Warner Music Group (WMG) to Release Quarterly Earnings on Thursday

Warner Music Group (NASDAQ:WMG) will announce its earnings results before the market opens on Thursday, November 21st. Analysts expect the company to announce earnings of $0.28 per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Warner Music Group Price Performance

Shares of Warner Music Group stock opened at $33.05 on Thursday. The business’s fifty day moving average price is $31.05 and its 200 day moving average price is $30.69. The company has a current ratio of 0.69, a quick ratio of 0.67 and a debt-to-equity ratio of 6.26. Warner Music Group has a twelve month low of $27.06 and a twelve month high of $38.05. The stock has a market capitalization of $17.12 billion, a P/E ratio of 31.59, a PEG ratio of 1.06 and a beta of 1.37.

Warner Music Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 19th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Tuesday, November 19th. Warner Music Group’s dividend payout ratio (DPR) is presently 69.23%.

Insider Transactions at Warner Music Group

In other news, CEO Max Lousada sold 135,324 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $28.17, for a total transaction of $3,812,077.08. Following the completion of the transaction, the chief executive officer now directly owns 2,725,964 shares in the company, valued at approximately $76,790,405.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders sold 628,205 shares of company stock worth $17,628,757. Company insiders own 73.35% of the company’s stock.

Wall Street Analyst Weigh In

WMG has been the topic of a number of analyst reports. Evercore ISI dropped their target price on Warner Music Group from $40.00 to $36.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Tigress Financial dropped their target price on Warner Music Group from $52.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Deutsche Bank Aktiengesellschaft dropped their target price on Warner Music Group from $42.00 to $36.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Bank of America reiterated an “underperform” rating and issued a $30.00 price target (down from $33.00) on shares of Warner Music Group in a research note on Friday, October 4th. Finally, Wells Fargo & Company decreased their price target on Warner Music Group from $37.00 to $34.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Warner Music Group has an average rating of “Hold” and a consensus target price of $36.17.

About Warner Music Group

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.