Brokerages Expect Warner Music Group Corp. (NASDAQ:WMG) to Post $0.16 EPS

Thursday, April 8, 2021 | MarketBeat

Analysts predict that Warner Music Group Corp. (NASDAQ:WMG) will post $0.16 earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have made estimates for Warner Music Group's earnings. The lowest EPS estimate is $0.14 and the highest is $0.21. The company is expected to issue its next quarterly earnings results before the market opens on Monday, May 3rd.

According to Zacks, analysts expect that Warner Music Group will report full-year earnings of $0.69 per share for the current year, with EPS estimates ranging from $0.60 to $0.88. For the next financial year, analysts forecast that the business will post earnings of $1.06 per share, with EPS estimates ranging from $0.99 to $1.12. Zacks Investment Research's earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Warner Music Group.

Warner Music Group (NASDAQ:WMG) last announced its quarterly earnings data on Monday, February 1st. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.02. The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.27 billion.

A number of analysts have weighed in on the stock. Barclays boosted their target price on shares of Warner Music Group from $30.00 to $38.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 3rd. Credit Suisse Group cut shares of Warner Music Group from an "outperform" rating to a "neutral" rating and set a $37.00 target price on the stock. in a research note on Monday, January 11th. Bank of America raised shares of Warner Music Group from a "neutral" rating to a "buy" rating in a research note on Wednesday, February 3rd. Truist lifted their price target on shares of Warner Music Group from $35.00 to $40.00 in a report on Wednesday, January 6th. Finally, Morgan Stanley lifted their price target on shares of Warner Music Group from $40.00 to $42.00 and gave the stock an "overweight" rating in a report on Tuesday, February 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. Warner Music Group presently has a consensus rating of "Hold" and a consensus price target of $35.06.

In other news, major shareholder Ai Entertainment Holdings Llc sold 4,735,076 shares of the company's stock in a transaction dated Wednesday, February 10th. The shares were sold at an average price of $38.25, for a total transaction of $181,116,657.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Max Lousada sold 484,460 shares of the business's stock in a transaction dated Tuesday, March 16th. The stock was sold at an average price of $33.25, for a total transaction of $16,108,295.00. The disclosure for this sale can be found here.

Large investors have recently bought and sold shares of the company. Lazard Asset Management LLC increased its position in shares of Warner Music Group by 1.5% during the fourth quarter. Lazard Asset Management LLC now owns 697,263 shares of the company's stock worth $26,489,000 after acquiring an additional 10,019 shares in the last quarter. Tarsadia Capital LLC grew its position in Warner Music Group by 732.8% in the 4th quarter. Tarsadia Capital LLC now owns 553,000 shares of the company's stock worth $21,008,000 after purchasing an additional 486,598 shares in the last quarter. Quantitative Systematic Strategies LLC bought a new stake in Warner Music Group in the 4th quarter worth about $1,865,000. SG Americas Securities LLC grew its position in Warner Music Group by 759.7% in the 4th quarter. SG Americas Securities LLC now owns 62,000 shares of the company's stock worth $2,355,000 after purchasing an additional 54,788 shares in the last quarter. Finally, New York State Common Retirement Fund bought a new stake in Warner Music Group in the 4th quarter worth about $3,250,000. 15.18% of the stock is owned by institutional investors.

NASDAQ WMG opened at $36.42 on Thursday. The firm's fifty day moving average price is $34.57 and its two-hundred day moving average price is $34.12. Warner Music Group has a fifty-two week low of $25.61 and a fifty-two week high of $39.61.

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 1st. Stockholders of record on Monday, February 22nd were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, February 19th. This represents a $0.48 annualized dividend and a dividend yield of 1.32%.

Warner Music Group Company Profile

Warner Music Group Corp. operates as a music entertainment company in the United States, the United Kingdom, and internationally. The company 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 the related marketing, promotion, distribution, sale, and licensing of music created by such artists.

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