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World Wrestling Entertainment forecasts bigger-than-expected FY loss; shares fall

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Shares of World Wrestling Entertainment (NYSE: WWE) slumped more than 47 percent in early trade after the company forecast a bigger-than-expected loss for the full-year prompting brokerage Benchmark to cut its rating on the company's stock from Buy to Hold.

The full-year outlook of a loss ranging from $45 million to $52 million comes right after the compant struck a multi-year TV deal with NBCUniversal for the renewed U.S. licensing of WWE's programs ‘Raw' and ‘SmackDown.'

Analysts on average were expecting a loss of $17 million.

WWE shares fell as much as 47 percent to $10.55 on the New York Stock Exchange on Friday

Latest Ratings for WWE

DateFirmActionFromTo
Feb 2020DowngradesOverweightNeutral
Feb 2020DowngradesOverweightUnderweight
Feb 2020DowngradesOutperformPeer Perform

View More Analyst Ratings for WWE
View the Latest Analyst Ratings

Posted-In: Benchmark Raw SmackdownNews Downgrades Analyst Ratings

 

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