Rosenblatt Securities Raises World Wrestling Entertainment (NYSE:WWE) Price Target to $57.00

World Wrestling Entertainment (NYSE:WWE) had its target price upped by Rosenblatt Securities from $55.00 to $57.00 in a research report report published on Thursday, BenzingaRatingsTable reports. They currently have a buy rating on the stock.

Other equities research analysts have also recently issued reports about the stock. TheStreet upgraded shares of World Wrestling Entertainment from a c+ rating to a b- rating in a research note on Wednesday, June 17th. MKM Partners boosted their price target on shares of World Wrestling Entertainment from $48.00 to $52.00 in a research report on Friday, April 24th. JPMorgan Chase & Co. increased their price objective on shares of World Wrestling Entertainment from $42.00 to $44.00 and gave the company a neutral rating in a report on Tuesday, July 7th. Zacks Investment Research cut World Wrestling Entertainment from a strong-buy rating to a hold rating and set a $50.00 target price on the stock. in a report on Saturday, June 27th. Finally, Needham & Company LLC upped their target price on World Wrestling Entertainment from $45.00 to $50.00 and gave the stock a buy rating in a research report on Tuesday, June 23rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $57.13.

WWE opened at $46.61 on Thursday. The company has a current ratio of 1.31, a quick ratio of 1.29 and a debt-to-equity ratio of 1.33. The business’s 50 day moving average is $45.00 and its 200-day moving average is $45.10. The stock has a market cap of $3.52 billion, a PE ratio of 27.91 and a beta of 1.49. World Wrestling Entertainment has a twelve month low of $29.10 and a twelve month high of $76.44.

World Wrestling Entertainment (NYSE:WWE) last posted its earnings results on Thursday, July 30th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.15 by $0.37. World Wrestling Entertainment had a return on equity of 50.91% and a net margin of 14.18%. The firm had revenue of $223.40 million for the quarter, compared to analysts’ expectations of $228.89 million. As a group, analysts forecast that World Wrestling Entertainment will post 1.33 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Monday, September 14th. World Wrestling Entertainment’s dividend payout ratio is presently 56.47%.

In other news, EVP Paul Levesque sold 23,255 shares of the business’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $43.80, for a total transaction of $1,018,569.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 40.20% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. increased its position in shares of World Wrestling Entertainment by 24.5% in the first quarter. PNC Financial Services Group Inc. now owns 1,465 shares of the company’s stock worth $50,000 after acquiring an additional 288 shares in the last quarter. FDx Advisors Inc. boosted its stake in World Wrestling Entertainment by 368.4% in the 1st quarter. FDx Advisors Inc. now owns 19,077 shares of the company’s stock worth $58,000 after purchasing an additional 15,004 shares during the period. Verus Capital Partners LLC acquired a new position in World Wrestling Entertainment in the 4th quarter worth approximately $68,000. Stephenson National Bank & Trust grew its position in World Wrestling Entertainment by 26.4% during the 2nd quarter. Stephenson National Bank & Trust now owns 1,946 shares of the company’s stock worth $85,000 after purchasing an additional 407 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in World Wrestling Entertainment by 41.8% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,298 shares of the company’s stock valued at $146,000 after purchasing an additional 1,266 shares during the period. Institutional investors own 72.70% 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. 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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Analyst Recommendations for World Wrestling Entertainment (NYSE:WWE)

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