Citigroup Initiates Coverage On World Wrestling Entertainment to Buy with Price Target $25

Citigroup Initiates Coverage On World Wrestling Entertainment(WWE). In a research note issued to the investors, the brokerage major Announces the price-target to $25 per share. The shares have been rated Buy. The rating by the stock financial advisor at Citigroup was issued on Mar 27, 2017 in a research report to their Investors and Clients.

World Wrestling Entertainment (WWE) made into the market gainers list on Fridays trading session with the shares advancing 0.97% or 0.21 points. Due to strong positive momentum, the stock ended at $21.95, which is also near the day’s high of $22.3. The stock began the session at $21.75 and the volume stood at 5,82,402 shares. The 52-week high of the shares is $23.14 and the 52 week low is $15.55. The company has a current market capitalization of $1,678 M and it has 7,64,48,952 shares in outstanding.

World Wrestling Entertainment(WWE) last announced its earnings results on Oct 27, 2016 for Fiscal Year 2016 and Q3.Company reported revenue of $164.20M. Analysts had an estimated revenue of $175.04M. Earnings per share were $0.14. The reported EPS was above estimates by $0.03 or NaN%. Analysts had estimated an EPS of $0.17.

Several Insider Transactions has been reported to the SEC. On Mar 20, 2017, Michael J. Luisi (President, WWE Studios) sold 7,125 shares at $21.16 per share price.Also, On Feb 17, 2017, Basil V. Jr. Devito (Sr. Advisor, Bus. Strategies) sold 8,379 shares at $22.01 per share price.On Feb 16, 2017, Mark Kowal (SVP, Controller; CAO) sold 7,000 shares at $22.51 per share price, according to the Form-4 filing with the securities and exchange commission.

World Wrestling Entertainment Inc. (WWE) is a media and entertainment company. The Company is involved in the sports entertainment business. The Company develops content through network television online and its live events. The Company operates in 10 segments: Network Television Home Entertainment Digital Media Live Events Licensing Venue Merchandise WWEShop WWE Studios and Corporate and Other. Its network segment includes its pay-per-view business. Its WWE Network is available approximately in 170 countries and territories. The Company’s television programs are viewed in over 170 countries and 35 languages across the world. The Company’s home entertainment titles are sold through retailers as well as subscription and transactional on-demand outlets. WWE also markets and distributes content and digital products and sells online advertising. WWE’s venue merchandise segment is involved in designing sourcing marketing and distributing of various branded products.

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