Brokers Set Expectations for Warner Music Group Corp.’s Q4 2022 Earnings (NASDAQ:WMG)

Warner Music Group Corp. (NASDAQ:WMGGet Rating) – Equities researchers at Jefferies Financial Group reduced their Q4 2022 earnings per share (EPS) estimates for shares of Warner Music Group in a research note issued on Tuesday, April 12th. Jefferies Financial Group analyst A. Uerkwitz now forecasts that the company will post earnings per share of $0.17 for the quarter, down from their previous estimate of $0.18. Jefferies Financial Group has a “Buy” rating and a $50.00 price target on the stock. Jefferies Financial Group also issued estimates for Warner Music Group’s FY2023 earnings at $1.16 EPS.

Other research analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft began coverage on Warner Music Group in a research report on Friday, March 11th. They set a “buy” rating and a $42.00 price objective on the stock. Tigress Financial lifted their price objective on Warner Music Group from $48.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, December 22nd. Credit Suisse Group lowered their price objective on Warner Music Group from $50.00 to $45.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 9th. Finally, Zacks Investment Research cut Warner Music Group from a “hold” rating to a “sell” rating in a research report on Thursday, February 10th. Two analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $48.42.

Warner Music Group stock opened at $37.31 on Wednesday. Warner Music Group has a 52-week low of $29.34 and a 52-week high of $50.23. The company has a quick ratio of 0.58, a current ratio of 0.60 and a debt-to-equity ratio of 22.36. The company has a market cap of $19.21 billion, a P/E ratio of 49.75, a P/E/G ratio of 1.16 and a beta of 1.07. The business has a 50-day simple moving average of $36.50 and a two-hundred day simple moving average of $41.17.

Warner Music Group (NASDAQ:WMGGet Rating) last released its quarterly earnings data on Tuesday, February 8th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.29 by $0.14. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.49 billion. Warner Music Group had a return on equity of 481.86% and a net margin of 7.04%. Warner Music Group’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same period last year, the company earned $0.20 EPS.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 1st. Shareholders of record on Friday, February 18th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.61%. The ex-dividend date was Thursday, February 17th. Warner Music Group’s payout ratio is 80.00%.

In other Warner Music Group news, Director Lincoln E. Benet sold 10,000 shares of Warner Music Group stock in a transaction dated Wednesday, March 2nd. The shares were sold at an average price of $35.80, for a total transaction of $358,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lincoln E. Benet sold 20,000 shares of Warner Music Group stock in a transaction dated Monday, February 28th. The shares were sold at an average price of $35.64, for a total transaction of $712,800.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 60,000 shares of company stock worth $2,165,000. Insiders own 76.57% of the company’s stock.

Several large investors have recently modified their holdings of the company. Eagle Bay Advisors LLC grew its stake in shares of Warner Music Group by 100.0% during the 3rd quarter. Eagle Bay Advisors LLC now owns 600 shares of the company’s stock worth $26,000 after purchasing an additional 300 shares during the period. Westpac Banking Corp acquired a new position in shares of Warner Music Group during the 4th quarter valued at about $27,000. PNC Financial Services Group Inc. increased its stake in shares of Warner Music Group by 201.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 958 shares of the company’s stock valued at $41,000 after acquiring an additional 640 shares during the last quarter. Capital Square LLC acquired a new stake in Warner Music Group during the 3rd quarter worth approximately $229,000. Finally, JustInvest LLC acquired a new stake in Warner Music Group during the 4th quarter worth approximately $226,000. Institutional investors and hedge funds own 19.12% of the company’s stock.

About Warner Music Group (Get Rating)

Warner Music Group Corp. operates as a music entertainment company in the United States, the United Kingdom, Germany, 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 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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Earnings History and Estimates for Warner Music Group (NASDAQ:WMG)

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