World Wrestling Entertainment (NYSE:WWE) Downgraded by JPMorgan Chase & Co. to Neutral

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JPMorgan Chase & Co. lowered shares of World Wrestling Entertainment (NYSE:WWE) from an overweight rating to a neutral rating in a report released on Tuesday, Briefing.com Automated Import reports. They currently have $47.00 price target on the stock, down from their previous price target of $80.00.

A number of other equities analysts have also recently commented on the stock. Guggenheim reissued a buy rating and issued a $85.00 price target on shares of World Wrestling Entertainment in a research note on Wednesday, January 29th. Benchmark cut their price target on shares of World Wrestling Entertainment from $79.00 to $57.00 and set a buy rating for the company in a research note on Friday, February 7th. MKM Partners cut their price target on shares of World Wrestling Entertainment to in a research note on Friday, February 7th. Needham & Company LLC cut their price target on shares of World Wrestling Entertainment from $88.00 to $55.00 and set a buy rating for the company in a research note on Friday, February 7th. Finally, Wolfe Research cut shares of World Wrestling Entertainment from an outperform rating to a peer perform rating and cut their price target for the stock from $97.00 to $45.00 in a research note on Friday, February 7th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the stock. World Wrestling Entertainment presently has an average rating of Hold and a consensus price target of $68.35.

Shares of NYSE:WWE opened at $44.93 on Tuesday. The company has a 50 day moving average of $57.49 and a 200 day moving average of $64.39. The stock has a market cap of $3.53 billion, a P/E ratio of 53.49 and a beta of 1.39. World Wrestling Entertainment has a 12 month low of $40.24 and a 12 month high of $100.45. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 1.35.

World Wrestling Entertainment (NYSE:WWE) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.71 by $0.07. World Wrestling Entertainment had a net margin of 8.03% and a return on equity of 25.56%. The company had revenue of $322.80 million during the quarter, compared to analysts’ expectations of $332.41 million. During the same quarter in the previous year, the company earned $0.46 earnings per share. World Wrestling Entertainment’s revenue for the quarter was up 18.5% on a year-over-year basis. On average, equities analysts forecast that World Wrestling Entertainment will post 1.9 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Friday, March 13th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $0.48 annualized dividend and a yield of 1.07%. World Wrestling Entertainment’s dividend payout ratio (DPR) is presently 56.47%.

Several institutional investors have recently modified their holdings of the stock. Advisors Preferred LLC bought a new position in shares of World Wrestling Entertainment in the 4th quarter worth approximately $70,000. Ladenburg Thalmann Financial Services Inc. raised its stake in World Wrestling Entertainment by 13.9% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,831 shares of the company’s stock worth $130,000 after acquiring an additional 224 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its stake in World Wrestling Entertainment by 72.4% during the 4th quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 2,310 shares of the company’s stock worth $149,000 after acquiring an additional 970 shares during the period. Eqis Capital Management Inc. bought a new stake in World Wrestling Entertainment during the 3rd quarter worth approximately $226,000. Finally, Zeke Capital Advisors LLC bought a new stake in World Wrestling Entertainment during the 4th quarter worth approximately $234,000. Institutional investors own 74.66% of the company’s stock.

World Wrestling Entertainment Company Profile

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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