World Wrestling Entertainment, Inc. (NYSE:WWE) declared a quarterly dividend on Friday, July 21st, Wall Street Journal reports. Shareholders of record on Friday, September 15th will be given a dividend of 0.12 per share on Monday, September 25th. This represents a $0.48 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Thursday, September 14th.
World Wrestling Entertainment has a payout ratio of 104.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect World Wrestling Entertainment to earn $0.60 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 80.0%.
World Wrestling Entertainment (NYSE WWE) traded down 0.38% during trading on Friday, reaching $21.21. 537,946 shares of the company’s stock were exchanged. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of 78.56 and a beta of 0.82. World Wrestling Entertainment has a 52 week low of $16.77 and a 52 week high of $23.14. The stock has a 50-day moving average price of $20.63 and a 200 day moving average price of $20.62.
World Wrestling Entertainment (NYSE:WWE) last released its earnings results on Thursday, May 4th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by $0.03. World Wrestling Entertainment had a net margin of 2.79% and a return on equity of 11.35%. The business had revenue of $188.40 million during the quarter, compared to analyst estimates of $183.41 million. During the same period last year, the business posted $0.18 EPS. World Wrestling Entertainment’s revenue was up 10.1% compared to the same quarter last year. Equities research analysts forecast that World Wrestling Entertainment will post $0.46 earnings per share for the current fiscal year.
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WWE has been the subject of a number of recent analyst reports. Zacks Investment Research raised World Wrestling Entertainment from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. ValuEngine raised World Wrestling Entertainment from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Citigroup Inc. initiated coverage on World Wrestling Entertainment in a report on Monday, March 27th. They issued a “buy” rating and a $25.00 target price for the company. BTIG Research reissued a “buy” rating and issued a $25.00 target price on shares of World Wrestling Entertainment in a report on Sunday, April 2nd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $25.00 target price on shares of World Wrestling Entertainment in a report on Tuesday, April 4th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $23.98.
About World Wrestling Entertainment
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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