Warner Music Group Corp (WMG) concluded trading on Wednesday at a closing price of $29.91, with 6.53 million shares of worth about $195.22 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -17.90% during that period and on July 24, 2024 the price saw a loss of about -6.59%. Currently the company’s common shares owned by public are about 138.34M shares, out of which, 133.96M shares are available for trading.
Stock saw a price change of -5.65% in past 5 days and over the past one month there was a price change of -1.19%. Year-to-date (YTD), WMG shares are showing a performance of -16.43% which decreased to -2.00% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $29.07 but also hit the highest price of $38.05 during that period. The average intraday trading volume for Warner Music Group Corp shares is 2.37 million. The stock is currently trading -3.40% below its 20-day simple moving average (SMA20), while that difference is down -3.21% for SMA50 and it goes to -9.88% lower 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 24.72% of that.
The stock has a current market capitalization of $15.49B and its 3Y-monthly beta is at 1.38. PE ratio of stock for trailing 12 months is 29.59, while it has posted earnings per share of $1.01 in the same period. Its PEG reads 2.85 and has Quick Ratio of 0.67 while making debt-to-equity ratio of 9.85. 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 3.31% while standing at 2.45% over the month.
Stock’s fiscal year EPS is expected to rise by 46.60% while it is estimated to increase by 22.34% in next year. EPS is likely to grow at an annualized rate of 10.40% 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 Wolfe Research on July 12, 2024 offering an Outperform rating for the stock and assigned a target price of $37 to it. Coverage by Jefferies stated Warner Music Group Corp (WMG) stock as a Buy in their note to investors on July 11, 2024, suggesting a price target of $38 for the stock. On July 10, 2024, Redburn Atlantic Downgrade their recommendations, while on May 06, 2024, Morgan Stanley Resumed their ratings for the stock with a price target of $43. Stock get a Neutral rating from Redburn Atlantic on February 05, 2024.
