MKM Partners began coverage on shares of World Wrestling Entertainment, Inc. (NYSE:WWE) in a research note published on Tuesday morning. The brokerage issued a buy rating and a $23.00 price target on the stock.
A number of other equities research analysts have also recently weighed in on WWE. Wells Fargo & Company cut World Wrestling Entertainment from an outperform rating to a market perform rating in a research note on Friday, October 28th. Needham & Company LLC restated a buy rating and issued a $25.00 price target on shares of World Wrestling Entertainment in a research note on Tuesday, October 4th. Zacks Investment Research cut World Wrestling Entertainment from a hold rating to a sell rating in a research note on Tuesday, September 27th. Finally, Deutsche Bank AG restated a sell rating on shares of World Wrestling Entertainment in a research note on Friday, October 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. World Wrestling Entertainment currently has an average rating of Hold and a consensus target price of $21.69.
Shares of World Wrestling Entertainment (NYSE:WWE) traded down 0.05% on Tuesday, hitting $18.97. The company’s stock had a trading volume of 258,649 shares. The stock’s 50-day moving average price is $18.81 and its 200-day moving average price is $19.49. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 59.10 and a beta of 0.69. World Wrestling Entertainment has a 52 week low of $14.20 and a 52 week high of $21.55.
World Wrestling Entertainment (NYSE:WWE) last announced its quarterly earnings data on Thursday, October 27th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by $0.04. World Wrestling Entertainment had a return on equity of 13.62% and a net margin of 3.51%. The company had revenue of $164.20 million for the quarter, compared to the consensus estimate of $107.40 million. During the same quarter in the prior year, the company earned $0.14 EPS. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. Equities analysts expect that World Wrestling Entertainment will post $0.45 earnings per share for the current fiscal year.
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The business also recently announced a quarterly dividend, which was paid on Tuesday, December 27th. Stockholders of record on Thursday, December 15th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.53%. The ex-dividend date was Tuesday, December 13th. World Wrestling Entertainment’s dividend payout ratio (DPR) is currently 154.84%.
Several hedge funds have recently added to or reduced their stakes in the company. Artemis Investment Management LLP bought a new stake in World Wrestling Entertainment during the second quarter valued at about $10,621,000. Bank of New York Mellon Corp raised its stake in World Wrestling Entertainment by 2.7% in the third quarter. Bank of New York Mellon Corp now owns 715,386 shares of the company’s stock valued at $15,237,000 after buying an additional 18,871 shares during the period. Principal Financial Group Inc. raised its stake in World Wrestling Entertainment by 2.8% in the second quarter. Principal Financial Group Inc. now owns 241,110 shares of the company’s stock valued at $4,439,000 after buying an additional 6,499 shares during the period. Bbva Compass Bancshares Inc. acquired a new stake in World Wrestling Entertainment during the second quarter valued at $197,000. Finally, Great Lakes Advisors LLC acquired a new stake in World Wrestling Entertainment during the third quarter valued at $3,028,000. 47.64% of the stock is currently owned by institutional investors.
About World Wrestling Entertainment
World Wrestling Entertainment, Inc (WWE) is a media and entertainment company. 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.
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