JPMorgan Chase & Co. Raises World Wrestling Entertainment (NYSE:WWE) Price Target to $64.00

World Wrestling Entertainment (NYSE:WWEGet Rating) had its price objective boosted by investment analysts at JPMorgan Chase & Co. from $58.00 to $64.00 in a report released on Thursday, The Fly reports. JPMorgan Chase & Co.‘s target price indicates a potential upside of 5.30% from the stock’s current price.

Several other brokerages have also recently commented on WWE. Zacks Investment Research cut shares of World Wrestling Entertainment from a “strong-buy” rating to a “hold” rating and set a $66.00 target price on the stock. in a report on Wednesday, April 6th. StockNews.com started coverage on shares of World Wrestling Entertainment in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Barclays lifted their price objective on shares of World Wrestling Entertainment from $55.00 to $57.00 and gave the company an “equal weight” rating in a research note on Thursday, April 7th. Benchmark lifted their price objective on shares of World Wrestling Entertainment from $68.00 to $71.00 in a research note on Friday, February 4th. Finally, TheStreet cut shares of World Wrestling Entertainment from a “b-” rating to a “c+” rating in a research note on Thursday, January 27th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, World Wrestling Entertainment has a consensus rating of “Hold” and a consensus price target of $64.00.

Shares of WWE opened at $60.78 on Thursday. World Wrestling Entertainment has a 12 month low of $46.81 and a 12 month high of $70.72. The firm’s 50 day moving average is $59.49 and its 200-day moving average is $55.31. The stock has a market capitalization of $4.55 billion, a PE ratio of 28.54 and a beta of 1.26. The company has a current ratio of 1.52, a quick ratio of 1.50 and a debt-to-equity ratio of 1.04.

World Wrestling Entertainment (NYSE:WWEGet Rating) last announced its earnings results on Thursday, February 3rd. The company reported $0.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.24. World Wrestling Entertainment had a net margin of 16.47% and a return on equity of 49.31%. The company had revenue of $310.30 million for the quarter, compared to analysts’ expectations of $319.28 million. During the same period last year, the firm earned $0.24 earnings per share. Equities research analysts predict that World Wrestling Entertainment will post 2.48 earnings per share for the current fiscal year.

In other news, EVP Bradley Blum sold 9,800 shares of World Wrestling Entertainment stock in a transaction on Wednesday, March 23rd. The shares were sold at an average price of $60.14, for a total transaction of $589,372.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 41.10% of the company’s stock.

Large investors have recently modified their holdings of the company. Point72 Hong Kong Ltd acquired a new position in shares of World Wrestling Entertainment during the fourth quarter worth $47,000. O Shaughnessy Asset Management LLC lifted its holdings in shares of World Wrestling Entertainment by 41.0% during the third quarter. O Shaughnessy Asset Management LLC now owns 1,091 shares of the company’s stock worth $61,000 after purchasing an additional 317 shares during the period. EverSource Wealth Advisors LLC acquired a new position in World Wrestling Entertainment in the fourth quarter valued at $57,000. Widmann Financial Services Inc. acquired a new position in World Wrestling Entertainment in the fourth quarter valued at $59,000. Finally, Benjamin F. Edwards & Company Inc. lifted its holdings in World Wrestling Entertainment by 18.3% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 2,382 shares of the company’s stock valued at $118,000 after buying an additional 368 shares during the period. Institutional investors own 71.21% of the company’s stock.

About World Wrestling Entertainment (Get Rating)

World Wrestling Entertainment, Inc is an integrated media and entertainment company. The firm is engaged in the production and distribution of content through various channels including the premium over-the-top network monetized through license arrangements or through direct-to-consumer subscriptions, content rights agreements, premium live event programming, filmed entertainment, live events, licensing of various WWE themed products, and the sale of consumer products featuring its brands.

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