Warner Music Group Corp. (NASDAQ:WMG) shares traded -2.35% lower at $25.39 on Wall Street last session.
In accordance with the data, 16 analysts cover Warner Music Group Corp. (NASDAQ:WMG). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $39.00 and a low of $28.00, we find $32.00. Given the previous closing price of $26.00, this indicates a potential upside of 23.08 percent. WMG stock price is now -14.91% away from the 50-day moving average and -16.03% away from the 200-day moving average. The market capitalization of the company currently stands at $13.33B.
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It has been rated a hold by 5 analysts and a buy by 9. Brokers who have rated the stock have averaged $32.87 as their price target over the next twelve months.
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In other news, Benet Lincoln E, Director sold 30,000 shares of the company’s stock on Feb 24. The stock was sold for $964,200 at an average price of $32.14. Upon completion of the transaction, the Director now directly owns 349,341 shares in the company, valued at $8.87 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 21, Director Benet Lincoln E sold 20,000 shares of the business’s stock. A total of $640,000 was realized by selling the stock at an average price of $32.00. This leaves the insider owning 379,341 shares of the company worth $9.63 million. Insiders disposed of 87,900 shares of company stock worth roughly $2.23 million over the past 1 year. A total of 0.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in WMG stock. A new stake in Warner Music Group Corp. shares was purchased by AMERIPRISE FINANCIAL INC during the first quarter worth $11,050,000. FERNBRIDGE CAPITAL MANAGEMENT LP invested $8,925,000 in shares of WMG during the first quarter. In the first quarter, HONEYCOMB ASSET MANAGEMENT LP acquired a new stake in Warner Music Group Corp. valued at approximately $6,144,000. WOODLINE PARTNERS LP acquired a new stake in WMG for approximately $5,880,000. FORCE HILL CAPITAL MANAGEMENT LP purchased a new stake in WMG valued at around $4,009,000 in the second quarter. In total, there are 307 active investors with 89.40% ownership of the company’s stock.
During the past 12 months, Warner Music Group Corp. has had a low of $21.57 and a high of $38.76. As of last week, the company has a debt-to-equity ratio of 15.82, a current ratio of 0.70, and a quick ratio of 0.70. The fifty day moving average price for WMG is $29.75 and a two-hundred day moving average price translates $30.20 for the stock.
The latest earnings results from Warner Music Group Corp. (NASDAQ: WMG) was released for Mar, 2023. According to the Entertainment Company, earnings per share came in at $0.06, missing analysts’ expectations of $0.18 by -0.12. This compares to $0.18 EPS in the same period last year. The net profit margin was 7.20% and return on equity was 202.90% for WMG. The company reported revenue of $1.4 billion for the quarter, compared to $1.38 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 1.67 percent. For the current quarter, analysts expect WMG to generate $1.47B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 06/01/2023. Investors who held shares on 05/23/2023 were paid a $0.16 dividend. On an annualized basis, this represents a $0.64 dividend and a 2.52% percent yield. There was an ex-dividend date of 05/22/2023 for this dividend. In terms of dividend payout ratio, WMG is presently at 77.10%.
Warner Music Group Corp.(WMG) 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. This segment markets, distributes, and sells music and video products to retailers and wholesale distributors; independent labels to retail and wholesale distributors; and various distribution centers and ventures, as well as retail outlets, online physical retailers, streaming services, and download services. The Music Publishing segment owns and acquires rights to approximately one million musical compositions comprising pop hits, American standards, folk songs, and motion picture and theatrical compositions. Its catalog includes approximately 100,000 songwriters and composers; and various genres, including pop, rock, jazz, classical, country, R&B, hip-hop, rap, reggae, Latin, folk, blues, symphonic, soul, Broadway, electronic, alternative, and gospel. This segment also administers the music and soundtracks of various third-party television and film producers and studios. The company was founded in 1929 and is headquartered in New York, New York.
