World Wrestling Entertainment (NYSE:WWE) Given New $86.00 Price Target at Citigroup

World Wrestling Entertainment (NYSE:WWEGet Rating) had its price target upped by Citigroup to $86.00 in a report released on Tuesday, Stock Target Advisor reports.

WWE has been the subject of several other reports. Barclays increased their price objective on shares of World Wrestling Entertainment from $61.00 to $69.00 and gave the company an equal weight rating in a research report on Wednesday, August 17th. Wells Fargo & Company increased their price objective on shares of World Wrestling Entertainment from $47.00 to $50.00 and gave the company an underweight rating in a research report on Wednesday, August 17th. Benchmark increased their price objective on shares of World Wrestling Entertainment from $80.00 to $83.00 and gave the company a buy rating in a research report on Wednesday, August 17th. StockNews.com assumed coverage on shares of World Wrestling Entertainment in a research report on Wednesday, October 12th. They issued a hold rating for the company. Finally, Wolfe Research upgraded shares of World Wrestling Entertainment from a peer perform rating to an outperform rating and set a $98.00 price target on the stock in a report on Thursday, September 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $78.70.

World Wrestling Entertainment Stock Performance

WWE stock opened at $76.91 on Tuesday. The firm has a market cap of $5.72 billion, a price-to-earnings ratio of 29.58 and a beta of 1.11. The firm has a 50-day simple moving average of $73.13 and a two-hundred day simple moving average of $68.04. World Wrestling Entertainment has a one year low of $46.91 and a one year high of $79.83. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.46 and a current ratio of 1.46.

World Wrestling Entertainment (NYSE:WWEGet Rating) last released its quarterly earnings results on Tuesday, August 16th. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.56 by $0.03. The business had revenue of $328.20 million during the quarter, compared to analyst estimates of $322.38 million. World Wrestling Entertainment had a net margin of 17.29% and a return on equity of 54.64%. The company’s quarterly revenue was up 23.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.42 earnings per share. On average, equities analysts forecast that World Wrestling Entertainment will post 2.57 EPS for the current fiscal year.

World Wrestling Entertainment Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 27th. Stockholders of record on Thursday, December 15th will be paid a dividend of $0.12 per share. The ex-dividend date is Wednesday, December 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.62%. World Wrestling Entertainment’s payout ratio is 18.46%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Xponance Inc. lifted its position in shares of World Wrestling Entertainment by 1.5% during the 3rd quarter. Xponance Inc. now owns 9,462 shares of the company’s stock valued at $664,000 after buying an additional 144 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of World Wrestling Entertainment by 26.5% during the 2nd quarter. Parallel Advisors LLC now owns 745 shares of the company’s stock valued at $47,000 after buying an additional 156 shares in the last quarter. Captrust Financial Advisors lifted its position in shares of World Wrestling Entertainment by 12.1% during the 2nd quarter. Captrust Financial Advisors now owns 1,536 shares of the company’s stock valued at $96,000 after buying an additional 166 shares in the last quarter. US Bancorp DE lifted its position in shares of World Wrestling Entertainment by 18.9% during the 2nd quarter. US Bancorp DE now owns 1,138 shares of the company’s stock valued at $71,000 after buying an additional 181 shares in the last quarter. Finally, Allworth Financial LP lifted its holdings in World Wrestling Entertainment by 84.4% in the 3rd quarter. Allworth Financial LP now owns 402 shares of the company’s stock valued at $28,000 after purchasing an additional 184 shares in the last quarter. Hedge funds and other institutional investors own 69.94% of the company’s stock.

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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