WWE (WWE) Expected to Announce Quarterly Sales of $189.82 Million

Wall Street brokerages expect WWE (NYSE:WWE) to announce $189.82 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for WWE’s earnings. The highest sales estimate is $191.87 million and the lowest is $188.20 million. WWE reported sales of $188.40 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 0.8%. The company is expected to issue its next quarterly earnings results before the market opens on Thursday, May 3rd.

According to Zacks, analysts expect that WWE will report full year sales of $842.25 million for the current fiscal year, with estimates ranging from $820.02 million to $853.00 million. For the next fiscal year, analysts expect that the business will post sales of $894.13 million per share, with estimates ranging from $859.74 million to $912.78 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow WWE.

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WWE (NYSE:WWE) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.01. The firm had revenue of $211.60 million during the quarter, compared to the consensus estimate of $208.51 million. WWE had a return on equity of 20.50% and a net margin of 4.07%. The business’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the company earned $0.10 earnings per share.

A number of research firms have weighed in on WWE. Zacks Investment Research upgraded WWE from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research note on Tuesday. JPMorgan Chase downgraded WWE from an “overweight” rating to a “neutral” rating and set a $37.00 target price for the company. in a research note on Tuesday. Wells Fargo set a $43.00 target price on WWE and gave the stock a “buy” rating in a research note on Tuesday, April 10th. Guggenheim set a $44.00 target price on WWE and gave the stock a “buy” rating in a research note on Tuesday, April 10th. Finally, KeyCorp set a $43.00 target price on WWE and gave the stock a “buy” rating in a research note on Friday, April 6th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $39.27.

WWE stock traded down $0.52 during mid-day trading on Friday, reaching $38.96. The company had a trading volume of 724,521 shares, compared to its average volume of 861,810. The company has a quick ratio of 2.77, a current ratio of 2.83 and a debt-to-equity ratio of 0.83. The company has a market cap of $2,984.90, a price-to-earnings ratio of 59.97 and a beta of 0.88. WWE has a 52 week low of $19.12 and a 52 week high of $39.56.

The company also recently declared a quarterly dividend, which was paid on Monday, March 26th. Investors of record on Thursday, March 15th were paid a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, March 14th. This represents a $0.48 annualized dividend and a yield of 1.23%. WWE’s dividend payout ratio (DPR) is presently 73.85%.

In related news, SVP Blake Timothy Bilstad sold 1,419 shares of the business’s stock in a transaction on Sunday, February 11th. The stock was sold at an average price of $35.53, for a total value of $50,417.07. Following the completion of the sale, the senior vice president now directly owns 24,121 shares in the company, valued at approximately $857,019.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Mark Kowal sold 2,000 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $36.70, for a total value of $73,400.00. The disclosure for this sale can be found here. Insiders own 45.10% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WWE. Jane Street Group LLC bought a new stake in WWE in the 4th quarter valued at $11,159,000. Renaissance Technologies LLC boosted its stake in WWE by 71.3% in the 4th quarter. Renaissance Technologies LLC now owns 853,800 shares of the company’s stock valued at $26,109,000 after purchasing an additional 355,400 shares during the period. Fuller & Thaler Asset Management Inc. bought a new stake in WWE in the 4th quarter valued at $8,908,000. WINTON GROUP Ltd acquired a new position in WWE in the 4th quarter valued at $6,897,000. Finally, BlackRock Inc. raised its holdings in WWE by 3.8% in the 4th quarter. BlackRock Inc. now owns 4,889,363 shares of the company’s stock valued at $149,516,000 after acquiring an additional 179,730 shares in the last quarter. Institutional investors and hedge funds own 55.24% of the company’s stock.

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About WWE

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. The company operates through Network, Television, Home Entertainment, Digital Media, Live Events, Licensing, Venue Merchandise, WWEShop, and WWE Studios segments.

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