World Wrestling Entertainment, Inc. (NYSE:WWE) declared a quarterly dividend on Friday, July 21st, Wall Street Journal reports. Investors of record on Friday, September 15th will be paid a dividend of 0.12 per share on Monday, September 25th. This represents a $0.48 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Thursday, September 14th.
World Wrestling Entertainment has a payout ratio of 102.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect World Wrestling Entertainment to earn $0.64 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 75.0%.
World Wrestling Entertainment (WWE) traded up 0.44% during trading on Friday, reaching $22.60. 192,274 shares of the company traded hands. The firm’s 50 day moving average price is $21.46 and its 200 day moving average price is $21.01. World Wrestling Entertainment has a 12-month low of $16.77 and a 12-month high of $23.14. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 68.90 and a beta of 0.79.
World Wrestling Entertainment (NYSE:WWE) last posted its quarterly earnings results on Thursday, July 27th. The company reported $0.06 EPS for the quarter, hitting the consensus estimate of $0.06. The business had revenue of $214.60 million for the quarter, compared to analyst estimates of $209.28 million. World Wrestling Entertainment had a return on equity of 13.07% and a net margin of 3.29%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.01 EPS. Equities research analysts expect that World Wrestling Entertainment will post $0.46 earnings per share for the current year.
Several research firms have weighed in on WWE. BidaskClub downgraded World Wrestling Entertainment from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. ValuEngine raised World Wrestling Entertainment from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Benchmark Co. reissued a “buy” rating and set a $25.00 price objective (down from $26.00) on shares of World Wrestling Entertainment in a research report on Sunday, July 30th. Zacks Investment Research raised World Wrestling Entertainment from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Monday, July 31st. Finally, Morgan Stanley initiated coverage on World Wrestling Entertainment in a research report on Friday, June 30th. They set an “equal weight” rating and a $23.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. World Wrestling Entertainment has a consensus rating of “Buy” and a consensus target price of $24.38.
In other World Wrestling Entertainment news, CRO Michelle D. Wilson sold 55,000 shares of World Wrestling Entertainment stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $21.25, for a total transaction of $1,168,750.00. Following the sale, the executive now owns 436,174 shares of the company’s stock, valued at approximately $9,268,697.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Basil V. Jr. Devito sold 25,537 shares of World Wrestling Entertainment stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $21.59, for a total value of $551,343.83. Following the sale, the insider now directly owns 65,616 shares in the company, valued at approximately $1,416,649.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 173,231 shares of company stock valued at $3,660,354. Insiders own 49.80% of the company’s stock.
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World Wrestling Entertainment Company Profile
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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