World Wrestling Entertainment (WWE) Coverage Initiated by Analysts at J P Morgan Chase & Co

Research analysts at J P Morgan Chase & Co started coverage on shares of World Wrestling Entertainment (NYSE:WWE) in a research report issued on Wednesday, Marketbeat Ratings reports. The brokerage set an “overweight” rating on the stock.

A number of other analysts have also recently weighed in on the company. Zacks Investment Research cut World Wrestling Entertainment from a “buy” rating to a “hold” rating in a research report on Monday, September 11th. FBN Securities cut World Wrestling Entertainment from an “outperform” rating to a “sector perform” rating in a research report on Monday, October 30th. Benchmark raised their target price on World Wrestling Entertainment from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, October 31st. KeyCorp restated a “hold” rating on shares of World Wrestling Entertainment in a research report on Tuesday, October 17th. Finally, ValuEngine upgraded World Wrestling Entertainment from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $25.25.

Shares of World Wrestling Entertainment (NYSE:WWE) opened at $30.33 on Wednesday. The company has a current ratio of 2.68, a quick ratio of 2.62 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $2,338.66, a P/E ratio of 57.23, a PEG ratio of 2.64 and a beta of 0.87. World Wrestling Entertainment has a 1 year low of $18.00 and a 1 year high of $30.40.

World Wrestling Entertainment (NYSE:WWE) last announced its quarterly earnings results on Thursday, October 26th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.08. The business had revenue of $186.40 million for the quarter, compared to analysts’ expectations of $176.19 million. World Wrestling Entertainment had a return on equity of 17.05% and a net margin of 4.56%. The business’s quarterly revenue was up 13.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.14 EPS. research analysts predict that World Wrestling Entertainment will post 0.58 earnings per share for the current fiscal year.

In related news, SVP Blake Timothy Bilstad sold 1,801 shares of the stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $26.40, for a total transaction of $47,546.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Basil V. Jr. Devito sold 25,537 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $21.59, for a total value of $551,343.83. Following the sale, the insider now owns 65,616 shares of the company’s stock, valued at $1,416,649.44. The disclosure for this sale can be found here. Company insiders own 49.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of WWE. Dimensional Fund Advisors LP raised its holdings in World Wrestling Entertainment by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 201,452 shares of the company’s stock valued at $4,476,000 after buying an additional 2,186 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in World Wrestling Entertainment by 5.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 149,755 shares of the company’s stock valued at $3,328,000 after buying an additional 8,178 shares in the last quarter. Bank of America Corp DE raised its holdings in World Wrestling Entertainment by 107.8% during the first quarter. Bank of America Corp DE now owns 60,635 shares of the company’s stock valued at $1,347,000 after buying an additional 31,451 shares in the last quarter. State Street Corp raised its holdings in World Wrestling Entertainment by 9.3% during the first quarter. State Street Corp now owns 826,608 shares of the company’s stock valued at $18,368,000 after buying an additional 70,057 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in World Wrestling Entertainment by 78.8% during the second quarter. State of Alaska Department of Revenue now owns 7,601 shares of the company’s stock valued at $154,000 after buying an additional 3,351 shares in the last quarter. Institutional investors own 49.84% of the company’s stock.

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World Wrestling Entertainment Company Profile

World Wrestling Entertainment, Inc (WWE) is an integrated media and entertainment company. The Company’s segments are Network, Television, Home Entertainment, Digital Media, Live Events, Licensing, Venue Merchandise, WWEShop, WWE Studios, and Corporate and Other. The Company is engaged in the production and distribution of content through various channels, including its WWE Network, television rights agreements, pay-per-view event programming, live events, feature films, licensing of various WWE themed products, and the sale of consumer products featuring its brands.

Analyst Recommendations for World Wrestling Entertainment (NYSE:WWE)

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