World Wrestling Entertainment (NYSE:WWE) Upgraded at Loop Capital

Loop Capital upgraded shares of World Wrestling Entertainment (NYSE:WWE) from a sell rating to a hold rating in a research note published on Monday morning, Benzinga reports. They currently have $42.00 price target on the stock, up from their previous price target of $38.00.

Other analysts have also issued reports about the stock. Guggenheim lifted their target price on shares of World Wrestling Entertainment from $60.00 to $66.00 and gave the company a buy rating in a research report on Friday, July 31st. Needham & Company LLC reiterated a buy rating and set a $50.00 target price on shares of World Wrestling Entertainment in a research report on Friday, July 31st. Citigroup decreased their target price on shares of World Wrestling Entertainment from $58.00 to $55.00 and set a buy rating on the stock in a research report on Tuesday, August 4th. Wells Fargo & Company reiterated a sell rating on shares of World Wrestling Entertainment in a research report on Thursday, July 30th. Finally, Morgan Stanley lifted their target price on shares of World Wrestling Entertainment from $50.00 to $52.00 and gave the company an equal weight rating in a research report on Friday, July 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. World Wrestling Entertainment has a consensus rating of Buy and a consensus target price of $55.07.

NYSE:WWE opened at $41.08 on Monday. The firm’s 50-day moving average is $44.08 and its 200-day moving average is $42.84. World Wrestling Entertainment has a 52-week low of $29.10 and a 52-week high of $76.44. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.27 and a current ratio of 1.29. The company has a market cap of $3.20 billion, a price-to-earnings ratio of 24.60 and a beta of 1.44.

World Wrestling Entertainment (NYSE:WWE) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.37. World Wrestling Entertainment had a net margin of 14.18% and a return on equity of 48.59%. The company had revenue of $223.40 million for the quarter, compared to the consensus estimate of $228.89 million. Equities analysts predict that World Wrestling Entertainment will post 1.55 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.12 per share. The ex-dividend date is Monday, September 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.17%. World Wrestling Entertainment’s payout ratio is 56.47%.

Several hedge funds have recently made changes to their positions in WWE. Private Advisor Group LLC acquired a new position in shares of World Wrestling Entertainment during the second quarter worth approximately $28,000. PNC Financial Services Group Inc. lifted its position in shares of World Wrestling Entertainment by 24.5% during the first quarter. PNC Financial Services Group Inc. now owns 1,465 shares of the company’s stock worth $50,000 after purchasing an additional 288 shares in the last quarter. Macquarie Group Ltd. acquired a new position in shares of World Wrestling Entertainment during the second quarter worth approximately $50,000. FDx Advisors Inc. lifted its position in shares of World Wrestling Entertainment by 368.4% during the first quarter. FDx Advisors Inc. now owns 19,077 shares of the company’s stock worth $58,000 after purchasing an additional 15,004 shares in the last quarter. Finally, Stephenson National Bank & Trust lifted its position in shares of World Wrestling Entertainment by 26.4% during the second 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. Institutional investors own 67.50% of the company’s stock.

About World Wrestling Entertainment

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.

Further Reading: The Discount Rate – What You Need to Know

Analyst Recommendations for World Wrestling Entertainment (NYSE:WWE)

Receive News & Ratings for World Wrestling Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for World Wrestling Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.