$262.40 Million in Sales Expected for World Wrestling Entertainment, Inc. (WWE) This Quarter

Equities research analysts expect World Wrestling Entertainment, Inc. (NYSE:WWE) to report sales of $262.40 million for the current quarter, Zacks reports. Two analysts have issued estimates for World Wrestling Entertainment’s earnings, with estimates ranging from $247.60 million to $277.20 million. World Wrestling Entertainment posted sales of $281.60 million during the same quarter last year, which suggests a negative year-over-year growth rate of 6.8%. The company is scheduled to issue its next earnings report on Thursday, July 25th.

On average, analysts expect that World Wrestling Entertainment will report full year sales of $997.36 million for the current fiscal year, with estimates ranging from $961.70 million to $1.03 billion. For the next year, analysts forecast that the company will post sales of $1.30 billion, with estimates ranging from $1.24 billion to $1.33 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow World Wrestling Entertainment.

World Wrestling Entertainment (NYSE:WWE) last announced its quarterly earnings data on Thursday, April 25th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.09). World Wrestling Entertainment had a net margin of 8.26% and a return on equity of 25.24%. The business had revenue of $182.40 million during the quarter, compared to the consensus estimate of $199.24 million. During the same period in the previous year, the business posted $0.18 earnings per share. World Wrestling Entertainment’s revenue was down 2.8% compared to the same quarter last year.

A number of brokerages have issued reports on WWE. Zacks Investment Research cut shares of World Wrestling Entertainment from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 30th. JPMorgan Chase & Co. raised their price objective on shares of World Wrestling Entertainment from $95.00 to $105.00 and gave the company an “overweight” rating in a research note on Tuesday, April 23rd. Cannonball Research cut shares of World Wrestling Entertainment from a “buy” rating to a “neutral” rating and set a $88.00 price objective on the stock. in a research note on Monday, April 1st. MKM Partners raised their price objective on shares of World Wrestling Entertainment from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, March 26th. Finally, Loop Capital raised shares of World Wrestling Entertainment from a “hold” rating to a “buy” rating and raised their price objective for the company from $85.00 to $100.00 in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $103.00.

In related news, CEO Vincent K. Mcmahon sold 3,204,427 shares of the firm’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $81.45, for a total transaction of $261,000,579.15. Following the sale, the chief executive officer now directly owns 3,285,919 shares in the company, valued at $267,638,102.55. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider George A. Barrios sold 40,000 shares of the firm’s stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $83.80, for a total transaction of $3,352,000.00. The disclosure for this sale can be found here. Company insiders own 43.90% of the company’s stock.

Large investors have recently modified their holdings of the stock. Pearl River Capital LLC acquired a new stake in shares of World Wrestling Entertainment during the fourth quarter worth $36,000. Kwmg LLC acquired a new stake in shares of World Wrestling Entertainment during the first quarter worth $49,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of World Wrestling Entertainment by 27.7% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 562 shares of the company’s stock worth $49,000 after acquiring an additional 122 shares during the period. Premia Global Advisors LLC acquired a new stake in World Wrestling Entertainment in the 1st quarter valued at $48,000. Finally, Cerebellum GP LLC acquired a new stake in World Wrestling Entertainment in the 4th quarter valued at $71,000. Institutional investors and hedge funds own 64.01% of the company’s stock.

WWE stock traded down $1.52 during midday trading on Friday, reaching $78.56. The company’s stock had a trading volume of 673,600 shares, compared to its average volume of 1,074,708. World Wrestling Entertainment has a 52 week low of $51.58 and a 52 week high of $100.45. The stock has a market cap of $6.25 billion, a PE ratio of 70.14 and a beta of 1.29. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.25 and a current ratio of 1.28.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Friday, June 14th will be issued a $0.12 dividend. The ex-dividend date is Thursday, June 13th. This represents a $0.48 annualized dividend and a yield of 0.61%. World Wrestling Entertainment’s dividend payout ratio (DPR) is presently 42.86%.

World Wrestling Entertainment Company Profile

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.

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