In the latest trading session, World Wrestling Entertainment (WWE) closed at $68.79, marking a +0.87% move from the previous day. This change lagged the S&P 500's 1.97% gain on the day. Elsewhere, the Dow gained 1.88%, while the tech-heavy Nasdaq added 0.25%.

Heading into today, shares of the producer of professional wrestling events and television shows had gained 1.56% over the past month, outpacing the Consumer Discretionary sector's loss of 12.81% and the S&P 500's loss of 9.93% in that time.

Wall Street will be looking for positivity from World Wrestling Entertainment as it approaches its next earnings report date. In that report, analysts expect World Wrestling Entertainment to post earnings of $0.48 per share. This would mark a year-over-year decline of 7.69%. Our most recent consensus estimate is calling for quarterly revenue of $285.73 million, up 11.7% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $2.49 per share and revenue of $1.3 billion, which would represent changes of +17.45% and +18.61%, respectively, from the prior year.

It is also important to note the recent changes to analyst estimates for World Wrestling Entertainment. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. World Wrestling Entertainment is currently sporting a Zacks Rank of #1 (Strong Buy).

Digging into valuation, World Wrestling Entertainment currently has a Forward P/E ratio of 27.44. This valuation marks a premium compared to its industry's average Forward P/E of 26.19.

The Film and Television Production and Distribution industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 95, which puts it in the top 38% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

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