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WWE (WWE) Moves 8.9% Higher: Will This Strength Last?
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World Wrestling Entertainment shares ended the last trading session 8.9% higher at $97.23. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 9.2% gain over the past four weeks.
In latest developments, the company together with Endeavor Group have agreed to establish a new, publicly listed company comprising two complementary, global sports and entertainment brands – UFC and WWE. On the closure of this deal, Endeavor will hold a 51% controlling stake in the new company while the existing WWE shareholders will own a 49% interest. This move reflects the successful conclusion of World Wrestling’s strategic options review process.
This producer of professional wrestling events and television shows is expected to post quarterly earnings of $0.42 per share in its upcoming report, which represents a year-over-year change of -45.5%. Revenues are expected to be $287.01 million, down 13.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For WWE, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on WWE going forward to see if this recent jump can turn into more strength down the road.
WWE is part of the Zacks Film and Television Production and Distribution industry. Lions Gate Entertainment (LGF.A - Free Report) , another stock in the same industry, closed the last trading session 1.7% higher at $11.02. LGF.A has returned 3.6% in the past month.
Lions Gate's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.20. Compared to the company's year-ago EPS, this represents a change of +233.3%. Lions Gate currently boasts a Zacks Rank of #2 (Buy).
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WWE (WWE) Moves 8.9% Higher: Will This Strength Last?
World Wrestling Entertainment shares ended the last trading session 8.9% higher at $97.23. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 9.2% gain over the past four weeks.
In latest developments, the company together with Endeavor Group have agreed to establish a new, publicly listed company comprising two complementary, global sports and entertainment brands – UFC and WWE. On the closure of this deal, Endeavor will hold a 51% controlling stake in the new company while the existing WWE shareholders will own a 49% interest. This move reflects the successful conclusion of World Wrestling’s strategic options review process.
This producer of professional wrestling events and television shows is expected to post quarterly earnings of $0.42 per share in its upcoming report, which represents a year-over-year change of -45.5%. Revenues are expected to be $287.01 million, down 13.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For WWE, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on WWE going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
WWE is part of the Zacks Film and Television Production and Distribution industry. Lions Gate Entertainment (LGF.A - Free Report) , another stock in the same industry, closed the last trading session 1.7% higher at $11.02. LGF.A has returned 3.6% in the past month.
Lions Gate's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.20. Compared to the company's year-ago EPS, this represents a change of +233.3%. Lions Gate currently boasts a Zacks Rank of #2 (Buy).