WWE Stock Skyrockets After Hours

UPDATE, 06/26/2018 at 10:50 PM EST: WWE stock is now up +17.36% trading at $78.00 a share. 

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WWE stock has skyrocketed +5.15% in after-hours trading on official confirmation from the company regarding its deals with NBCUniversal and Fox.

WWE stock is currently trading at $71.75 and traded up as high as $72.50 after-hours.

Many analysts have been updating their coverage of the stock in recent weeks. I initiated coverage on the stock on May 25th with a 12-month price target of $65. Wells Fargo has a price target of $78. KeyBank Capital has a price target of $71. 

According to company officials, “substantial revenue growth” from the new deals has WWE updating its guidance, targeting adjusted OIBDA of at least $200M for 2019, which covers just three months of the new deal rates.

WWE will be holding a conference call tomorrow at 8 A.M. to discuss more long-term perspective on the deals.

All eyes will be on WWE’s next earnings report, currently scheduled for July 26th, 2018.

Where do you think WWE stock goes from here? Does anyone in the WrestleTalk family hold a position in the company? Let us know in the comments section below or on Twitter here. 

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