Warner Music Group Corp (WMG) Outlook Starting To Look Brighter?

Warner Music Group Corp (WMG) concluded trading on Wednesday at a closing price of $34.60, with 7.06 million shares of worth about $244.42 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 11.29% during that period and on April 3, 2024 the price saw a gain of about 5.78%. Currently the company’s common shares owned by public are about 138.34M shares, out of which, 133.14M shares are available for trading.

Stock saw a price change of 5.58% in past 5 days and over the past one month there was a price change of -2.32%. Year-to-date (YTD), WMG shares are showing a performance of -3.32% which increased to 3.69% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $23.62 but also hit the highest price of $38.05 during that period. The average intraday trading volume for Warner Music Group Corp shares is 1.31 million. The stock is currently trading 3.66% above its 20-day simple moving average (SMA20), while that difference is down -0.74% for SMA50 and it goes to 5.74% higher than SMA200.

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Warner Music Group Corp (NASDAQ: WMG) currently have 138.34M outstanding shares and institutions hold larger chunk of about 24.31% of that.

The stock has a current market capitalization of $17.92B and its 3Y-monthly beta is at 1.45. PE ratio of stock for trailing 12 months is 38.82, while it has posted earnings per share of $0.89 in the same period. Its PEG reads 3.98 and has Quick Ratio of 0.67 while making debt-to-equity ratio of 9.28. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for WMG, volatility over the week remained 2.55% while standing at 2.38% over the month.

Analysts are in expectations that Warner Music Group Corp (WMG) stock would likely to be making an EPS of $0.25 in the current quarter, while forecast for next quarter EPS is $0.3 and it is $1.46 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.19 which is $0.3 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.06 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 37.46% while it is estimated to increase by 29.71% in next year. EPS is likely to grow at an annualized rate of 9.75% for next 5-years, compared to annual growth of 6.43% made by the stock over the past 5-years.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Redburn Atlantic on February 05, 2024 offering a Neutral rating for the stock and assigned a target price range of between $17 and $21 to it. Coverage by Wells Fargo stated Warner Music Group Corp (WMG) stock as an Equal weight in their note to investors on November 15, 2023, suggesting a price target of $35 for the stock. On October 03, 2023, UBS Upgrade their recommendations, while on July 25, 2023, TD Cowen Initiated their ratings for the stock with a price target of $38. Stock get a Neutral rating from UBS on June 29, 2023.

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