World Wrestling Entertainment, Inc. (NYSE:WWE) is among the top gainers of the stock market today, skyrocketing 2.7% or (1.66 points) to $63.06 from its previous close of $61.4. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 368960 contracts so far this session. WWE shares had a relatively better volume day versus average trading capacity of 1.27 million shares, but with a 46.9 million float and a -5.74% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for WWE stock indicates that the average analyst price target is $82.44 per share. This means the stock has a potential increase of 30.73% from where the WWE share price has been trading recently.
During the recent trading session for World Wrestling Entertainment, Inc. (NYSE:WWE), the company witnessed their stock drop by $-3.4 over a week and surge $0.14 from the price 20 days ago. When compared to their established 52-week high of $100.45, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 04/24/19. The recent low of $52.69 stood for a -37.22% since 04/11/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.35 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for World Wrestling Entertainment, Inc., the two-week RSI stands at 51.99. This figure suggests that WWE stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current WWE readings is similarly very revealing as it has a stochastic reading of 21.44% at this stage. This figure means that WWE share price today is being overbought.
Technical chart claims that World Wrestling Entertainment, Inc. (WWE) would settle between $62.03/share to $62.67/share level. However, if the stock price goes below the $60.27 mark, then the market for World Wrestling Entertainment, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $59.15 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -1.87. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Citigroup raised their recommendation on shares of WWE from Neutral to Buy in their opinion released on November 08. Wells Fargo analysts again handed out a Outperform recommendation to World Wrestling Entertainment, Inc. (NYSE:WWE) stock but they lifted target price for the shares in a flash note issued to investors on November 04. The target price has been raised from $94 to $80. Analysts at The Benchmark Company are sticking to their Buy stance. However, on November 04, they lifted price target for these shares to $79 from $90.
WWE equity has an average rating of 2.37, with the figure leaning towards a bullish end. 15 analysts who tracked the company were contacted by Reuters. Amongst them, 2 rated the stock as a hold while the remaining 13 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 13 analysts rated World Wrestling Entertainment, Inc. (NYSE:WWE) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, WWE stock price is currently trading at 24.09X forward 12-month Consensus EPS estimates, and its P/E ratio is 111.6 while for the average stock in the same group, the multiple is 19.7. World Wrestling Entertainment, Inc. current P/B ratio of 16.5 means it is trading at a premium against its industry’s 3.7.
World Wrestling Entertainment, Inc. (WWE)’s current-quarter revenues are projected to climb by nearly 23.3% to hit $336080, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 4.7% from $930200 to a noteworthy $973810. At the other end of the current quarter income statement, World Wrestling Entertainment, Inc. is expected to see its adjusted earnings surge by roughly 63% to hit $0.75 per share. For the fiscal year, WWE’s earnings are projected to climb by roughly -24.1% to hit $0.85 per share.