wrestling Entertainment in the second quarter valued at about $99,000. 67.50% of the stock is currently owned by institutional investors.

Shares of NYSE WWE opened at $39.21 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.27 and a debt-to-equity ratio of 1.14. World Wrestling Entertainment has a 12 month low of $29.10 and a 12 month high of $73.97. The company has a 50 day simple moving average of $43.42 and a two-hundred day simple moving average of $42.62. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of 23.48 and a beta of 1.44.

World Wrestling Entertainment (NYSE:WWE) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.15 by $0.37. The business had revenue of $223.40 million during the quarter, compared to analysts’ expectations of $228.89 million. World Wrestling Entertainment had a net margin of 14.18% and a return on equity of 48.59%. Analysts forecast that World Wrestling Entertainment will post 1.55 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.12 per share. The ex-dividend date is Monday, September 14th. This represents a $0.48 annualized dividend and a dividend yield of 1.22%. World Wrestling Entertainment’s payout ratio is 56.47%.

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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