Warner Music Group (WMG) Set to Announce Quarterly Earnings on Thursday

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

Warner Music Group Stock Performance

Warner Music Group stock opened at $32.93 on Wednesday. Warner Music Group has a fifty-two week low of $27.06 and a fifty-two week high of $38.05. The stock has a market cap of $17.06 billion, a price-to-earnings ratio of 31.66, a PEG ratio of 1.06 and a beta of 1.37. The company has a debt-to-equity ratio of 6.26, a quick ratio of 0.67 and a current ratio of 0.69. The stock’s 50 day simple moving average is $31.57 and its two-hundred day simple moving average is $30.68.

Warner Music Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 19th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $0.72 dividend on an annualized basis and a yield of 2.19%. Warner Music Group’s dividend payout ratio is currently 69.23%.

Insider Activity at Warner Music Group

In other Warner Music Group news, CEO Max Lousada sold 64,047 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $28.25, for a total transaction of $1,809,327.75. Following the completion of the sale, the chief executive officer now owns 2,909,422 shares of the company’s stock, valued at $82,191,171.50. This represents a 2.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 628,205 shares of company stock worth $17,628,757 in the last ninety days. 73.35% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on WMG shares. Tigress Financial decreased their price objective 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. Macquarie decreased their price objective on shares of Warner Music Group from $32.00 to $30.00 and set a “neutral” rating for the company in a research note on Friday, October 11th. Wells Fargo & Company cut their price objective on Warner Music Group from $37.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Bank of America reiterated an “underperform” rating and set a $30.00 target price (down from $33.00) on shares of Warner Music Group in a research report on Friday, October 4th. Finally, Evercore ISI lowered their price objective on shares of Warner Music Group from $40.00 to $36.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $36.17.

Warner Music Group 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.