At the time of writing, Warner Music Group Corp [WMG] stock is trading at $35.10, up 5.31%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The WMG shares have gain 6.11% over the last week, with a monthly amount glided 3.14%, and seem to be holding up well over a long-time horizon.
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On 2, April 2024, AYUSHMANN KHURRANA SIGNS GLOBAL DEAL WITH WARNER MUSIC INDIA. In a post published today on Yahoo Finance, Bollywood superstar Ayushmann Khurrana, an actor and recording artist known both for his blockbuster movies and chartbusting songs, has signed a global recording deal with Warner Music India, the country’s leading music label, in the next chapter of his artist career.
From an analyst’s perspective:
Warner Music Group Corp [NASDAQ: WMG] stock has seen the most recent analyst activity on February 05, 2024, when Redburn Atlantic upgraded its rating to a Neutral and also boosted its price target to $21 from $17. Previously, Wells Fargo started tracking the stock with Equal Weight rating on November 15, 2023, and set its price target to $35. On October 03, 2023, upgrade upgraded it’s rating to Buy and revised its price target to $37 on the stock. TD Cowen started tracking the stock assigning a Outperform rating and suggested a price target of $38 on July 25, 2023. UBS initiated its recommendation with a Neutral and recommended $29 as its price target on June 29, 2023. Atlantic Equities downgraded its rating to Neutral for this stock on June 02, 2023, and downed its price target to $26. In a note dated March 22, 2023, Guggenheim upgraded an Buy rating on this stock and boosted its target price from $35 to $36.
For the past year, the stock price of Warner Music Group Corp fluctuated between $23.62 and $38.05. Currently, Wall Street analysts expect the stock to reach $38.79 within the next 12 months. Warner Music Group Corp [NASDAQ: WMG] shares were valued at $35.10 at the most recent close of the market. An investor can expect a potential return of 10.51% based on the average WMG price forecast.
Analyzing the WMG fundamentals
According to Warner Music Group Corp [NASDAQ:WMG], the company’s sales were 6.30B for trailing twelve months, which represents an 17.47% jump. Gross Profit Margin for this corporation currently stands at 0.48% with Operating Profit Margin at 0.14%, Pretax Profit Margin comes in at 0.11%, and Net Profit Margin reading is 0.07%. To continue investigating profitability, this company’s Return on Assets is posted at 0.05, Equity is 1.43 and Total Capital is 0.17. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 9.28.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 34.08 points at the first support level, and at 33.05 for the second support level. However, for the 1st resistance point, the stock is sitting at 35.68, and for the 2nd resistance point, it is at 36.26.
Warner Music Group Corp [WMG] reported earnings per share of $0.33 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.43/share, meaning a difference of -$0.1 and a surprise factor of -23.30%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.34 per share as compared to estimates of $0.25 per share, a difference of $0.09 representing a surprise of 36.00%.
Ratios To Look Out For
It is important to note that Warner Music Group Corp [NASDAQ:WMG] has a current ratio of 0.70. Further, the Quick Ratio stands at 0.67, while the Cash Ratio is 0.2. Considering the valuation of this stock, the price to sales ratio is 2.89, the price to book ratio is 39.25 and price to earnings (TTM) ratio is 39.39.
Transactions by insiders
Recent insider trading involved Benet Lincoln E, Director, that happened on Feb 15 ’24 when 71981.0 shares were sold. CEO, Recorded Music, Lousada Max completed a deal on Dec 05 ’23 to sell 0.87 million shares.
