World Wrestling Entertainment (WWE) Q1 'Solid' - Needham & Company
Needham & Company analyst Laura Martin reiterated a Buy rating and $30 price target on World Wrestling Entertainment (NYSE: WWE) following 'solid' Q1 results.
Martin commented, "WWE reported solid 1Q14 results, with revenues of $126mm (slightly above our estimate of $125mm) and an EPS loss of $0.11 (much better than our estimate of a loss of $0.17). Management reiterated its confidence in garnering double or triple its US license fee rates, as well as OIBDA guidance for FY15 of $120-$190mm. We are especially bullish on the potential option value of global scalability. We expect WWE to be in more global markets within 12 months than Netflix is today. We recommend that investors think of WWE as a Netflix-substitute, but with no content cost risk."
The analyst trimmed FY 2014 EPS from ($0.15) to ($0.37) and FY 2015 EPS was maintained at $1.28.
Shares of World Wrestling Entertainment closed at $20.33 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Needham & Company Cuts Price Target on IPG Photonics (IPGP) After Meeting with Industry Players
- KeyBanc Upgrades Minerals Technologies (MTX) to Overweight
- Cowen Cuts Price Target on VMware (VMW) Following Dell's Announced Acquisition of EMC
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View
Related EntitiesNeedham & Company
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!