In the latest trading session, World Wrestling Entertainment (WWE) closed at $68.20, marking a +1.56% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.84%. Meanwhile, the Dow lost 0.36%, and the Nasdaq, a tech-heavy index, lost 0.15%.
Heading into today, shares of the producer of professional wrestling events and television shows had lost 2.47% over the past month, outpacing the Consumer Discretionary sector's loss of 11.36% and the S&P 500's loss of 10.24% in that time.
Wall Street will be looking for positivity from World Wrestling Entertainment as it approaches its next earnings report date. The company is expected to report EPS of $0.48, down 7.69% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $285.73 million, up 11.7% from the year-ago period.
WWE's full-year Zacks Consensus Estimates are calling for earnings of $2.49 per share and revenue of $1.3 billion. These results would represent year-over-year changes of +17.45% and +18.61%, respectively.
Investors should also note any recent changes to analyst estimates for World Wrestling Entertainment. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. World Wrestling Entertainment currently has a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that World Wrestling Entertainment has a Forward P/E ratio of 27.02 right now. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 27.02.
The Film and Television Production and Distribution industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 180, putting it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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World Wrestling Entertainment, Inc. (WWE) : Free Stock Analysis Report
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