Warner Music Group (NASDAQ:WMG – Get Free Report) announced its earnings results on Thursday. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.11, Zacks reports. Warner Music Group had a return on equity of 79.01% and a net margin of 8.07%.
Warner Music Group Stock Up 3.1 %
Shares of Warner Music Group stock traded up $0.97 on Friday, reaching $32.72. 2,451,774 shares of the company were exchanged, compared to its average volume of 1,884,132. The company has a market cap of $16.95 billion, a P/E ratio of 33.39, a price-to-earnings-growth ratio of 0.94 and a beta of 1.35. The company has a debt-to-equity ratio of 5.67, a current ratio of 0.69 and a quick ratio of 0.65. The stock’s 50 day moving average price is $31.20 and its 200-day moving average price is $30.78. Warner Music Group has a 1-year low of $27.06 and a 1-year high of $38.05.
Warner Music Group Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Tuesday, November 19th were issued a $0.18 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $0.72 dividend on an annualized basis and a yield of 2.20%. Warner Music Group’s dividend payout ratio (DPR) is presently 73.47%.
Insider Transactions at Warner Music Group
Analyst Ratings Changes
Several research firms have weighed in on WMG. Barclays dropped their target price on shares of Warner Music Group from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. JPMorgan Chase & Co. lowered their price target on Warner Music Group from $41.00 to $40.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Citigroup upped their target price on Warner Music Group from $31.00 to $34.00 and gave the company a “neutral” rating in a research report on Friday, November 29th. Morgan Stanley cut their price target on Warner Music Group from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Finally, Loop Capital reduced their target price on Warner Music Group from $38.00 to $35.00 and set a “hold” rating for the company in a report on Monday, November 25th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Warner Music Group currently has a consensus rating of “Hold” and an average target price of $35.31.
Read Our Latest Stock Analysis on WMG
Warner Music Group Company Profile
Warner Music Group Corp. operates as a music entertainment company in the United States, the United Kingdom, Germany, and internationally. It operates through Recorded Music and Music Publishing segments. The Recorded Music segment is involved in the discovery and development of recording artists, as well as related marketing, promotion, distribution, sale, and licensing of music created by such recording artists; markets its music catalog through compilations and reissuances of previously released music and video titles, as well as previously unreleased materials; and conducts its operation 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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