Shares of Warner Music Group Corp. (NASDAQ:WMG – Get Free Report) have earned a consensus rating of “Moderate Buy” from the twenty research firms that are presently covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $37.3750.
A number of equities research analysts have commented on WMG shares. Weiss Ratings restated a “hold (c)” rating on shares of Warner Music Group in a research report on Friday, March 27th. Scotiabank upgraded Warner Music Group from a “sector perform” rating to a “sector outperform” rating in a research report on Friday, February 13th. Evercore restated an “outperform” rating and set a $43.00 price objective on shares of Warner Music Group in a research report on Friday, May 8th. UBS Group raised their price objective on Warner Music Group from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Finally, Zacks Research upgraded Warner Music Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 11th.
View Our Latest Stock Report on Warner Music Group
Warner Music Group Price Performance
Warner Music Group (NASDAQ:WMG – Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.14. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.61 billion. Warner Music Group had a return on equity of 62.01% and a net margin of 6.34%.Warner Music Group’s revenue was up 16.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.07 earnings per share. As a group, sell-side analysts predict that Warner Music Group will post 1.52 earnings per share for the current fiscal year.
Warner Music Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 26th will be given a dividend of $0.19 per share. The ex-dividend date is Tuesday, May 26th. This represents a $0.76 dividend on an annualized basis and a yield of 2.2%. Warner Music Group’s dividend payout ratio (DPR) is presently 89.41%.
Institutional Investors Weigh In On Warner Music Group
A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Warner Music Group by 12.2% during the 3rd quarter. Vanguard Group Inc. now owns 16,914,577 shares of the company’s stock worth $576,110,000 after acquiring an additional 1,837,801 shares during the period. JPMorgan Chase & Co. boosted its position in Warner Music Group by 15.2% during the 4th quarter. JPMorgan Chase & Co. now owns 16,645,276 shares of the company’s stock worth $510,511,000 after acquiring an additional 2,200,362 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Warner Music Group by 4.2% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 8,914,756 shares of the company’s stock valued at $303,637,000 after buying an additional 363,092 shares during the last quarter. FIL Ltd lifted its holdings in shares of Warner Music Group by 0.8% during the 4th quarter. FIL Ltd now owns 5,880,751 shares of the company’s stock valued at $180,363,000 after buying an additional 47,760 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Warner Music Group by 22.0% during the 4th quarter. Millennium Management LLC now owns 3,885,483 shares of the company’s stock valued at $119,168,000 after buying an additional 701,829 shares during the last quarter. 96.88% of the stock is currently owned by institutional investors and hedge funds.
About Warner Music Group
Warner Music Group is a major global music company that operates across recorded music and music publishing. Its recorded-music business comprises a portfolio of well-known labels—including Atlantic, Warner Records and Parlophone—as well as distribution and artist-services operations that support both established and emerging artists. The company’s publishing arm, Warner Chappell Music, manages songwriting catalogs and administers rights for compositions across multiple media, providing licensing for film, television, advertising and other commercial uses.
WMG’s activities span the full music value chain: signing and developing artists, producing and marketing recordings, distributing music through physical channels and streaming platforms, and monetizing rights through licensing, synchronization and neighboring-rights collection.
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