World Wrestling Entertainment’s (WWE) “Buy” Rating Reaffirmed at KeyCorp

KeyCorp reiterated their buy rating on shares of World Wrestling Entertainment (NYSE:WWE) in a report released on Friday. KeyCorp also issued estimates for World Wrestling Entertainment’s Q1 2019 earnings at $0.17 EPS, Q2 2019 earnings at $0.19 EPS, Q3 2019 earnings at $0.24 EPS, Q4 2019 earnings at $0.68 EPS, FY2019 earnings at $1.28 EPS, Q1 2020 earnings at $0.59 EPS, Q2 2020 earnings at $0.63 EPS, Q3 2020 earnings at $0.67 EPS and FY2020 earnings at $3.01 EPS.

A number of other brokerages have also commented on WWE. Cannonball Research upgraded World Wrestling Entertainment to a buy rating and set a $95.00 target price for the company in a research note on Thursday, October 11th. Wells Fargo & Co upped their target price on World Wrestling Entertainment to $97.00 and gave the company an outperform rating in a research note on Friday, July 27th. Needham & Company LLC upped their target price on World Wrestling Entertainment from $80.00 to $100.00 and gave the company a buy rating in a research note on Tuesday, July 24th. Citigroup upped their target price on World Wrestling Entertainment from $69.00 to $85.00 and gave the company a neutral rating in a research note on Monday, August 27th. Finally, JPMorgan Chase & Co. upped their target price on World Wrestling Entertainment from $77.00 to $84.00 and gave the company a hold rating in a research note on Friday, July 27th. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $87.00.

Shares of WWE traded down $5.90 during mid-day trading on Friday, hitting $69.78. The company’s stock had a trading volume of 2,418,396 shares, compared to its average volume of 1,393,002. The company has a current ratio of 1.26, a quick ratio of 1.31 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $5.90 billion, a price-to-earnings ratio of 107.35 and a beta of 0.97. World Wrestling Entertainment has a one year low of $24.60 and a one year high of $97.69.



World Wrestling Entertainment (NYSE:WWE) last issued its earnings results on Thursday, October 25th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.18. The business had revenue of $188.40 million during the quarter, compared to analyst estimates of $203.08 million. World Wrestling Entertainment had a return on equity of 27.69% and a net margin of 7.27%. Equities analysts predict that World Wrestling Entertainment will post 0.87 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 26th. Shareholders of record on Friday, December 14th will be paid a dividend of $0.12 per share. The ex-dividend date is Thursday, December 13th. This represents a $0.48 annualized dividend and a yield of 0.69%. World Wrestling Entertainment’s dividend payout ratio is currently 73.85%.

In other World Wrestling Entertainment news, insider Kevin Dunn sold 100,000 shares of the stock in a transaction on Monday, July 30th. The stock was sold at an average price of $79.18, for a total transaction of $7,918,000.00. Following the completion of the transaction, the insider now directly owns 258,674 shares in the company, valued at $20,481,807.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider George A. Barrios sold 12,292 shares of the stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $80.01, for a total value of $983,482.92. Following the transaction, the insider now owns 607,148 shares of the company’s stock, valued at $48,577,911.48. The disclosure for this sale can be found here. Insiders have sold 353,996 shares of company stock valued at $29,322,438 over the last quarter. Corporate insiders own 45.10% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Creative Planning increased its stake in shares of World Wrestling Entertainment by 4.6% in the second quarter. Creative Planning now owns 14,038 shares of the company’s stock valued at $1,022,000 after buying an additional 623 shares in the last quarter. State Board of Administration of Florida Retirement System increased its stake in shares of World Wrestling Entertainment by 3.8% in the second quarter. State Board of Administration of Florida Retirement System now owns 19,161 shares of the company’s stock valued at $1,395,000 after buying an additional 700 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of World Wrestling Entertainment by 48.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,246 shares of the company’s stock valued at $164,000 after buying an additional 734 shares in the last quarter. Amalgamated Bank increased its stake in shares of World Wrestling Entertainment by 13.2% in the second quarter. Amalgamated Bank now owns 6,849 shares of the company’s stock valued at $499,000 after buying an additional 797 shares in the last quarter. Finally, Piedmont Investment Advisors LLC increased its stake in shares of World Wrestling Entertainment by 9.5% in the second quarter. Piedmont Investment Advisors LLC now owns 9,359 shares of the company’s stock valued at $682,000 after buying an additional 812 shares in the last quarter. Hedge funds and other institutional investors own 61.72% 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. The company operates through Network, Television, Home Entertainment, Digital Media, Live Events, Licensing, Venue Merchandise, WWEShop, and WWE Studios segments.

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Analyst Recommendations for World Wrestling Entertainment (NYSE:WWE)

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