WWE (NYSE:WWE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm currently has a $44.00 price objective on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 12.88% from the stock’s current price.
According to Zacks, “World Wrestling Entertainment’s focus on increasing original content production, localization, subscriber growth, rise in TV rights fees and strategic initiatives have helped the stock to outperform the industry in a year. In fourth-quarter fiscal 2017, the company not only reported better-than-expected results but also witnessed sharp increase in the top and bottom lines. Results were driven by substantial improvement in revenues in North America and Europe/Middle East/Africa (EMEA) as well as gain in WWE Network’s total subscriber base. Furthermore, the company will continue to report record revenue growth as it has not only extended its earlier deal with different companies but also signed agreement with new service providers. In fact, management is optimistic about achieving another spectacular year of revenues and adjusted OIBDA growth. However, continuous decline in home entertainment revenues remains a concern.”
Several other analysts have also recently commented on the company. JPMorgan Chase cut WWE from an “overweight” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research report on Tuesday. Wells Fargo set a $43.00 target price on WWE and gave the company a “buy” rating in a research report on Tuesday, April 10th. Guggenheim set a $44.00 target price on WWE and gave the company a “buy” rating in a research report on Tuesday, April 10th. KeyCorp set a $43.00 target price on WWE and gave the company a “buy” rating in a research report on Friday, April 6th. Finally, Needham & Company LLC restated a “buy” rating and issued a $45.00 target price (up from $38.00) on shares of WWE in a research report on Wednesday, March 7th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. WWE presently has an average rating of “Buy” and an average target price of $39.27.
WWE traded down $0.50 during trading hours on Tuesday, hitting $38.98. The company’s stock had a trading volume of 509,432 shares, compared to its average volume of 858,311. WWE has a fifty-two week low of $19.12 and a fifty-two week high of $39.56. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.83 and a quick ratio of 2.77. The stock has a market cap of $2,984.90, a P/E ratio of 59.97 and a beta of 0.88.
WWE (NYSE:WWE) last posted its earnings results on Thursday, February 8th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.20 by $0.01. WWE had a return on equity of 20.50% and a net margin of 4.07%. The firm had revenue of $211.60 million for the quarter, compared to analysts’ expectations of $208.51 million. During the same period last year, the firm earned $0.10 EPS. The firm’s revenue was up 8.6% compared to the same quarter last year. equities analysts anticipate that WWE will post 0.84 EPS for the current year.
In other news, SVP Blake Timothy Bilstad sold 1,419 shares of WWE stock in a transaction on Sunday, February 11th. The stock was sold at an average price of $35.53, for a total transaction of $50,417.07. Following the transaction, the senior vice president now directly owns 24,121 shares in the company, valued at approximately $857,019.13. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Mark Kowal sold 2,000 shares of WWE stock in a transaction on Friday, February 16th. The shares were sold at an average price of $36.70, for a total value of $73,400.00. The disclosure for this sale can be found here. 45.10% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of the company. LS Investment Advisors LLC increased its position in shares of WWE by 31.6% during the 4th quarter. LS Investment Advisors LLC now owns 6,296 shares of the company’s stock valued at $193,000 after purchasing an additional 1,512 shares during the period. Alliancebernstein L.P. boosted its stake in shares of WWE by 3.8% during the 4th quarter. Alliancebernstein L.P. now owns 46,100 shares of the company’s stock worth $1,410,000 after acquiring an additional 1,700 shares in the last quarter. Teachers Advisors LLC boosted its stake in shares of WWE by 2.7% during the 4th quarter. Teachers Advisors LLC now owns 69,720 shares of the company’s stock worth $2,132,000 after acquiring an additional 1,849 shares in the last quarter. Bbva Compass Bancshares Inc. boosted its stake in shares of WWE by 9.0% during the 4th quarter. Bbva Compass Bancshares Inc. now owns 25,147 shares of the company’s stock worth $769,000 after acquiring an additional 2,079 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of WWE by 6.5% during the 4th quarter. Victory Capital Management Inc. now owns 37,585 shares of the company’s stock worth $1,149,000 after acquiring an additional 2,281 shares in the last quarter. Institutional investors own 55.24% of the company’s stock.
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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. The company operates through Network, Television, Home Entertainment, Digital Media, Live Events, Licensing, Venue Merchandise, WWEShop, and WWE Studios segments.
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