Zacks Investment Research lowered shares of World Wrestling Entertainment (NYSE:WWE) from a buy rating to a hold rating in a report published on Saturday.
According to Zacks, “World Wrestling Entertainment’s focus on increasing original content production, localization, subscriber growth, rise in TV rights fees and strategic initiatives have helped the stock to outperform the industry a year. Further, in the third-quarter fiscal 2017 the company not only reported better-than-expected results but also witnessed sharp increase in both the top and bottom lines. The company will continue to report record revenue growth as it has not only extended its earlier deal with different companies but also signed agreement with new service provider for airing its flagship program Raw and SmackDown in different countries. Management is optimistic about achieving another great year of revenues and adjusted OIBDA growth. However, continuous decline in pay-per-view and home entertainment revenues remains concerns.”
Several other research firms have also recently issued reports on WWE. Citigroup cut shares of World Wrestling Entertainment from a buy rating to a neutral rating and boosted their price objective for the company from $29.00 to $33.00 in a research report on Saturday, December 30th. JPMorgan Chase & Co. initiated coverage on shares of World Wrestling Entertainment in a research report on Wednesday, December 6th. They issued an overweight rating for the company. Benchmark reissued a buy rating and issued a $40.00 price objective (up from $28.00) on shares of World Wrestling Entertainment in a research report on Friday. Wells Fargo & Co raised shares of World Wrestling Entertainment from a market perform rating to an outperform rating in a research report on Thursday, January 4th. Finally, Needham & Company LLC boosted their price objective on shares of World Wrestling Entertainment from $25.00 to $38.00 and gave the company a buy rating in a research report on Wednesday, January 24th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $35.57.
World Wrestling Entertainment (NYSE:WWE) opened at $34.84 on Friday. World Wrestling Entertainment has a 52 week low of $19.12 and a 52 week high of $36.91. The company has a current ratio of 2.83, a quick ratio of 2.62 and a debt-to-equity ratio of 0.83. The company has a market cap of $2,686.41, a PE ratio of 54.44, a P/E/G ratio of 2.58 and a beta of 0.93.
World Wrestling Entertainment (NYSE:WWE) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. World Wrestling Entertainment had a net margin of 4.07% and a return on equity of 20.51%. The firm had revenue of $211.60 million during the quarter, compared to analysts’ expectations of $208.51 million. During the same period in the previous year, the company earned $0.10 EPS. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. analysts predict that World Wrestling Entertainment will post 0.68 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 26th. Shareholders of record on Thursday, March 15th will be given a $0.12 dividend. The ex-dividend date is Wednesday, March 14th. This represents a $0.48 annualized dividend and a yield of 1.38%. World Wrestling Entertainment’s dividend payout ratio (DPR) is 117.08%.
In other news, CEO Vincent K. Mcmahon sold 3,340,000 shares of the business’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $28.68, for a total value of $95,791,200.00. Following the completion of the sale, the chief executive officer now owns 3,340,000 shares in the company, valued at approximately $95,791,200. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 49.80% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the company. Cubist Systematic Strategies LLC bought a new stake in shares of World Wrestling Entertainment in the 3rd quarter valued at about $176,000. LS Investment Advisors LLC raised its holdings in shares of World Wrestling Entertainment by 31.6% in the 4th quarter. LS Investment Advisors LLC now owns 6,296 shares of the company’s stock valued at $193,000 after purchasing an additional 1,512 shares in the last quarter. Piedmont Investment Advisors LLC bought a new stake in shares of World Wrestling Entertainment in the 3rd quarter valued at about $201,000. FDx Advisors Inc. bought a new stake in shares of World Wrestling Entertainment in the 3rd quarter valued at about $219,000. Finally, Summit Securities Group LLC bought a new stake in shares of World Wrestling Entertainment in the 3rd quarter valued at about $236,000. Institutional investors and hedge funds own 49.95% of the company’s stock.
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World Wrestling Entertainment Company Profile
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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