World Wrestling Entertainment (NYSE:WWE) Receives New Coverage from Analysts at Citigroup

Citigroup started coverage on shares of World Wrestling Entertainment (NYSE:WWE) in a research report sent to investors on Tuesday, The Fly reports. The firm issued a buy rating and a $85.00 target price on the stock.

Other equities research analysts also recently issued research reports about the stock. Guggenheim restated a buy rating and issued a $100.00 price target (down previously from $105.00) on shares of World Wrestling Entertainment in a research report on Tuesday, June 25th. Loop Capital upgraded shares of World Wrestling Entertainment from a hold rating to a buy rating and upped their price target for the company from $85.00 to $100.00 in a research report on Thursday, May 2nd. Morgan Stanley reduced their price target on shares of World Wrestling Entertainment from $90.00 to $85.00 and set an overweight rating for the company in a research report on Friday, July 26th. ValuEngine downgraded shares of World Wrestling Entertainment from a buy rating to a hold rating in a research report on Tuesday, July 2nd. Finally, Benchmark upgraded shares of World Wrestling Entertainment from a hold rating to a buy rating and set a $90.00 price target for the company in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $101.25.

Shares of NYSE:WWE opened at $69.61 on Tuesday. The stock has a market capitalization of $5.48 billion, a price-to-earnings ratio of 62.15 and a beta of 1.37. World Wrestling Entertainment has a 1-year low of $58.50 and a 1-year high of $100.45. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.21 and a current ratio of 1.24. The company has a 50 day moving average price of $71.42 and a 200 day moving average price of $80.65.

World Wrestling Entertainment (NYSE:WWE) last issued its earnings results on Thursday, July 25th. The company reported $0.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.14. The firm had revenue of $268.90 million during the quarter, compared to analysts’ expectations of $271.21 million. World Wrestling Entertainment had a net margin of 8.42% and a return on equity of 23.92%. The firm’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same period last year, the firm posted $0.11 earnings per share. On average, sell-side analysts expect that World Wrestling Entertainment will post 0.99 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Friday, September 13th will be given a $0.12 dividend. The ex-dividend date is Thursday, September 12th. This represents a $0.48 annualized dividend and a dividend yield of 0.69%. World Wrestling Entertainment’s dividend payout ratio (DPR) is presently 42.86%.

In other World Wrestling Entertainment news, Director Patricia A. Gottesman sold 4,112 shares of the stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $72.92, for a total value of $299,847.04. Following the completion of the sale, the director now owns 20,644 shares in the company, valued at approximately $1,505,360.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider George A. Barrios sold 74,678 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $70.06, for a total transaction of $5,231,940.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 255,047 shares of company stock valued at $17,794,397. 43.90% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Lindsell Train Ltd lifted its position in World Wrestling Entertainment by 20.2% in the 2nd quarter. Lindsell Train Ltd now owns 7,168,643 shares of the company’s stock worth $518,436,000 after buying an additional 1,205,461 shares in the last quarter. Wells Fargo & Company MN lifted its position in World Wrestling Entertainment by 10.8% in the 2nd quarter. Wells Fargo & Company MN now owns 1,228,530 shares of the company’s stock worth $88,712,000 after buying an additional 119,861 shares in the last quarter. Clearbridge Investments LLC lifted its position in World Wrestling Entertainment by 0.9% in the 1st quarter. Clearbridge Investments LLC now owns 1,106,935 shares of the company’s stock worth $96,060,000 after buying an additional 9,362 shares in the last quarter. Nuveen Asset Management LLC lifted its position in World Wrestling Entertainment by 5,475.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 966,210 shares of the company’s stock worth $69,770,000 after buying an additional 948,879 shares in the last quarter. Finally, Northern Trust Corp lifted its position in World Wrestling Entertainment by 1.3% in the 2nd quarter. Northern Trust Corp now owns 782,971 shares of the company’s stock worth $56,538,000 after buying an additional 10,428 shares in the last quarter. Institutional investors own 68.33% 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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