Warner Music Group Corp. (NASDAQ:WMG - Get Free Report)'s stock price reached a new 52-week low during trading on Tuesday . The company traded as low as $25.87 and last traded at $25.97, with a volume of 835633 shares trading hands. The stock had previously closed at $26.32.
Analyst Ratings Changes
A number of equities research analysts recently commented on the stock. UBS Group decreased their target price on shares of Warner Music Group from $41.00 to $38.00 and set a "buy" rating for the company in a research report on Friday, May 9th. FBN Securities assumed coverage on shares of Warner Music Group in a research report on Friday, March 28th. They set a "sector perform" rating and a $35.00 target price for the company. Morgan Stanley decreased their target price on shares of Warner Music Group from $32.00 to $31.00 and set an "equal weight" rating for the company in a research report on Friday, May 9th. Guggenheim decreased their target price on shares of Warner Music Group from $40.00 to $37.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Finally, Sanford C. Bernstein assumed coverage on shares of Warner Music Group in a research report on Wednesday. They set an "outperform" rating and a $32.00 target price for the company. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Warner Music Group has an average rating of "Hold" and an average price target of $33.95.
Get Our Latest Research Report on WMG
Warner Music Group Trading Up 0.6%
The stock's fifty day simple moving average is $28.25 and its 200-day simple moving average is $30.87. The firm has a market cap of $13.75 billion, a PE ratio of 26.91, a PEG ratio of 1.03 and a beta of 1.25. The company has a debt-to-equity ratio of 5.67, a current ratio of 0.69 and a quick ratio of 0.67.
Warner Music Group (NASDAQ:WMG - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.21). Warner Music Group had a return on equity of 79.01% and a net margin of 8.07%. The business had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.52 billion. During the same period last year, the business earned $0.18 EPS. The company's revenue for the quarter was down .7% on a year-over-year basis. On average, sell-side analysts forecast that Warner Music Group Corp. will post 1.39 earnings per share for the current year.
Warner Music Group Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Tuesday, May 27th were issued a dividend of $0.18 per share. The ex-dividend date was Tuesday, May 27th. This represents a $0.72 annualized dividend and a dividend yield of 2.73%. Warner Music Group's dividend payout ratio (DPR) is presently 82.76%.
Insider Buying and Selling
In related news, EVP Timothy Matusch sold 1,000 shares of the firm's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $31.43, for a total transaction of $31,430.00. Following the completion of the transaction, the executive vice president now owns 87,649 shares of the company's stock, valued at $2,754,808.07. This trade represents a 1.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 72.21% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in Warner Music Group by 36.6% in the first quarter. JPMorgan Chase & Co. now owns 15,296,700 shares of the company's stock valued at $479,552,000 after buying an additional 4,097,688 shares in the last quarter. Vanguard Group Inc. increased its holdings in Warner Music Group by 10.1% in the first quarter. Vanguard Group Inc. now owns 14,379,667 shares of the company's stock valued at $450,803,000 after buying an additional 1,316,979 shares in the last quarter. Independent Franchise Partners LLP increased its holdings in Warner Music Group by 127.0% in the first quarter. Independent Franchise Partners LLP now owns 13,378,864 shares of the company's stock valued at $419,427,000 after buying an additional 7,483,839 shares in the last quarter. Capital World Investors increased its holdings in Warner Music Group by 0.6% in the fourth quarter. Capital World Investors now owns 13,371,100 shares of the company's stock valued at $414,504,000 after buying an additional 82,149 shares in the last quarter. Finally, Darlington Partners Capital Management LP increased its holdings in Warner Music Group by 16.9% in the fourth quarter. Darlington Partners Capital Management LP now owns 10,370,280 shares of the company's stock valued at $321,479,000 after buying an additional 1,500,000 shares in the last quarter. Hedge funds and other institutional investors own 96.88% of the company's stock.
About Warner Music Group
(
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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.
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