WWE: Weekly Stock Highlights #7, Week of Nov 12th – Nov 16th 2018
WWE stock traded down hard on Monday and Friday this week resulting in settling at $65.51, down from $69.57 last Friday. This represents a one-week decline of -5.84%.
Since I have started covering WWE stock on Daily DDT (about seven weeks), the stock is down -32.71% ($97.36). WWE’s 52-week low is $27.16. Thus, WWE still trades 141% above that benchmark.
WWE STOCK PERFORMANCE, WEEK OF 11/12 TO 11/16
| Day | Open | Close | Change |
| Monday | $69.59 | $67.40 | -3.12% |
| Tuesday | $67.35 | $67.18 | -0.33% |
| Wednesday | $67.82 | $67.58 | +0.59% |
| Thursday | $67.15 | $68.10 | +0.77% |
| Friday | $67.39 | $65.51 | -3.80% |
Highlights From The Week
WWE continued to lag the broader market, falling by 3.80% on Friday, a day the S&P 500 was up +0.23%. Concerns from an investment perspective were that WWE traded down on low volume this week, indicating that there were just not many buyers as the stock. This caused the stock to decline in an effort to look for them.
Kevin’s Take
Since WWE rushed from $30 to $90, there are not many buyers in this range which is why WWE stock may continue to fall in the weeks ahead. I continue to think the stock will hit the $50’s before it returns to the $70’s. For full disclosure, I may look for an entry point in the mid-40’s if it comes to that.
WWE is currently trading at 50x 2019 earnings estimates ($1.31 EPS) and 20x 2020 earnings estimates ($3.29 EPS) based on Friday’s closing price of $65.51.
Catch Up: Last 3 Weekly Highlights
Weekly Highlights #6, Week of 11/05 through 11/09
Weekly Highlights #5, Week of 10/29 through 11/02
Weekly Highlights #4, Week of 10/22 through 10/26
Selected Analyst Reports
Kevin Cavanagh via Seeking Alpha: $82 Price Target
KeyBanc: $104 Price Target (*High Price*)
Morgan Stanley: $100 Price Target
BTIG: $92 Price Target
Next. NXT TakeOver WarGames 2 Predictions. dark
Disclosure: I have no positions in WWE stock and no plans to initiate any positions within the next 72 hours. Investors should do their own due diligence before making any investment decisions.