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world wrestling entertainment corp. (NYSE: WWE – Get a rating) declared a quarterly dividend on Thursday, October 27, Zacks Report. Investors of record on Thursday, December 15 will receive a dividend of 0.12 per share on Tuesday, December 27. This translates to an annualized dividend of $0.48 and a yield of 0.61%. The ex-dividend date for this dividend is Wednesday, December 14.
World Wrestling Entertainment’s payout ratio of 17.0% indicates that its dividend is fully covered by earnings. Research analysts expect World Wrestling Entertainment to post earnings of $2.78 per share next year, which means the company should be able to continue paying an annual dividend of $0.48, with a projected payout ratio of 17.3% going forward.
World Wrestling Entertainment stock performance
World Wrestling Entertainment Stock It opened at $78.72 on Friday. The company’s gearing ratio is 0.88, its current ratio is 1.60, and its quick ratio is 1.58. The company’s 50-day moving average is $71.28 and its 200-day moving average is $66.63. The company has a market cap of $5.86 billion, a price-to-earnings ratio of 29.93, and a beta of 1.11. World Wrestling Entertainment had a 12-month low of $46.91 and a 12-month high of $79.83.
World Wrestling Entertainment (NYSE: WWE – Get a rating) last reported its earnings results on Tuesday, August 16. The company reported earnings per share (EPS) of $0.59 for the quarter, beating analysts’ consensus estimate of $0.56 by $0.03. The business reported revenue of $328.2 million for the quarter, compared with analysts’ estimates of $322.38 million. World Wrestling Entertainment’s return on equity was 55.00% and its net profit margin was 18.12%. The company’s revenue for the quarter rose 23.6% compared to the same period last year. In the year-ago period, the company earned $0.42 per share. On average, research analysts forecast earnings per share of 2.49 for the current fiscal year for World Wrestling Entertainment.
Institutional inflows and outflows
Some large investors have recently revised their holdings in WWE. Rice Hall James & Associates LLC’s presence in World Wrestling Entertainment rose 6.4 percent in the first quarter. Rice Hall James & Associates LLC now owns 767,630 shares of the company’s stock valued at $47,931,000 after purchasing an additional 46,351 shares in the previous quarter. US Bancorp DE increased its stake in World Wrestling Entertainment by 55.9% in the first quarter. US Bancorp DE now owns 957 shares of the company’s stock, valued at $59,000, after buying an additional 343 shares in the previous quarter. Cambridge Investment Research Advisors Inc. acquired a new position in World Wrestling Entertainment stock for about $235,000 in the first quarter. The Ontario Health Care Pension Plan Trust increased its stake in World Wrestling Entertainment by 11,166.7 per cent in the first quarter. After acquiring an additional 20,100 shares during this period, the Ontario Health Care Pension Plan Trust now owns 20,280 shares of the company’s stock, valued at $1,266,000. Finally, MetLife Investment Management LLC increased its stake in World Wrestling Entertainment by 38.2% in the first quarter. MetLife Investment Management LLC now owns 29,949 shares of the company’s stock, valued at $1,870,000, after purchasing an additional 8,279 shares in the previous quarter. 69.94% of the stock is held by institutional investors and hedge funds.
Wall Street analysts predict growth
A number of research firms have commented on WWE. Citigroup raised its price target on World Wrestling Entertainment stock to $83.00 in a report on Monday, Aug. 22. MKM Partners raised its price target on World Wrestling Entertainment stock to $90.00 from $84.00 and gave the company a “buy” rating in a Wednesday, Oct. 19 research note. Loop Capital upgraded World Wrestling Entertainment to a “buy” rating from a “hold” rating in a report on Wednesday, Aug. 3, and lowered its price target on the stock to $90.00 from $159.00. Barclays raised its price target on World Wrestling Entertainment to $69.00 from $61.00 and gave the company an “equal weight” rating in a Wednesday, Aug. 17 report. Finally, Northcoast Research downgraded World Wrestling Entertainment from a “buy” rating to a “neutral” rating in a report on Thursday, August 18. They noted that the move was a valuation call. One investment analyst has a sell rating on the stock, five have a hold rating and six have a buy rating on the company. According to MarketBeat.com, World Wrestling Entertainment has a consensus rating of “hold” and a consensus price target of $78.40.
About World Wrestling Entertainment
World Wrestling Entertainment, Inc is an integrated media and entertainment company engaged in sports entertainment in North America, Europe, the Middle East, Africa, Asia Pacific and Latin America. It operates through three segments: Media, Live Events and Consumer Products. The Media segment is engaged in the production and monetization of long-form and short-form video content across a variety of platforms, including the WWE Network, broadcast and pay-TV, digital and social media, and film entertainment.
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