Warner Music Group (WMG) to Release Earnings on Thursday

Warner Music Group (NASDAQ:WMG - Get Free Report) is scheduled to 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 that wish to register for the company's conference call can do so using this link.

Warner Music Group Stock Up 0.6 %

Shares of NASDAQ WMG traded up $0.20 during mid-day trading on Thursday, reaching $33.25. The company had a trading volume of 312,415 shares, compared to its average volume of 1,795,973. 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 firm has a 50 day simple moving average of $31.15 and a two-hundred day simple moving average of $30.71. The stock has a market cap of $17.22 billion, a P/E ratio of 31.69, a PEG ratio of 1.06 and a beta of 1.37. Warner Music Group has a 52-week low of $27.06 and a 52-week high of $38.05.

Warner Music Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 19th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Tuesday, November 19th. Warner Music Group's payout ratio is currently 69.23%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Tigress Financial lowered their target price on shares of Warner Music Group from $52.00 to $44.00 and set a "buy" rating on the stock in a report on Thursday, September 12th. Bank of America restated an "underperform" rating and set a $30.00 target price (down previously from $33.00) on shares of Warner Music Group in a research report on Friday, October 4th. Macquarie decreased their price target on Warner Music Group from $32.00 to $30.00 and set a "neutral" rating on the stock in a research note on Friday, October 11th. Evercore ISI dropped their target price on shares of Warner Music Group from $40.00 to $36.00 and set an "outperform" rating for the company in a research report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Warner Music Group from $42.00 to $36.00 and set a "buy" rating on the stock in a research note on Tuesday, August 13th. Two equities 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 stock. Based on data from MarketBeat, Warner Music Group has an average rating of "Hold" and an average target price of $36.17.

Insider Transactions at Warner Music Group

In other Warner Music Group news, CEO Max Lousada sold 135,324 shares of the firm's stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $28.17, for a total transaction of $3,812,077.08. Following the completion of the sale, the chief executive officer now directly owns 2,725,964 shares in the company, valued at $76,790,405.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold a total of 628,205 shares of company stock worth $17,628,757 in the last three months. Insiders own 73.35% of the company's stock.

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.