Zacks Investment Opinion Highlights: World Wrestling Entertainment

For immediate release

CHICAGO, IL – August 23, 2022 – Today, Zacks Investment Ideas feature highlights world wrestling entertainment WWE.

A bullish run defies the odds for this entertainment stock

Market action has been fast and furious in August, halting the summer rally in the past week. We are seeing a resurgence of the theme that was present earlier in the year, with defensive sectors outperforming while technology and growth lead the downside. Bond yields have shut back up, while energy names are holding up well after retreating earlier in the summer.

We’re also heading into a terrible month of September, which has been the worst month since 1928 in mid-years (down -1.14% on average). And as we can see below, the third quarter is historically the weakest time. Years, dating back to the 1950s averaged a modest 0.7%. Adverse seasonality combined with an overall unstable mid-year can cause problems in the following weeks and months.

That’s why it’s important to be extremely selective with individual stock purchases, targeting only the strongest stocks that are in the strongest uptrends. Identifying key stocks can help us weather volatility and include names with the best profit potential. Let’s take a look at the highly rated stocks that are defying the odds and making new 52-week highs in this treacherous market environment.

A Zacks Rank #1 (Strong Buy) stock

World Wrestling Entertainment is an integrated media and entertainment company. WWE is involved in the production and monetization of video content across a variety of platforms, including the WWE Network, broadcast and pay television, and digital and social media. Live events generate revenue through ticket sales and travel packages. World Wrestling Entertainment is also involved in the merchandising of branded products such as video games, toys, clothing and books.

WWE has exceeded earnings estimates in each of the last four quarters. The global media giant last week announced Q2 EPS of $0.59/share, missing the $0.56 consensus estimate by 5.36%. WWE delivered a back-to-back four-quarter average earnings surprise of 30.93% for shares, up 45% from last year.

Analysts are agreeing on earnings revisions and raising estimates across the board. The full year EPS estimate has increased by 4.18% over the past 60 days. The Zacks Consensus Estimate now stands at $2.49/share, reflecting a potential upside of 17.45% over last year. Sales are expected to climb 18.61% to $1.3 billion.

The process of identifying leading stocks can help investors navigate this market. Make sure to keep an eye on WWE as we head into a historically weak third quarter.

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Past performance is no guarantee of future results. Any investment has the potential for inherent loss. This material is provided for informational purposes only and does not constitute investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold securities. No recommendation or advice is given as to whether any investment is suitable for any particular investor. Do not assume that any investments in the securities, companies, sectors or markets identified and described have been or will be profitable. All information is current as of the date hereof and is subject to change without notice. Any views or opinions expressed may not necessarily reflect those of the firm as a whole. Zacks Investment Research does not engage in the investment banking, market making or asset management activities of any securities. These returns are hypothetical portfolios consisting of stocks with a Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. For information about the performance numbers displayed in this press release, visit https://www.zacks.com/performance.

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