Q3 2023 Earnings Estimate for World Wrestling Entertainment, Inc. (NYSE:WWE) Issued By Seaport Res Ptn

World Wrestling Entertainment, Inc. (NYSE:WWE) – Analysts at Seaport Res Ptn upped their Q3 2023 earnings estimates for shares of World Wrestling Entertainment in a research note issued on Tuesday, August 29th. Seaport Res Ptn analyst D. Joyce now forecasts that the company will post earnings of $0.66 per share for the quarter, up from their previous forecast of $0.64. The consensus estimate for World Wrestling Entertainment’s current full-year earnings is $2.67 per share. Seaport Res Ptn also issued estimates for World Wrestling Entertainment’s Q4 2023 earnings at $0.90 EPS, Q1 2024 earnings at $0.75 EPS, Q2 2024 earnings at $0.89 EPS, Q3 2024 earnings at $0.68 EPS, Q4 2024 earnings at $0.87 EPS, FY2024 earnings at $3.13 EPS, FY2025 earnings at $3.43 EPS, FY2026 earnings at $3.83 EPS and FY2027 earnings at $4.17 EPS.

World Wrestling Entertainment (NYSE:WWE) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $0.91 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.02). World Wrestling Entertainment had a net margin of 12.65% and a return on equity of 34.50%. The business had revenue of $410.30 million during the quarter, compared to analysts’ expectations of $398.54 million.

Other equities research analysts have also recently issued reports about the stock. Wells Fargo & Company increased their target price on shares of World Wrestling Entertainment from $100.00 to $109.00 in a research report on Wednesday, May 3rd. Loop Capital raised their price objective on shares of World Wrestling Entertainment from $105.00 to $125.00 in a research report on Thursday, May 4th. StockNews.com began coverage on shares of World Wrestling Entertainment in a research report on Sunday. They set a “hold” rating for the company. Morgan Stanley reiterated an “overweight” rating and set a $125.00 price target on shares of World Wrestling Entertainment in a research report on Thursday, August 3rd. Finally, VNET Group reiterated a “maintains” rating on shares of World Wrestling Entertainment in a research report on Thursday, May 4th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $110.13.

World Wrestling Entertainment Stock Performance

WWE opened at $110.05 on Wednesday. The company has a quick ratio of 3.76, a current ratio of 3.78 and a debt-to-equity ratio of 0.42. The company has a market cap of $9.15 billion, a price-to-earnings ratio of 53.95 and a beta of 1.14. World Wrestling Entertainment has a 52-week low of $65.04 and a 52-week high of $118.04. The firm’s fifty day simple moving average is $108.72 and its two-hundred day simple moving average is $100.66.

Hedge Funds Weigh In On World Wrestling Entertainment

A number of large investors have recently bought and sold shares of WWE. Handelsbanken Fonder AB boosted its stake in shares of World Wrestling Entertainment by 93.7% during the 1st quarter. Handelsbanken Fonder AB now owns 10,337 shares of the company’s stock worth $943,000 after purchasing an additional 5,000 shares during the last quarter. Avala Global LP purchased a new stake in shares of World Wrestling Entertainment during the fourth quarter valued at approximately $11,890,000. Assetmark Inc. raised its stake in shares of World Wrestling Entertainment by 7.6% during the first quarter. Assetmark Inc. now owns 39,612 shares of the company’s stock valued at $3,615,000 after purchasing an additional 2,790 shares during the period. Segantii Capital Management Ltd purchased a new stake in shares of World Wrestling Entertainment during the first quarter valued at approximately $8,213,000. Finally, Pinebridge Investments L.P. raised its stake in shares of World Wrestling Entertainment by 2.2% during the fourth quarter. Pinebridge Investments L.P. now owns 8,591 shares of the company’s stock valued at $589,000 after purchasing an additional 189 shares during the period. Hedge funds and other institutional investors own 66.32% of the company’s stock.

World Wrestling Entertainment Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 25th. Stockholders of record on Friday, September 15th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.44%. World Wrestling Entertainment’s payout ratio is 23.53%.

About World Wrestling Entertainment

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.