World Wrestling Entertainment (NYSE:WWE) Now Covered by Citigroup

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Citigroup initiated coverage on shares of World Wrestling Entertainment (NYSE:WWE) in a research note published on Tuesday, The Fly reports. The brokerage issued a buy rating and a $85.00 target price on the stock.

Several other analysts have also issued reports on the stock. KeyCorp cut their target price on shares of World Wrestling Entertainment from $104.00 to $101.00 and set an overweight rating for the company in a research report on Friday, April 26th. Loop Capital upgraded shares of World Wrestling Entertainment from a hold rating to a buy rating and boosted their target price for the company from $85.00 to $100.00 in a research report on Thursday, May 2nd. Guggenheim restated a buy rating and set a $100.00 target price (down from $105.00) on shares of World Wrestling Entertainment in a research report on Tuesday, June 25th. ValuEngine lowered shares of World Wrestling Entertainment from a buy rating to a hold rating in a research report on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. boosted their target price on shares of World Wrestling Entertainment from $95.00 to $105.00 and gave the company an overweight rating in a research report on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company. World Wrestling Entertainment has a consensus rating of Buy and a consensus price target of $102.73.

WWE opened at $66.70 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.24 and a quick ratio of 1.21. The firm’s 50 day moving average is $71.66. World Wrestling Entertainment has a twelve month low of $58.50 and a twelve month high of $100.45. The stock has a market capitalization of $5.29 billion, a PE ratio of 59.55 and a beta of 1.37.

World Wrestling Entertainment (NYSE:WWE) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.14. World Wrestling Entertainment had a net margin of 8.42% and a return on equity of 23.92%. The firm had revenue of $268.90 million during the quarter, compared to analysts’ expectations of $271.21 million. During the same period in the previous year, the company earned $0.11 earnings per share. The firm’s quarterly revenue was down 4.5% on a year-over-year basis. On average, equities analysts predict that World Wrestling Entertainment will post 0.99 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Friday, September 13th will be given a dividend of $0.12 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.48 annualized dividend and a yield of 0.72%. World Wrestling Entertainment’s dividend payout ratio (DPR) is 42.86%.

In other World Wrestling Entertainment news, insider George A. Barrios sold 74,678 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $70.06, for a total value of $5,231,940.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Patricia A. Gottesman sold 4,112 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $72.92, for a total transaction of $299,847.04. Following the completion of the transaction, the director now owns 20,644 shares of the company’s stock, valued at $1,505,360.48. The disclosure for this sale can be found here. Insiders have sold 255,047 shares of company stock valued at $17,794,397 over the last 90 days. 43.90% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Kwmg LLC bought a new position in shares of World Wrestling Entertainment in the first quarter worth approximately $49,000. FNY Investment Advisers LLC bought a new position in shares of World Wrestling Entertainment in the first quarter worth approximately $86,000. Piedmont Investment Advisors Inc. bought a new position in shares of World Wrestling Entertainment in the first quarter worth approximately $214,000. First Republic Investment Management Inc. bought a new position in shares of World Wrestling Entertainment in the first quarter worth approximately $226,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of World Wrestling Entertainment by 8.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,723 shares of the company’s stock worth $236,000 after purchasing an additional 218 shares during the period. Institutional investors and hedge funds own 68.33% of the company’s stock.

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 in three segments: Media, Live Events, and Consumer Products. The Media segment engages in the production and monetization of long-form and short-form media content across various platforms, including WWE Network, 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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