Universal Music Group (UMGNF) Projected to Post Quarterly Earnings on Wednesday

Universal Music Group (OTCMKTS:UMGNF) is projected to announce its results after the market closes on Wednesday, April 29th. Analysts expect the company to announce earnings of $0.57 per share and revenue of $3.4310 billion for the quarter.

Universal Music Group Stock Performance

Shares of Universal Music Group stock opened at $23.59 on Wednesday. The company has a fifty day simple moving average of $21.46 and a 200-day simple moving average of $24.25. Universal Music Group has a 12-month low of $17.36 and a 12-month high of $33.77.

Analysts Set New Price Targets

Several research analysts have recently issued reports on UMGNF shares. Moffett Nathanson started coverage on shares of Universal Music Group in a report on Tuesday, January 27th. They issued a “buy” rating for the company. Morgan Stanley restated an “overweight” rating on shares of Universal Music Group in a report on Friday, January 9th. Guggenheim upgraded shares of Universal Music Group from a “neutral” rating to a “buy” rating in a report on Tuesday, March 31st. Finally, Wells Fargo & Company cut shares of Universal Music Group from an “overweight” rating to an “equal weight” rating in a report on Monday, April 6th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Universal Music Group has a consensus rating of “Moderate Buy”.

Universal Music Group Company Profile

Universal Music Group (OTCMKTS:UMGNF) is one of the world’s leading music entertainment companies, engaged in recorded music, music publishing, merchandising and brand partnerships. The company’s recorded music division encompasses a roster of major labels—such as Interscope Geffen A&M, Capitol Music Group, Republic Records, Island Records and Decca—and works with a diverse array of artists across genres ranging from pop and hip-hop to classical and jazz. Its music publishing arm, Universal Music Publishing Group, administers and exploits compositions by both established songwriters and emerging talent, providing licensing services for film, television, advertising and digital platforms.

Headquartered in Santa Monica, California, Universal Music Group operates on a truly global scale with regional offices in North America, Europe, Latin America, Asia-Pacific and Africa.