World Wrestling Entertainment, Inc. (NYSE:WWE) had its target price raised by investment analysts at Benchmark Co. from $25.00 to $28.00 in a report released on Tuesday, October 31st, Marketbeat Ratings reports. The firm presently has a “buy” rating on the stock. Benchmark Co.’s price objective would suggest a potential upside of 1.67% from the stock’s current price.
WWE has been the subject of a number of other research reports. Zacks Investment Research upgraded shares of World Wrestling Entertainment from a “hold” rating to a “strong-buy” rating and set a $28.00 price objective for the company in a report on Monday, October 30th. FBN Securities downgraded shares of World Wrestling Entertainment from an “outperform” rating to a “sector perform” rating in a report on Monday, October 30th. Needham & Company LLC reiterated a “buy” rating and issued a $25.00 price objective on shares of World Wrestling Entertainment in a report on Tuesday, September 26th. KeyCorp reiterated a “hold” rating on shares of World Wrestling Entertainment in a report on Tuesday, October 17th. Finally, ValuEngine upgraded shares of World Wrestling Entertainment from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. World Wrestling Entertainment has an average rating of “Buy” and a consensus price target of $25.25.
World Wrestling Entertainment (WWE) traded up $0.15 on Tuesday, hitting $27.54. 337,234 shares of the company traded hands, compared to its average volume of 851,553. World Wrestling Entertainment has a 52-week low of $18.00 and a 52-week high of $27.79. The company has a debt-to-equity ratio of 0.83, a quick ratio of 2.62 and a current ratio of 2.68. The firm has a market cap of $2,123.53, a P/E ratio of 51.96, a PEG ratio of 2.49 and a beta of 0.86.
World Wrestling Entertainment (NYSE:WWE) last released its quarterly earnings results on Thursday, October 26th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.08. World Wrestling Entertainment had a net margin of 4.56% and a return on equity of 17.05%. The firm had revenue of $186.40 million during the quarter, compared to the consensus estimate of $176.19 million. During the same quarter in the prior year, the firm earned $0.14 EPS. The company’s revenue for the quarter was up 13.5% on a year-over-year basis. sell-side analysts expect that World Wrestling Entertainment will post 0.55 earnings per share for the current year.
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In other World Wrestling Entertainment news, insider Kevin Dunn sold 72,286 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $20.81, for a total value of $1,504,271.66. Following the completion of the transaction, the insider now owns 379,559 shares of the company’s stock, valued at approximately $7,898,622.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Mark Kowal sold 2,275 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $21.99, for a total transaction of $50,027.25. Following the completion of the transaction, the senior vice president now directly owns 14,736 shares of the company’s stock, valued at approximately $324,044.64. The disclosure for this sale can be found here. Insiders have sold a total of 101,899 shares of company stock valued at $2,153,189 in the last ninety days. 49.80% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. Pinebridge Investments L.P. lifted its position in shares of World Wrestling Entertainment by 1.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 5,073 shares of the company’s stock worth $104,000 after purchasing an additional 51 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of World Wrestling Entertainment during the 3rd quarter worth $176,000. State of Alaska Department of Revenue lifted its position in shares of World Wrestling Entertainment by 78.8% during the 2nd quarter. State of Alaska Department of Revenue now owns 7,601 shares of the company’s stock worth $154,000 after purchasing an additional 3,351 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new stake in World Wrestling Entertainment during the 3rd quarter worth $201,000. Finally, Municipal Employees Retirement System of Michigan raised its stake in World Wrestling Entertainment by 4.5% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 8,790 shares of the company’s stock worth $195,000 after acquiring an additional 380 shares in the last quarter. 49.72% of the stock is owned by institutional investors and hedge funds.
World Wrestling Entertainment Company Profile
World Wrestling Entertainment, Inc (WWE) is an integrated media and entertainment company. The Company’s segments are Network, Television, Home Entertainment, Digital Media, Live Events, Licensing, Venue Merchandise, WWEShop, WWE Studios, and Corporate and Other. The Company is engaged in the production and distribution of content through various channels, including its WWE Network, television rights agreements, pay-per-view event programming, live events, feature films, licensing of various WWE themed products, and the sale of consumer products featuring its brands.
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