World Wrestling Entertainment (NYSE:WWE) Price Target Increased to $82.00 by Analysts at Guggenheim


World Wrestling Entertainment (NYSE:WWEGet Rating) had its price objective increased by investment analysts at Guggenheim from $75.00 to $82.00 in a note issued to investors on Thursday, The Fly reports. Guggenheim’s price objective points to a potential upside of 22.06% from the stock’s current price.

WWE has been the topic of a number of other research reports. StockNews.com initiated coverage on shares of World Wrestling Entertainment in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. TheStreet upgraded shares of World Wrestling Entertainment from a “c+” rating to a “b-” rating in a research report on Monday, May 16th. Wolfe Research raised their price target on shares of World Wrestling Entertainment from $57.00 to $68.00 and gave the company a “peer perform” rating in a research report on Thursday, June 2nd. JPMorgan Chase & Co. raised their price target on shares of World Wrestling Entertainment from $58.00 to $64.00 in a research report on Thursday, April 21st. Finally, Barclays raised their price target on shares of World Wrestling Entertainment from $55.00 to $57.00 and gave the company an “equal weight” rating in a research report on Thursday, April 7th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $67.78.

NYSE WWE opened at $67.18 on Thursday. The stock has a market cap of $4.99 billion, a P/E ratio of 28.11 and a beta of 1.23. World Wrestling Entertainment has a 12-month low of $46.81 and a 12-month high of $68.73. The company has a fifty day simple moving average of $61.87 and a two-hundred day simple moving average of $56.63. The company has a current ratio of 1.53, a quick ratio of 1.51 and a debt-to-equity ratio of 0.97.

World Wrestling Entertainment (NYSE:WWEGet Rating) last released its quarterly earnings data on Thursday, May 5th. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.09. The firm had revenue of $333.40 million for the quarter, compared to analyst estimates of $325.70 million. World Wrestling Entertainment had a net margin of 17.40% and a return on equity of 53.60%. The business’s quarterly revenue was up 26.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.51 earnings per share. As a group, sell-side analysts forecast that World Wrestling Entertainment will post 2.48 earnings per share for the current year.

In other World Wrestling Entertainment news, EVP Bradley Blum sold 9,800 shares of World Wrestling Entertainment stock in a transaction dated Wednesday, March 23rd. The shares were sold at an average price of $60.14, for a total transaction of $589,372.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Kevin Dunn sold 15,000 shares of World Wrestling Entertainment stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $66.70, for a total transaction of $1,000,500.00. Following the transaction, the insider now directly owns 271,171 shares in the company, valued at $18,087,105.70. The disclosure for this sale can be found here. Company insiders own 41.40% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in WWE. Franklin Resources Inc. increased its position in shares of World Wrestling Entertainment by 23.6% during the third quarter. Franklin Resources Inc. now owns 5,369 shares of the company’s stock valued at $303,000 after acquiring an additional 1,024 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of World Wrestling Entertainment by 10.0% in the third quarter. Dimensional Fund Advisors LP now owns 496,532 shares of the company’s stock valued at $27,935,000 after purchasing an additional 45,008 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of World Wrestling Entertainment by 134.1% in the third quarter. Royal Bank of Canada now owns 24,169 shares of the company’s stock valued at $1,360,000 after purchasing an additional 95,063 shares in the last quarter. Guggenheim Capital LLC grew its holdings in shares of World Wrestling Entertainment by 4.0% in the third quarter. Guggenheim Capital LLC now owns 12,144 shares of the company’s stock valued at $683,000 after purchasing an additional 472 shares in the last quarter. Finally, Gotham Asset Management LLC grew its holdings in shares of World Wrestling Entertainment by 17.4% in the third quarter. Gotham Asset Management LLC now owns 17,295 shares of the company’s stock valued at $973,000 after purchasing an additional 2,568 shares in the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

About World Wrestling Entertainment (Get Rating)

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.

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