World Wrestling Entertainment (WWE) Announces Quarterly Earnings Results, Beats Estimates By $0.14 EPS

World Wrestling Entertainment (NYSE:WWE) released its earnings results on Thursday. The company reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.14, MarketWatch Earnings reports. The firm had revenue of $272.50 million during the quarter, compared to analysts’ expectations of $255.01 million. World Wrestling Entertainment had a net margin of 7.27% and a return on equity of 27.69%. The business’s quarterly revenue was up 28.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.20 EPS. World Wrestling Entertainment updated its FY 2019 guidance to EPS.

Shares of WWE stock opened at $85.82 on Friday. World Wrestling Entertainment has a 52-week low of $33.40 and a 52-week high of $97.69. The firm has a market capitalization of $6.70 billion, a PE ratio of 132.03 and a beta of 1.29. The company has a quick ratio of 1.23, a current ratio of 1.26 and a debt-to-equity ratio of 0.10.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 25th. Stockholders of record on Friday, March 15th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date is Thursday, March 14th. World Wrestling Entertainment’s dividend payout ratio is 73.85%.



In other news, CEO Vincent K. Mcmahon sold 306,000 shares of the stock in a transaction on Friday, November 30th. The shares were sold at an average price of $74.73, for a total value of $22,867,380.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider George A. Barrios sold 37,500 shares of the stock in a transaction on Thursday, December 27th. The shares were sold at an average price of $70.61, for a total transaction of $2,647,875.00. Following the completion of the transaction, the insider now owns 356,946 shares of the company’s stock, valued at approximately $25,203,957.06. The disclosure for this sale can be found here. In the last 90 days, insiders sold 441,000 shares of company stock valued at $32,843,580. Corporate insiders own 45.10% of the company’s stock.

Several hedge funds have recently made changes to their positions in WWE. Pearl River Capital LLC acquired a new position in shares of World Wrestling Entertainment in the 4th quarter valued at $36,000. Cerebellum GP LLC bought a new stake in shares of World Wrestling Entertainment in the 4th quarter worth about $71,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of World Wrestling Entertainment by 11.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,505 shares of the company’s stock worth $187,000 after purchasing an additional 259 shares during the last quarter. Hartford Investment Management Co. bought a new stake in shares of World Wrestling Entertainment in the 3rd quarter worth about $214,000. Finally, LPL Financial LLC bought a new stake in shares of World Wrestling Entertainment in the 3rd quarter worth about $219,000. Institutional investors own 59.78% of the company’s stock.

Several equities analysts recently commented on WWE shares. Zacks Investment Research upgraded shares of World Wrestling Entertainment from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a research note on Monday, January 21st. JPMorgan Chase & Co. upped their target price on shares of World Wrestling Entertainment from $84.00 to $87.00 and gave the company an “overweight” rating in a research note on Sunday, December 9th. Guggenheim upped their target price on shares of World Wrestling Entertainment from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, November 28th. Morgan Stanley cut their target price on shares of World Wrestling Entertainment from $105.00 to $95.00 and set an “overweight” rating for the company in a research note on Tuesday, October 30th. Finally, FBN Securities upgraded shares of World Wrestling Entertainment from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, November 27th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $90.31.

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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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Earnings History for World Wrestling Entertainment (NYSE:WWE)

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