Warner Music Group (NASDAQ:WMG) Posts Earnings Results, Beats Expectations By $0.07 EPS

Warner Music Group (NASDAQ:WMG) announced its quarterly earnings data on Thursday. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.07, Briefing.com reports. The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.48 billion. Warner Music Group had a return on equity of 128.86% and a net margin of 7.42%. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.06 earnings per share.

Warner Music Group Stock Performance

WMG traded down $1.24 during trading hours on Friday, hitting $31.33. The company’s stock had a trading volume of 1,411,216 shares, compared to its average volume of 1,545,328. Warner Music Group has a fifty-two week low of $23.62 and a fifty-two week high of $38.05. The company has a current ratio of 0.70, a quick ratio of 0.67 and a debt-to-equity ratio of 6.50. The firm has a market capitalization of $16.23 billion, a PE ratio of 35.38, a PEG ratio of 2.23 and a beta of 1.43. The company has a 50-day simple moving average of $33.58 and a 200 day simple moving average of $34.11.

Warner Music Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Thursday, February 22nd were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend was Wednesday, February 21st. Warner Music Group’s payout ratio is 77.27%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on WMG shares. Loop Capital lifted their target price on Warner Music Group from $36.00 to $38.00 and gave the company a “hold” rating in a report on Thursday, April 18th. Guggenheim reduced their target price on Warner Music Group from $46.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Morgan Stanley started coverage on Warner Music Group in a report on Monday. They issued an “overweight” rating and a $43.00 target price on the stock. Finally, Redburn Atlantic upgraded Warner Music Group from a “sell” rating to a “neutral” rating and lifted their target price for the company from $17.00 to $21.00 in a report on Monday, February 5th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $37.18.

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.