Shares of Warner Music Group Corp. (NASDAQ:WMG – Get Free Report) have received an average rating of “Moderate Buy” from the nineteen analysts that are currently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $37.8667.
WMG has been the topic of several research reports. JPMorgan Chase & Co. increased their price objective on shares of Warner Music Group from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Evercore restated an “outperform” rating and issued a $43.00 target price on shares of Warner Music Group in a research note on Friday, May 8th. Zacks Research lowered Warner Music Group from a “strong-buy” rating to a “hold” rating in a report on Monday, June 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Warner Music Group in a research report on Wednesday, June 24th. Finally, Wall Street Zen raised Warner Music Group from a “hold” rating to a “buy” rating in a report on Monday, June 29th.
Get Our Latest Research Report on Warner Music Group
Warner Music Group Price Performance
Warner Music Group (NASDAQ:WMG – Get Free Report) last posted its quarterly 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. Warner Music Group had a net margin of 6.34% and a return on equity of 62.01%. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same period last year, the firm posted $0.07 EPS. The company’s revenue for the quarter was up 16.7% on a year-over-year basis. Research analysts predict that Warner Music Group will post 1.52 EPS for the current year.
Warner Music Group Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 26th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Tuesday, May 26th. Warner Music Group’s dividend payout ratio is presently 89.41%.
Institutional Investors Weigh In On Warner Music Group
A number of hedge funds have recently added to or reduced their stakes in WMG. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Warner Music Group by 774.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 1,207 shares of the company’s stock valued at $41,000 after acquiring an additional 1,069 shares during the period. Quarry LP acquired a new stake in shares of Warner Music Group in the 4th quarter worth about $40,000. Osaic Holdings Inc. increased its holdings in shares of Warner Music Group by 480.9% in the 2nd quarter. Osaic Holdings Inc. now owns 1,493 shares of the company’s stock worth $41,000 after acquiring an additional 1,236 shares during the period. Parallel Advisors LLC lifted its position in Warner Music Group by 355.7% in the 4th quarter. Parallel Advisors LLC now owns 1,531 shares of the company’s stock valued at $47,000 after purchasing an additional 1,195 shares during the last quarter. Finally, US Bancorp DE lifted its position in Warner Music Group by 23.5% in the 3rd quarter. US Bancorp DE now owns 1,729 shares of the company’s stock valued at $59,000 after purchasing an additional 329 shares during the last quarter. 96.88% of the stock is currently owned by institutional investors.
Warner Music Group Company Profile
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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