Warner Music Group (WMG) is expected to release quarterly results on Tuesday
Warner Music Group (NASDAQ:WMG – Get Rating) is expected to release quarterly earnings data before market open on Tuesday, August 9. Analysts expect the company to report earnings of $0.19 per share for the quarter. Those interested in participating in the company’s earnings conference call can do so using this link.
Warner Music Group (NASDAQ:WMG – Get Rating) last released quarterly earnings data on Tuesday, May 10. The company reported earnings per share of $0.18 for the quarter, missing the consensus estimate of $0.21 per ($0.03). Warner Music Group had a net margin of 6.45% and a return on equity of 362.14%. The company posted revenue of $1.38 billion in the quarter, compared with $1.37 billion for analysts. In the same period a year earlier, the company had earned earnings per share of $0.22. The company’s revenue for the quarter increased 10.1% year over year. On average, analysts expect Warner Music Group to post EPS of $1 for the current fiscal year and EPS of $1 for the next fiscal year.
Warner Music Group stock performance
The NASDAQ WMG opened at $31.14 on Tuesday. Warner Music Group has a 1-year low of $23.74 and a 1-year high of $50.23. The company has a market capitalization of $16.03 billion, a P/E ratio of 43.86, a PEG ratio of 1.22 and a beta of 1.56. The company has a 50-day moving average price of $27.00 and a 200-day moving average price of $32.32. The company has a debt ratio of 22.13, a current ratio of 0.61 and a quick ratio of 0.58.
Warner Music Group announces dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 1. Investors of record on Monday, May 23 received a dividend of $0.15. This represents an annualized dividend of $0.60 and a yield of 1.93%. The ex-dividend date was Friday, May 20. Warner Music Group’s payout ratio is currently 84.51%.
A Wall Street analyst gives his opinion
WMG has been the subject of several analyst reports. Redburn Partners reiterated a “sell” rating on Warner Music Group shares in a Monday, April 25 report. Guggenheim raised its target price on Warner Music Group from $30.00 to $34.00 and gave the company a “buy” rating in a Friday, June 3 report. JPMorgan Chase & Co. lowered its price target on Warner Music Group from $40.00 to $34.00 and set an “overweight” rating on the stock in a Wednesday, July 13 report. TheStreet upgraded Warner Music Group from a “c-” to a “d+” rating in a Thursday, July 14 report. Finally, Truist Financial lowered its price target on Warner Music Group from $40.00 to $35.00 and set a “buy” rating on the stock in a Tuesday, July 19 report. Two investment analysts have assigned a sell rating to the stock, two have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $40.38.
Institutional entries and exits
Several hedge funds have recently increased or reduced their holdings in the stock. Bank of America Corp DE increased its stake in Warner Music Group by 3.7% in the first quarter. Bank of America Corp DE now owns 120,622 shares of the company valued at $4,566,000 after buying an additional 4,253 shares in the last quarter. Eaton Vance Management bought a new stake in Warner Music Group in the first quarter worth approximately $1,173,000. Bridgewater Associates LP bought a new stake in Warner Music Group in the first quarter worth approximately $1,089,000. USS Investment Management Ltd bought a new stake in Warner Music Group in the first quarter, valued at around $943,000. Finally, Vident Investment Advisory LLC increased its stake in Warner Music Group by 35.6% in the first quarter. Vident Investment Advisory LLC now owns 15,621 shares of the company valued at $591,000 after purchasing an additional 4,099 shares in the last quarter. 22.29% of the shares are held by hedge funds and other institutional investors.
About Warner Music Group
(Get a rating)
Warner Music Group Corp. operates as a music entertainment company in the United States, United Kingdom, Germany and internationally. The Company operates through the Recorded Music and Music Publishing segments. The Recorded Music segment is involved in the discovery and development of recording artists, as well as the related marketing, promotion, distribution, sale and licensing of music created by such recording artists; markets its music catalog through compilations and reissues of previously released music and video titles, as well as unreleased content; and operates primarily through a collection of record labels, such as Warner Records and Atlantic Records, as well as Asylum, Big Beat, Canvasback, East West, Erato, FFRR, Fueled by Ramen, Nonesuch, Parlophone, Reprise, Roadrunner, Sire, Spinnin’ Records, Warner Classics and Warner Music Nashville.
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