World Wrestling Entertainment (NYSE:WWE) Earns Overweight Rating from Analysts at JPMorgan Chase & Co.

Equities researchers at JPMorgan Chase & Co. began coverage on shares of World Wrestling Entertainment (NYSE:WWE) in a research report issued to clients and investors on Wednesday, December 6th, MarketBeat Ratings reports. The brokerage set an “overweight” rating on the stock.

Other equities analysts also recently issued research reports about the stock. Benchmark boosted their price objective on shares of World Wrestling Entertainment from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, October 31st. Needham & Company LLC reissued a “buy” rating and issued a $25.00 price objective on shares of World Wrestling Entertainment in a research note on Tuesday, September 26th. Zacks Investment Research raised World Wrestling Entertainment from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Tuesday, September 12th. ValuEngine raised World Wrestling Entertainment from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Finally, BidaskClub downgraded World Wrestling Entertainment from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Six analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $26.25.

Shares of World Wrestling Entertainment (WWE) traded up $0.24 during trading hours on Wednesday, reaching $30.58. 502,908 shares of the company were exchanged, compared to its average volume of 818,468. The company has a market capitalization of $2,339.43, a P/E ratio of 67.96, a price-to-earnings-growth ratio of 2.64 and a beta of 0.87. World Wrestling Entertainment has a 52 week low of $18.00 and a 52 week high of $33.28. The company has a quick ratio of 2.62, a current ratio of 2.68 and a debt-to-equity ratio of 0.83.

World Wrestling Entertainment (NYSE:WWE) last issued its quarterly earnings data on Thursday, October 26th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.08. The company had revenue of $186.40 million during the quarter, compared to the consensus estimate of $176.19 million. World Wrestling Entertainment had a net margin of 4.56% and a return on equity of 17.05%. World Wrestling Entertainment’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.14 earnings per share. equities analysts anticipate that World Wrestling Entertainment will post 0.58 earnings per share for the current fiscal year.

In other news, CEO Vincent K. Mcmahon sold 3,340,000 shares of the business’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $28.68, for a total transaction of $95,791,200.00. Following the sale, the chief executive officer now directly owns 3,340,000 shares of the company’s stock, valued at $95,791,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Blake Timothy Bilstad sold 1,801 shares of the business’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $26.40, for a total transaction of $47,546.40. The disclosure for this sale can be found here. Corporate insiders own 49.80% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Lindsell Train Ltd grew its holdings in shares of World Wrestling Entertainment by 2.1% during the third quarter. Lindsell Train Ltd now owns 7,232,868 shares of the company’s stock valued at $170,334,000 after buying an additional 150,000 shares during the last quarter. BlackRock Inc. grew its holdings in shares of World Wrestling Entertainment by 1.4% during the second quarter. BlackRock Inc. now owns 4,487,555 shares of the company’s stock valued at $91,410,000 after buying an additional 61,167 shares during the last quarter. EastBay Asset Management LLC grew its holdings in shares of World Wrestling Entertainment by 153.2% during the second quarter. EastBay Asset Management LLC now owns 1,337,130 shares of the company’s stock valued at $27,237,000 after buying an additional 809,130 shares during the last quarter. Eagle Boston Investment Management Inc. grew its holdings in shares of World Wrestling Entertainment by 100.8% during the second quarter. Eagle Boston Investment Management Inc. now owns 916,673 shares of the company’s stock valued at $19,516,000 after buying an additional 460,117 shares during the last quarter. Finally, State Street Corp boosted its holdings in World Wrestling Entertainment by 5.5% in the second quarter. State Street Corp now owns 872,209 shares of the company’s stock valued at $17,763,000 after purchasing an additional 45,601 shares during the last quarter. 49.75% of the stock is currently owned by hedge funds and other institutional investors.

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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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