World Wrestling Entertainment, Inc. (NYSE:WWE) declared a quarterly dividend on Thursday, July 18th, Zacks reports. Stockholders of record on Friday, September 13th will be paid a dividend of 0.12 per share on Wednesday, September 25th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date is Thursday, September 12th.
World Wrestling Entertainment has a dividend payout ratio of 55.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect World Wrestling Entertainment to earn $2.72 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 17.6%.
Shares of WWE traded down $0.30 during mid-day trading on Tuesday, hitting $70.09. The company’s stock had a trading volume of 8,511 shares, compared to its average volume of 1,115,895. The stock’s 50-day moving average is $71.11 and its two-hundred day moving average is $79.19. The firm has a market capitalization of $5.79 billion, a PE ratio of 62.75 and a beta of 1.33. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.21 and a current ratio of 1.24. World Wrestling Entertainment has a one year low of $58.50 and a one year high of $100.45.
In other World Wrestling Entertainment news, Director Patricia A. Gottesman sold 4,123 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $67.02, for a total transaction of $276,323.46. Following the completion of the transaction, the director now directly owns 16,521 shares in the company, valued at $1,107,237.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Patricia A. Gottesman sold 4,112 shares of the stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $72.92, for a total value of $299,847.04. Following the transaction, the director now owns 20,644 shares of the company’s stock, valued at $1,505,360.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 255,047 shares of company stock valued at $17,794,397. Corporate insiders own 43.90% of the company’s stock.
WWE has been the topic of several research analyst reports. Morgan Stanley decreased their price target on shares of World Wrestling Entertainment from $90.00 to $85.00 and set an “overweight” rating on the stock in a research report on Friday, July 26th. Benchmark upgraded shares of World Wrestling Entertainment from a “hold” rating to a “buy” rating and set a $90.00 target price for the company in a research note on Friday, July 26th. ValuEngine raised World Wrestling Entertainment from a “hold” rating to a “buy” rating in a research report on Wednesday, September 4th. Evercore ISI assumed coverage on World Wrestling Entertainment in a research report on Wednesday, September 4th. They set an “outperform” rating and a $90.00 target price on the stock. Finally, Guggenheim restated a “buy” rating and set a $100.00 price target (down from $105.00) on shares of World Wrestling Entertainment in a research note on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $99.92.
About World Wrestling Entertainment
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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