World Wrestling Entertainment, Inc. (NYSE:WWE) Receives Average Recommendation of “Hold” from Analysts

World Wrestling Entertainment, Inc. (NYSE:WWEGet Rating) has earned an average rating of “Hold” from the ten analysts that are currently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $63.88.

A number of equities research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of World Wrestling Entertainment from a “strong-buy” rating to a “hold” rating and set a $66.00 price objective for the company. in a research report on Wednesday, April 6th. Barclays increased their target price 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. StockNews.com started coverage on shares of World Wrestling Entertainment in a research note on Thursday, March 31st. They set a “hold” rating for the company. TheStreet downgraded shares of World Wrestling Entertainment from a “b-” rating to a “c+” rating in a research report on Thursday, January 27th. Finally, Benchmark upped their price target on shares of World Wrestling Entertainment from $68.00 to $71.00 in a research report on Friday, February 4th.

WWE stock traded down $0.35 during midday trading on Monday, hitting $60.64. The stock had a trading volume of 9,838 shares, compared to its average volume of 643,073. The firm has a market cap of $4.54 billion, a PE ratio of 28.25 and a beta of 1.26. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.52 and a quick ratio of 1.50. World Wrestling Entertainment has a 12-month low of $46.81 and a 12-month high of $70.72. The company’s 50-day moving average price is $59.71 and its 200 day moving average price is $55.36.

World Wrestling Entertainment (NYSE:WWEGet Rating) last released 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. The firm had revenue of $310.30 million during the quarter, compared to analysts’ expectations of $319.28 million. World Wrestling Entertainment had a net margin of 16.47% and a return on equity of 49.31%. During the same period in the previous year, the company earned $0.24 EPS. As a group, sell-side analysts anticipate that World Wrestling Entertainment will post 2.51 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 25th. Shareholders of record on Tuesday, March 15th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date was Monday, March 14th. World Wrestling Entertainment’s dividend payout ratio (DPR) is presently 22.54%.

In other news, EVP Bradley Blum sold 9,800 shares of the firm’s stock in a transaction dated Wednesday, March 23rd. The shares were sold at an average price of $60.14, for a total transaction of $589,372.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 41.10% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the stock. Lindsell Train Ltd increased its position in World Wrestling Entertainment by 1.0% in the 3rd quarter. Lindsell Train Ltd now owns 11,212,514 shares of the company’s stock valued at $630,816,000 after acquiring an additional 110,000 shares in the last quarter. BlackRock Inc. lifted its stake in World Wrestling Entertainment by 6.0% in the fourth quarter. BlackRock Inc. now owns 5,957,199 shares of the company’s stock valued at $293,927,000 after buying an additional 335,864 shares in the last quarter. UBS Asset Management Americas Inc. lifted its stake in World Wrestling Entertainment by 18.4% in the third quarter. UBS Asset Management Americas Inc. now owns 1,817,605 shares of the company’s stock valued at $102,258,000 after buying an additional 282,695 shares in the last quarter. State Street Corp lifted its position in shares of World Wrestling Entertainment by 1.1% in the fourth quarter. State Street Corp now owns 1,136,853 shares of the company’s stock worth $56,092,000 after purchasing an additional 12,228 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of World Wrestling Entertainment by 116.4% in the fourth quarter. Millennium Management LLC now owns 900,554 shares of the company’s stock worth $44,433,000 after purchasing an additional 484,413 shares in the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

About World Wrestling Entertainment (Get Rating)

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 through three segments: Media, Live Events, and Consumer Products. The Media segment engages in the production and monetization of long-form and short-form video content across various platforms, including WWE Network, broadcast and 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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