Warner Music Group Corp. (NASDAQ:WMG) Announces $0.17 Quarterly Dividend

Warner Music Group Corp. (NASDAQ:WMG - Get Free Report) announced a quarterly dividend on Monday, May 13th, Zacks reports. Shareholders of record on Thursday, May 23rd will be paid a dividend of 0.17 per share on Monday, June 3rd. This represents a $0.68 annualized dividend and a yield of 2.11%. The ex-dividend date is Wednesday, May 22nd.

Warner Music Group has raised its dividend by an average of 40.1% per year over the last three years and has raised its dividend every year for the last 3 years.

Warner Music Group Trading Down 0.3 %

Shares of WMG stock traded down $0.09 on Tuesday, hitting $32.16. 2,686,960 shares of the stock traded hands, compared to its average volume of 1,585,458. The company has a debt-to-equity ratio of 6.81, a quick ratio of 0.67 and a current ratio of 0.69. Warner Music Group has a twelve month low of $23.62 and a twelve month high of $38.05. The firm's 50-day moving average price is $33.44 and its two-hundred day moving average price is $34.14. The stock has a market capitalization of $16.66 billion, a PE ratio of 32.52, a PEG ratio of 1.99 and a beta of 1.43.

Warner Music Group (NASDAQ:WMG - Get Free Report) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.11 by $0.07. The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.48 billion. Warner Music Group had a net margin of 8.28% and a return on equity of 120.42%. The business's revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.06 EPS. As a group, analysts anticipate that Warner Music Group will post 0.99 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on WMG shares. Redburn Atlantic upgraded Warner Music Group from a "sell" rating to a "neutral" rating and raised their target price for the company from $17.00 to $21.00 in a report on Monday, February 5th. Loop Capital raised their price objective on shares of Warner Music Group from $36.00 to $38.00 and gave the company a "hold" rating in a research note on Thursday, April 18th. Morgan Stanley initiated coverage on shares of Warner Music Group in a research note on Monday, May 6th. They set an "overweight" rating and a $43.00 target price on the stock. Finally, Guggenheim decreased their price target on shares of Warner Music Group from $46.00 to $45.00 and set a "buy" rating for the company in a research report on Friday, April 5th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, Warner Music Group currently has a consensus rating of "Moderate Buy" and an average target price of $37.18.

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.