StockNews.com Begins Coverage on World Wrestling Entertainment (NYSE:WWE)

StockNews.com assumed coverage on shares of World Wrestling Entertainment (NYSE:WWE) in a research report sent to investors on Tuesday morning. The firm issued a hold rating on the stock.

Separately, Morgan Stanley restated an overweight rating and issued a $125.00 price objective on shares of World Wrestling Entertainment in a report on Thursday, August 3rd. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $111.86.

World Wrestling Entertainment Price Performance

WWE stock opened at $100.65 on Tuesday. The stock has a 50-day moving average price of $107.39 and a two-hundred day moving average price of $101.60. The stock has a market cap of $8.37 billion, a PE ratio of 49.34 and a beta of 1.14. The company has a current ratio of 3.78, a quick ratio of 3.76 and a debt-to-equity ratio of 0.42. World Wrestling Entertainment has a 1 year low of $66.13 and a 1 year high of $118.04.

World Wrestling Entertainment (NYSE:WWE) last released its earnings results on Wednesday, August 2nd. The company reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). The firm had revenue of $410.30 million for the quarter, compared to the consensus estimate of $398.54 million. World Wrestling Entertainment had a return on equity of 34.50% and a net margin of 12.65%. Equities analysts forecast that World Wrestling Entertainment will post 2.65 EPS for the current fiscal year.

World Wrestling Entertainment Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 25th. Investors of record on Friday, September 15th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.48 annualized dividend and a dividend yield of 0.48%. World Wrestling Entertainment’s dividend payout ratio is 23.53%.

Institutional Trading of World Wrestling Entertainment

Institutional investors have recently modified their holdings of the business. Rice Hall James & Associates LLC lifted its holdings in World Wrestling Entertainment by 6.4% in the first quarter. Rice Hall James & Associates LLC now owns 767,630 shares of the company’s stock valued at $47,931,000 after buying an additional 46,351 shares during the period. US Bancorp DE lifted its holdings in World Wrestling Entertainment by 55.9% in the first quarter. US Bancorp DE now owns 957 shares of the company’s stock valued at $59,000 after buying an additional 343 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new position in World Wrestling Entertainment in the first quarter valued at $235,000. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in World Wrestling Entertainment by 11,166.7% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 20,280 shares of the company’s stock valued at $1,266,000 after buying an additional 20,100 shares during the period. Finally, MetLife Investment Management LLC lifted its holdings in World Wrestling Entertainment by 38.2% in the first quarter. MetLife Investment Management LLC now owns 29,949 shares of the company’s stock valued at $1,870,000 after buying an additional 8,279 shares during the period. Institutional investors own 66.32% 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 through three segments: Media, Live Events, and Consumer Products. The Media segment engages in the production and monetization of long-form and short-form video content across various platforms, including WWE Network, broadcast and pay television, and digital and social media, as well as filmed entertainment.