Warner Music Group (WMG) to report results on Monday
Warner Music Group (NASDAQ: WMG) is set to report its results before the market opens on Monday, November 15. Analysts expect the company to report earnings of $ 0.17 per share for the quarter. Those interested in registering for the business results conference call can do so by using this link.
The NASDAQ WMG opened at $ 48.19 on Monday. Warner Music Group has a 52-week low of $ 26.57 and a 52-week high of $ 50.23. The company has a 50-day moving average price of $ 44.09 and a 200-day moving average price of $ 38.88. The company has a quick ratio of 0.57, a current ratio of 0.60, and a debt ratio of 35.44. The company has a market cap of $ 24.79 billion, a PE ratio of 92.67 and a beta of 0.86.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 1. Shareholders of record on Wednesday August 25 received a dividend of $ 0.15. This represents an annualized dividend of $ 0.60 and a return of 1.25%. This is an increase from Warner Music Group’s previous quarterly dividend of $ 0.12. The ex-dividend date was Tuesday, August 24. Warner Music Group’s dividend payout ratio (DPR) is -92.31%.
WMG has been the subject of several analyst reports. Zacks investment research downgraded Warner Music Group from a âbuyâ rating to a âconservationâ rating in a report released on Saturday, October 16. Credit Suisse Group Upgraded Warner Music Group from “Neutral” to “Outperforming” Rating and Raised Its Share Price Target from $ 37.00 to $ 48.00 in a Tuesday Research Note September 21. Truist raised its price target on Warner Music Group shares from $ 42.00 to $ 51.00 and gave the company a “buy” rating in a research report released on Tuesday, October 12. Barclays upgraded Warner Music Group shares from a ‘par weight’ to an ‘overweight’ rating and raised its target price for the share from $ 38.00 to $ 48.00 in a research note on Thursday 23 September. Finally, Tigress Financial raised its price target for Warner Music Group shares from $ 42.00 to $ 48.00 and gave the company a “buy” rating in a research note on Tuesday, August 17. An equity research analyst rated the stock with a sell rating, three assigned a conservation rating, and seven assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of âBuyâ and an average price target of $ 48.67.
In related news, CEO Max Lousada sold 510,165 shares of Warner Music Group in a transaction that took place on Wednesday, September 29. The stock was sold at an average price of $ 41.05, for a total trade of $ 20,942,273.25. The sale was disclosed in a file with the SEC, which can be accessed via this hyperlink. In addition, main shareholder Ai Entertainment Holdings Llc sold 2,330,259 shares of the company in a transaction dated Friday, September 24. The shares were sold at an average price of $ 43.73, for a total transaction of $ 101,902,226.07. Disclosure of this sale can be found here. Insiders sold 5,974,331 shares of the company valued at $ 241,149,489 in the past three months. 80.51% of the shares are currently held by insiders.
A hedge fund recently increased its stake in shares of Warner Music Group. Morgan Stanley increased its stake in Warner Music Group Corp. (NASDAQ: WMG) 78.0% in the 2nd quarter, according to the company in its latest Form 13F filed with the Securities & Exchange Commission. The institutional investor held 1,189,242 shares of the company after acquiring an additional 521,151 shares during the period. Morgan Stanley owned approximately 0.23% of Warner Music Group for a value of $ 42,860,000 when it was last filed with the Securities & Exchange Commission. 16.91% of the shares are currently held by institutional investors.
About Warner Music Group
Warner Music Group Corp. operates as a music entertainment company in the US, UK 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 these artists.
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