WWE (WWE) Price Target Raised to $46.00

WWE (NYSE:WWE) had its price objective increased by equities research analysts at JPMorgan Chase to $46.00 in a research note issued to investors on Friday. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase’s price objective suggests a potential downside of 8.57% from the company’s current price.

A number of other analysts have also recently commented on WWE. Needham & Company LLC lifted their price target on WWE from $25.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Morgan Stanley raised WWE from an “equal weight” rating to an “overweight” rating and set a $23.00 price target for the company in a research report on Tuesday, January 30th. Zacks Investment Research raised WWE from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a research report on Saturday, February 3rd. Benchmark reaffirmed a “buy” rating and set a $40.00 price target (up previously from $28.00) on shares of WWE in a research report on Friday, February 9th. Finally, KeyCorp raised WWE from a “sector weight” rating to an “overweight” rating and set a $48.00 price target for the company in a research report on Monday, February 12th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $42.45.

Shares of WWE opened at $50.31 on Friday. WWE has a one year low of $43.48 and a one year high of $43.83. The company has a quick ratio of 3.18, a current ratio of 3.26 and a debt-to-equity ratio of 0.76. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of 77.40 and a beta of 0.87.

WWE (NYSE:WWE) last issued its quarterly earnings results on Thursday, May 3rd. The company reported $0.18 EPS for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.05. WWE had a return on equity of 23.28% and a net margin of 5.81%. The company had revenue of $187.70 million during the quarter, compared to analysts’ expectations of $194.34 million. During the same quarter in the previous year, the firm posted $0.01 EPS. The firm’s revenue was down .4% compared to the same quarter last year. equities research analysts expect that WWE will post 0.86 earnings per share for the current year.

Hedge funds have recently modified their holdings of the company. Elkfork Partners LLC acquired a new position in shares of WWE in the 4th quarter valued at about $147,000. LS Investment Advisors LLC lifted its holdings in shares of WWE by 31.6% in the 4th quarter. LS Investment Advisors LLC now owns 6,296 shares of the company’s stock valued at $193,000 after buying an additional 1,512 shares during the period. Wolverine Trading LLC lifted its holdings in shares of WWE by 153.9% in the 4th quarter. Wolverine Trading LLC now owns 7,386 shares of the company’s stock valued at $226,000 after buying an additional 21,086 shares during the period. Quantitative Systematic Strategies LLC acquired a new position in shares of WWE in the 4th quarter valued at about $324,000. Finally, FDx Advisors Inc. lifted its holdings in shares of WWE by 25.5% in the 4th quarter. FDx Advisors Inc. now owns 11,688 shares of the company’s stock valued at $357,000 after buying an additional 2,372 shares during the period. 57.56% of the stock is owned by institutional investors and hedge funds.

About WWE

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. The company operates through Network, Television, Home Entertainment, Digital Media, Live Events, Licensing, Venue Merchandise, WWEShop, and WWE Studios segments.

Analyst Recommendations for WWE (NYSE:WWE)

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