Warner Music Group (WMG) to Release Earnings on Thursday

Warner Music Group (NASDAQ:WMG) will issue its quarterly earnings data before the market opens on Thursday, November 21st. Analysts expect the company to announce earnings of $0.28 per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

Warner Music Group Stock Up 1.3 %

Shares of NASDAQ:WMG opened at $33.34 on Tuesday. The company has a current ratio of 0.69, a quick ratio of 0.67 and a debt-to-equity ratio of 6.26. The stock has a fifty day simple moving average of $31.47 and a two-hundred day simple moving average of $30.69. Warner Music Group has a 12-month low of $27.06 and a 12-month high of $38.05. The stock has a market capitalization of $17.27 billion, a price-to-earnings ratio of 32.06, a PEG ratio of 1.06 and a beta of 1.37.

Warner Music Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Tuesday, November 19th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.16%. The ex-dividend date is Tuesday, November 19th. Warner Music Group’s dividend payout ratio is presently 69.23%.

Insider Activity

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 sale, the chief executive officer now directly owns 2,909,422 shares in the company, 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 SEC, which is available at this link. In the last ninety days, insiders sold 628,205 shares of company stock worth $17,628,757. 73.35% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on WMG shares. Bank of America reaffirmed an “underperform” rating and issued a $30.00 target price (down from $33.00) on shares of Warner Music Group in a report on Friday, October 4th. Tigress Financial decreased their price objective on shares of Warner Music Group from $52.00 to $44.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Wells Fargo & Company reduced their target price on Warner Music Group from $37.00 to $34.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Evercore ISI lowered their price target on Warner Music Group from $40.00 to $36.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Warner Music Group from $42.00 to $36.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Two 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 company. According to MarketBeat.com, the company has an average rating of “Hold” and an average 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.