Universal Music Group (UMGNF) Expected to Announce Quarterly Earnings on Thursday

Universal Music Group (OTCMKTS:UMGNF) is projected to issue its resultson Thursday, July 30th. Analysts expect the company to announce earnings of $0.4774 per share and revenue of $3.7114 billion for the quarter.

Universal Music Group Trading Down 2.0%

Universal Music Group stock opened at $20.70 on Thursday. The business’s 50-day simple moving average is $21.66 and its 200 day simple moving average is $22.33. Universal Music Group has a 12-month low of $17.36 and a 12-month high of $33.77.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on UMGNF shares. Guggenheim upgraded shares of Universal Music Group from a “neutral” rating to a “buy” rating in a research report on Tuesday, March 31st. The Goldman Sachs Group began coverage on shares of Universal Music Group in a research report on Monday. They set a “hold” rating for the company. Zacks Research raised shares of Universal Music Group to a “hold” rating in a research note on Thursday, July 2nd. Finally, Wells Fargo & Company lowered shares of Universal Music Group from an “overweight” rating to an “equal weight” rating in a report on Monday, April 6th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Universal Music Group has an average 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.