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WWE

WWE

$37.03

-0.49 (-1.31%)

16:49
04/09/18
04/09
16:49
04/09/18
16:49

WWE closes well off lows after releasing WrestleMania viewer data

Shares of World Wrestling Entertainment (WWE), the media company behind the production and distribution of wrestling content through various channels, including its WWE Network, television rights agreements, pay-per-view event programming, and live events, spiked higher in late afternoon trading following a press release from the company that showed a 9% increase in WrestleMania viewers on Sunday night. WRESTLEMANIA: WWE announced that its digital streaming service, WWE Network, reached a record 2.12M total subscribers following Sunday night's WrestleMania. This is a 9% increase from April 3, 2017, the day after WrestleMania last year. "We expect to deliver record subscriber levels, revenue and adjusted OIBDA in 2018," said WWE co-president George Barrios. "WWE Network's continued growth along with our massive reach across traditional television as well as digital and social platforms, reaffirms the effectiveness of our global, multi-platform content strategy." GUIDANCE: In addition to the WrestleMania data, the WWE release featured raised guidance both for Q1 and FY18. The WWE now sees Q1 adjusted OIBDA -- or Operating Income Before Depreciation and Amortization -- of at least $30M, exceeding its previous guidance of $23M-$27M. For FY18, the WWE sees adjusted OIBDA of at least $145M, exceeding its previous guidance of at least $140M. That number, if reached, would be an all-time record. PRICE ACTION: While shares of WWE still closed down 1.3% in Monday's session, closing at $37.03, they spiked higher following the company's late day release, and finished the day well off their intraday low of $36.28.

  • 09

    Apr

  • 19

    Apr

WWE WWE
$37.03

-0.49 (-1.31%)

01/30/18
01/30/18
UPGRADE
Target $40

Overweight
WWE upgraded on rights renewals, strategic potential at Morgan Stanley
As previously reported, Morgan Stanley analyst Benjamin Swinburne upgraded WWE to Overweight from Equal Weight, arguing that the race for sports rights and exclusive content should accelerate the company's revenue growth over the next 2-3 years. Meanwhile, over the same time frame WWE's cost base should continue to grow at a controlled pace, estimates Swinburne. He also believes WWE is a potentially interesting strategic asset in the rapidly consolidating world of media, he added. Swinburne raised his price target to $40 from $23 on WWE shares.
02/11/18
KEYB
02/11/18
UPGRADE
KEYB
Overweight
WWE upgraded to Overweight from Sector Weight at KeyBanc
02/12/18
KEYB
02/12/18
UPGRADE
Target $43
KEYB
Overweight
WWE upgraded to Overweight from Sector Weight at KeyBanc
KeyBanc analyst Evan Wingren upgraded WWE to Overweight with a $43 price target. The analyst expects operating leverage expansion from the company's TV renewal cycle and increasing digital content opportunities. He sees further upside in the shares despite the recent rally.
03/07/18
NEED
03/07/18
NO CHANGE
Target $45
NEED
Buy
WWE price target raised to $45 from $38 at Needham
Needham analyst Laura Martin raised her price target on WWE to $45 and kept her Buy rating, citing several near-term and longer term positive catalysts. In the short run, Martin points to favorable TV license fee renewals in the U.S., U.K., and India markets along with the OTT subscription seen in U.S. and overseas. Over the long term, the analyst notes the company's potential to increase the total addressable market with more "women and globally relevant wrestlers" becoming central in WWE's events. Martin adds that the longer term positives include slowing costs and rising international revenue streams.

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GDOT

Green Dot

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  • 25

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SMSI

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NDRA

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$2.70

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BA

Boeing

$346.44

0.55 (0.16%)

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BA

Boeing

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LLL

L3 Technologies

$210.37

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HSGX

Histogenics

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PLD

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, DCT

DCT Industrial

$68.77

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DCT Industrial to host special shareholder meeting »

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WLK

Westlake Chemical

$95.61

-1.33 (-1.37%)

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SM

SM Energy

$27.38

0.17 (0.62%)

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  • 19

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PENN

Penn National

$33.04

0.86 (2.67%)

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FB

Facebook

$173.78

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WLK

Westlake Chemical

$95.61

-1.33 (-1.37%)

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  • 05

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EAST

Eastside Distilling

$7.40

-0.01 (-0.13%)

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LOV

Spark Networks

$12.80

-0.095 (-0.74%)

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Syndicate
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AHPA

Avista Healthcare Public Acquisition Corp.

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TCF

TCF Financial

$25.84

0.17 (0.66%)

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LGF.A

Lionsgate

$22.95

-0.11 (-0.48%)

16:38
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  • 11

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MSL

MidSouth Bancorp

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EME

EMCOR

$77.96

1.005 (1.31%)

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16:30
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Options
Preliminary option volume of 22.3M today »

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