Brokerages Set World Wrestling Entertainment, Inc. (NYSE:WWE) Target Price at $58.00

World Wrestling Entertainment, Inc. (NYSE:WWE) has been assigned an average rating of “Buy” from the ten research firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $59.78.

Separately, Barclays upped their target price on World Wrestling Entertainment from $51.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, July 6th.

Shares of NYSE WWE opened at $54.02 on Friday. The business has a fifty day simple moving average of $50.93 and a 200 day simple moving average of $54.58. The company has a current ratio of 1.57, a quick ratio of 1.55 and a debt-to-equity ratio of 1.10. The firm has a market capitalization of $4.12 billion, a price-to-earnings ratio of 34.19 and a beta of 1.49. World Wrestling Entertainment has a one year low of $35.44 and a one year high of $70.72.

World Wrestling Entertainment (NYSE:WWE) last issued its earnings results on Thursday, July 29th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.18. The business had revenue of $265.60 million during the quarter, compared to analyst estimates of $266.30 million. World Wrestling Entertainment had a return on equity of 39.48% and a net margin of 13.63%. On average, research analysts anticipate that World Wrestling Entertainment will post 1.68 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 27th. Stockholders of record on Wednesday, September 15th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Tuesday, September 14th. World Wrestling Entertainment’s payout ratio is presently 28.57%.

Several hedge funds have recently made changes to their positions in the company. Y Intercept Hong Kong Ltd bought a new stake in shares of World Wrestling Entertainment during the second quarter worth $296,000. Wells Fargo & Company MN grew its holdings in shares of World Wrestling Entertainment by 4.6% during the second quarter. Wells Fargo & Company MN now owns 806,910 shares of the company’s stock worth $46,712,000 after purchasing an additional 35,630 shares during the last quarter. Metropolitan Life Insurance Co NY grew its holdings in shares of World Wrestling Entertainment by 94,463.6% during the second quarter. Metropolitan Life Insurance Co NY now owns 10,402 shares of the company’s stock worth $602,000 after purchasing an additional 10,391 shares during the last quarter. Man Group plc grew its holdings in shares of World Wrestling Entertainment by 197.2% during the second quarter. Man Group plc now owns 128,701 shares of the company’s stock worth $7,451,000 after purchasing an additional 85,393 shares during the last quarter. Finally, Prudential Financial Inc. grew its holdings in shares of World Wrestling Entertainment by 4,656.7% during the second quarter. Prudential Financial Inc. now owns 410,317 shares of the company’s stock worth $23,753,000 after purchasing an additional 401,691 shares during the last quarter. Institutional investors own 67.52% of the company’s stock.

About World Wrestling Entertainment

World Wrestling Entertainment, Inc engages in the development, production and marketing of television and pay-per-view event programming and live events and the licensing and sale of consumer products featuring its brands. It operates through the following business segments: Digital Media, Live Events, and Consumer Products Division.

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Analyst Recommendations for World Wrestling Entertainment (NYSE:WWE)

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