World Wrestling Entertainment, Inc. (NYSE:WWE) declared a quarterly dividend on Thursday, October 19th, RTT News reports. Stockholders of record on Friday, December 15th will be given a dividend of 0.12 per share on Tuesday, December 26th. This represents a $0.48 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is Thursday, December 14th.
World Wrestling Entertainment has a payout ratio of 102.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect World Wrestling Entertainment to earn $0.64 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 75.0%.
Shares of World Wrestling Entertainment (NYSE WWE) traded up 6.93% during midday trading on Friday, reaching $26.09. The company’s stock had a trading volume of 1,941,162 shares. The stock has a 50-day moving average of $22.82 and a 200 day moving average of $21.34. The firm has a market capitalization of $2.01 billion, a P/E ratio of 79.54 and a beta of 0.84. World Wrestling Entertainment has a 12-month low of $16.77 and a 12-month high of $26.26.
World Wrestling Entertainment (NYSE:WWE) last released its quarterly earnings data on Thursday, October 26th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.08. World Wrestling Entertainment had a net margin of 4.56% and a return on equity of 17.05%. The company had revenue of $186.40 million during the quarter, compared to the consensus estimate of $176.19 million. During the same period in the previous year, the firm earned $0.14 earnings per share. World Wrestling Entertainment’s revenue for the quarter was up 13.5% on a year-over-year basis. Equities research analysts predict that World Wrestling Entertainment will post $0.46 EPS for the current fiscal year.
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In other World Wrestling Entertainment news, CRO Michelle D. Wilson sold 55,000 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $21.25, for a total transaction of $1,168,750.00. Following the sale, the executive now directly owns 436,174 shares of the company’s stock, valued at $9,268,697.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Casey Collins sold 13,383 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $21.23, for a total transaction of $284,121.09. Following the sale, the executive vice president now directly owns 43,926 shares in the company, valued at $932,548.98. The disclosure for this sale can be found here. Insiders sold 173,231 shares of company stock worth $3,660,354 over the last ninety days. 49.80% of the stock is currently owned by corporate insiders.
A number of research firms have recently commented on WWE. Zacks Investment Research cut shares of World Wrestling Entertainment from a “buy” rating to a “hold” rating in a research report on Thursday, October 12th. Needham & Company LLC reissued a “buy” rating and set a $25.00 target price on shares of World Wrestling Entertainment in a research report on Tuesday, September 26th. KeyCorp reissued a “hold” rating on shares of World Wrestling Entertainment in a research report on Tuesday, October 17th. ValuEngine raised shares of World Wrestling Entertainment from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Benchmark Co. reissued a “buy” rating and set a $25.00 target price (down from $26.00) on shares of World Wrestling Entertainment in a research report on Sunday, July 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. World Wrestling Entertainment currently has a consensus rating of “Hold” and a consensus price target of $24.38.
About World Wrestling Entertainment
World Wrestling Entertainment, Inc (WWE) is an integrated media and entertainment company. The Company’s segments are Network, Television, Home Entertainment, Digital Media, Live Events, Licensing, Venue Merchandise, WWEShop, WWE Studios, and Corporate and Other. 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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