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

Warner Music Group (NASDAQ:WMG) released its earnings results on Thursday. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.07, Briefing.com reports. The business had revenue of $1.49 billion for 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 quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.06 earnings per share.

Warner Music Group Price Performance

Shares of WMG traded down $1.14 on Friday, reaching $31.43. The stock had a trading volume of 1,676,088 shares, compared to its average volume of 1,547,837. The company has a quick ratio of 0.67, a current ratio of 0.70 and a debt-to-equity ratio of 6.50. The firm has a market capitalization of $16.28 billion, a PE ratio of 35.60, a PEG ratio of 2.23 and a beta of 1.43. Warner Music Group has a twelve month low of $23.62 and a twelve month high of $38.05. The firm has a 50-day moving average of $33.58 and a 200 day moving average of $34.11.

Warner Music Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Thursday, February 22nd were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date was Wednesday, February 21st. Warner Music Group’s dividend payout ratio is currently 77.27%.

Analyst Upgrades and Downgrades

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