World Wrestling Entertainment (WWE) Earns “Outperform” Rating from Wolfe Research

Wolfe Research reiterated their outperform rating on shares of World Wrestling Entertainment (NYSE:WWE) in a research report released on Thursday. Wolfe Research currently has a $105.00 price objective on the stock.

A number of other research analysts also recently commented on the stock. JPMorgan Chase & Co. raised their target price on shares of World Wrestling Entertainment to $95.00 and gave the company an overweight rating in a research report on Friday, February 8th. Zacks Investment Research raised shares of World Wrestling Entertainment from a hold rating to a strong-buy rating and set a $86.00 target price on the stock in a research report on Sunday, January 6th. Loop Capital assumed coverage on shares of World Wrestling Entertainment in a research report on Friday, December 21st. They set a hold rating and a $85.00 target price on the stock. KeyCorp set a $104.00 target price on shares of World Wrestling Entertainment and gave the company a buy rating in a research report on Wednesday, January 23rd. Finally, FBN Securities raised shares of World Wrestling Entertainment from a sector perform rating to an outperform rating in a research report on Tuesday, November 27th. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $99.31.

WWE stock traded up $2.03 during trading on Thursday, hitting $92.66. 372,244 shares of the company’s stock traded hands, compared to its average volume of 785,467. World Wrestling Entertainment has a 52 week low of $34.69 and a 52 week high of $97.69. The company has a quick ratio of 1.30, a current ratio of 1.33 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $6.83 billion, a P/E ratio of 82.73 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, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.14. The firm had revenue of $272.50 million during 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 business’s revenue was up 28.8% on a year-over-year basis. During the same quarter last year, the business earned $0.20 EPS. As a group, analysts anticipate that World Wrestling Entertainment will post 1.24 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 25th. Stockholders of record on Friday, March 15th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date is Thursday, March 14th. World Wrestling Entertainment’s payout ratio is currently 42.86%.

In other World Wrestling Entertainment news, insider George A. Barrios sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 27th. The shares were sold at an average price of $83.80, for a total transaction of $3,352,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider George A. Barrios sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, January 28th. The stock was sold at an average price of $81.52, for a total transaction of $4,891,200.00. Following the sale, the insider now directly owns 287,103 shares in the company, valued at approximately $23,404,636.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 137,500 shares of company stock worth $10,891,075. Insiders own 43.90% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in World Wrestling Entertainment by 1.1% during the 4th quarter. BlackRock Inc. now owns 5,331,594 shares of the company’s stock valued at $398,376,000 after acquiring an additional 58,542 shares during the period. FMR LLC lifted its stake in World Wrestling Entertainment by 529,456.5% during the 4th quarter. FMR LLC now owns 1,011,453 shares of the company’s stock valued at $75,576,000 after acquiring an additional 1,011,262 shares during the period. Geode Capital Management LLC lifted its stake in World Wrestling Entertainment by 16.6% during the 4th quarter. Geode Capital Management LLC now owns 504,124 shares of the company’s stock valued at $37,668,000 after acquiring an additional 71,849 shares during the period. Samlyn Capital LLC acquired a new stake in World Wrestling Entertainment during the 4th quarter valued at approximately $32,140,000. Finally, Norges Bank acquired a new stake in World Wrestling Entertainment during the 4th quarter valued at approximately $31,712,000. 63.21% of the stock is currently owned by institutional investors.

About World Wrestling Entertainment

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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