Universal Music Group (OTCMKTS:UMGNF – Get Free Report) is projected to post its resultson Thursday, July 30th. Analysts expect Universal Music Group to post earnings of $0.4774 per share and revenue of $3.7081 billion for the quarter.
Universal Music Group Trading Up 2.6%
Shares of OTCMKTS UMGNF opened at $21.98 on Wednesday. The firm’s 50-day simple moving average is $21.44 and its 200 day simple moving average is $22.20. Universal Music Group has a 12-month low of $17.36 and a 12-month high of $30.06.
Analyst Upgrades and Downgrades
UMGNF has been the subject of a number of research analyst reports. Guggenheim raised shares of Universal Music Group from a “neutral” rating to a “buy” rating in a research note on Tuesday, March 31st. Zacks Research raised shares of Universal Music Group to a “hold” rating in a report on Thursday, July 2nd. The Goldman Sachs Group started coverage on shares of Universal Music Group in a report on Monday, July 20th. They issued a “hold” rating for the company. Finally, Wells Fargo & Company downgraded Universal Music Group from an “overweight” rating to an “equal weight” rating in a report on Monday, April 6th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Universal Music Group has an average rating of “Moderate Buy”.
About Universal Music Group
Universal Music Group (OTCMKTS:UMGNF) is one of the world’s leading music entertainment companies, engaged in recorded music, music publishing, merchandising and brand partnerships. The company’s recorded music division encompasses a roster of major labels—such as Interscope Geffen A&M, Capitol Music Group, Republic Records, Island Records and Decca—and works with a diverse array of artists across genres ranging from pop and hip-hop to classical and jazz. Its music publishing arm, Universal Music Publishing Group, administers and exploits compositions by both established songwriters and emerging talent, providing licensing services for film, television, advertising and digital platforms.
Headquartered in Santa Monica, California, Universal Music Group operates on a truly global scale with regional offices in North America, Europe, Latin America, Asia-Pacific and Africa.
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