World Wrestling Entertainment, Inc. (WWE) Expected to Announce Quarterly Sales of $205.25 Million

Wall Street analysts expect World Wrestling Entertainment, Inc. (NYSE:WWE) to report $205.25 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for World Wrestling Entertainment’s earnings. The highest sales estimate is $207 million and the lowest is $203.5 million. World Wrestling Entertainment reported sales of $199 million in the same quarter last year, which suggests a positive year over year growth rate of 3.1%. The firm is scheduled to report its next earnings report on Thursday, July 27th.

According to Zacks, analysts expect that World Wrestling Entertainment will report full-year sales of $205.25 million for the current fiscal year, with estimates ranging from $766.8 million to $773 million. For the next financial year, analysts anticipate that the business will report sales of $811.85 million per share, with estimates ranging from $800.4 million to $823.3 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for World Wrestling Entertainment.

World Wrestling Entertainment (NYSE:WWE) last announced its quarterly earnings results on Thursday, May 4th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.11 by $0.03. The firm had revenue of $188.40 million for the quarter, compared to analyst estimates of $183.41 million. World Wrestling Entertainment had a return on equity of 15.21% and a net margin of 4.64%. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.18 EPS.

Several equities analysts recently commented on the stock. TheStreet raised shares of World Wrestling Entertainment from a “c+” rating to a “b-” rating in a research report on Thursday, May 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 price target on shares of World Wrestling Entertainment in a research report on Tuesday, April 4th. BTIG Research reaffirmed a “buy” rating and set a $25.00 price target on shares of World Wrestling Entertainment in a research report on Sunday, April 2nd. Citigroup Inc assumed coverage on shares of World Wrestling Entertainment in a research report on Monday, March 27th. They set a “buy” rating and a $25.00 price target for the company. Finally, Benchmark Co. reaffirmed a “buy” rating and set a $25.86 price target (up previously from $21.29) on shares of World Wrestling Entertainment in a research report on Thursday, February 16th. Two analysts have rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the stock. World Wrestling Entertainment currently has an average rating of “Buy” and an average target price of $23.49.

In other World Wrestling Entertainment news, insider Kevin Dunn sold 100,908 shares of the business’s stock in a transaction that occurred on Tuesday, February 14th. The shares were sold at an average price of $22.61, for a total transaction of $2,281,529.88. Following the completion of the sale, the insider now directly owns 529,620 shares in the company, valued at $11,974,708.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Mark Kowal sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $22.51, for a total transaction of $157,570.00. Following the sale, the senior vice president now owns 24,439 shares of the company’s stock, valued at $550,121.89. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 123,412 shares of company stock valued at $2,774,287. 55.10% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in the company. Lindsell Train Ltd increased its stake in World Wrestling Entertainment by 1.5% in the first quarter. Lindsell Train Ltd now owns 6,796,233 shares of the company’s stock valued at $151,012,000 after buying an additional 98,552 shares in the last quarter. BlackRock Fund Advisors increased its stake in World Wrestling Entertainment by 13.3% in the third quarter. BlackRock Fund Advisors now owns 2,495,495 shares of the company’s stock valued at $53,154,000 after buying an additional 293,354 shares in the last quarter. State Street Corp increased its stake in World Wrestling Entertainment by 7.7% in the fourth quarter. State Street Corp now owns 756,551 shares of the company’s stock valued at $13,922,000 after buying an additional 54,238 shares in the last quarter. Artemis Investment Management LLP increased its stake in World Wrestling Entertainment by 64.4% in the fourth quarter. Artemis Investment Management LLP now owns 581,345 shares of the company’s stock valued at $10,699,000 after buying an additional 227,801 shares in the last quarter. Finally, Eagle Boston Investment Management Inc. increased its stake in World Wrestling Entertainment by 5.5% in the first quarter. Eagle Boston Investment Management Inc. now owns 456,556 shares of the company’s stock valued at $10,144,000 after buying an additional 23,764 shares in the last quarter. Institutional investors own 47.84% of the company’s stock.

Shares of World Wrestling Entertainment (NYSE:WWE) traded down 0.50% during mid-day trading on Wednesday, hitting $20.06. 74,877 shares of the stock were exchanged. The stock has a market cap of $1.53 billion, a PE ratio of 74.30 and a beta of 0.71. The company has a 50-day moving average of $21.50 and a 200 day moving average of $19.97. World Wrestling Entertainment has a one year low of $16.58 and a one year high of $23.14.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 26th. Shareholders of record on Thursday, June 15th will be paid a dividend of $0.12 per share. The ex-dividend date is Tuesday, June 13th. This represents a $0.48 annualized dividend and a yield of 2.38%. World Wrestling Entertainment’s dividend payout ratio is currently 111.63%.

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About World Wrestling Entertainment

World Wrestling Entertainment, Inc (WWE) is an integrated media and entertainment company. The Company’s segments are Network, Television, Home Entertainment, Digital Media, Live Events, Licensing, Venue Merchandise, WWEShop, WWE Studios, and Corporate and Other. The Company is engaged in the production and distribution of content through various channels, including its WWE Network, television rights agreements, pay-per-view event programming, live events, feature films, licensing of various WWE themed products, and the sale of consumer products featuring its brands.

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