World Wrestling Entertainment (NYSE:WWE) Issues Quarterly Earnings Results, Beats Expectations By $0.09 EPS

World Wrestling Entertainment (NYSE:WWEGet Rating) issued its quarterly earnings results on Thursday. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.09, MarketWatch Earnings reports. The company had revenue of $333.40 million for the quarter, compared to analysts’ expectations of $325.70 million. World Wrestling Entertainment had a return on equity of 49.31% and a net margin of 16.47%. The firm’s revenue for the quarter was up 26.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.51 earnings per share.

WWE stock opened at $58.21 on Friday. World Wrestling Entertainment has a fifty-two week low of $46.81 and a fifty-two week high of $70.72. The business’s 50-day moving average is $60.05 and its two-hundred day moving average is $55.45. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.50 and a current ratio of 1.52. The company has a market cap of $4.36 billion, a price-to-earnings ratio of 27.93 and a beta of 1.24.

The company also recently announced a quarterly dividend, which will be paid on Monday, June 27th. Shareholders of record on Wednesday, June 15th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date is Tuesday, June 14th. World Wrestling Entertainment’s dividend payout ratio is 22.54%.

In other World Wrestling Entertainment news, EVP Bradley Blum sold 9,800 shares of the stock in a transaction dated Wednesday, March 23rd. The stock was sold at an average price of $60.14, for a total value of $589,372.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 41.40% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the business. Wealthsource Partners LLC lifted its holdings in World Wrestling Entertainment by 2.8% in the fourth quarter. Wealthsource Partners LLC now owns 7,996 shares of the company’s stock valued at $395,000 after acquiring an additional 215 shares during the period. Amalgamated Bank increased its position in World Wrestling Entertainment by 3.4% in the fourth quarter. Amalgamated Bank now owns 33,164 shares of the company’s stock worth $1,636,000 after buying an additional 1,083 shares in the last quarter. EverSource Wealth Advisors LLC purchased a new stake in World Wrestling Entertainment in the fourth quarter worth about $57,000. Lombard Odier Asset Management USA Corp purchased a new stake in World Wrestling Entertainment in the fourth quarter worth about $291,000. Finally, MML Investors Services LLC purchased a new stake in World Wrestling Entertainment in the fourth quarter worth about $312,000. 70.21% of the stock is currently owned by institutional investors.

Several equities research analysts recently weighed in on WWE shares. StockNews.com started coverage on World Wrestling Entertainment in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. JPMorgan Chase & Co. upped their price target on World Wrestling Entertainment from $58.00 to $64.00 in a research note on Thursday, April 21st. TheStreet downgraded World Wrestling Entertainment from a “b-” rating to a “c+” rating in a report on Thursday, January 27th. Zacks Investment Research downgraded 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. Finally, Barclays upped their price target on World Wrestling Entertainment from $55.00 to $57.00 and gave the company an “equal weight” rating in a report on Thursday, April 7th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $63.88.

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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Earnings History for World Wrestling Entertainment (NYSE:WWE)

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