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Warner Music Group Corp. (WMG) – Don’t Be So Quick to Call it Dead

Warner Music Group Corp. (NASDAQ: WMG) is -27.50% lower on its value in year-to-date trading and has touched a low of $21.57 and a high of $38.76 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The WMG stock was last observed hovering at around $26.00 in the last trading session, with the day’s loss setting it -0.61% off its average median price target of $32.00 for the next 12 months. It is also 34.9% off the consensus price target high of $39.00 offered by 16 analysts, but current levels are 9.32% higher than the price target low of $28.00 for the same period.

Currently trading at $25.39, the stock is -7.29% and -14.91% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.31 million and changing -2.35% at the moment leaves the stock -16.03% off its SMA200. WMG registered -13.02% loss for a year compared to 6-month gain of -5.89%. The firm has a 50-day simple moving average (SMA 50) of $2.92 and a 200-day simple moving average (SMA200) of $16.25.

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The stock witnessed a -18.04% loss in the last 1 month and extending the period to 3 months gives it a -22.92%, and is -3.02% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.96% over the week and 4.19% over the month.

Warner Music Group Corp. (WMG) has around 6200 employees, a market worth around $13.33B and $5.82B in sales. Current P/E ratio is 31.04 and Fwd P/E is 22.59. Profit margin for the company is 7.20%. Distance from 52-week low is 17.71% and -34.49% from its 52-week high. The company has generated returns on investments over the last 12 months (13.60%).

Warner Music Group Corp. (WMG) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Warner Music Group Corp. (WMG) is a “Overweight”. 16 analysts offering their recommendations for the stock have an average rating of 2.40, where 5 rate it as a Hold and 1 think it is a “Overweight”. 9 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.

Warner Music Group Corp. is expected to release its quarterly report on 08/01/2023.The EPS is expected to grow by 80.90% this year

Warner Music Group Corp. (WMG) Top Institutional Holders

The shares outstanding are 515.91M, and float is at 114.33M with Short Float at 2.78%.

Warner Music Group Corp. (WMG) Insider Activity

A total of 23 insider transactions have happened at Warner Music Group Corp. (WMG) in the last six months, with sales accounting for 6 and purchases happening 17 times. The most recent transaction is an insider sale by Benet Lincoln E, the company’s Director. SEC filings show that Benet Lincoln E sold 30,000 shares of the company’s common stock on Feb 24 at a price of $32.14 per share for a total of $0.96 million. Following the sale, the insider now owns 0.35 million shares.

Warner Music Group Corp. disclosed in a document filed with the SEC on Feb 21 that Benet Lincoln E (Director) sold a total of 20,000 shares of the company’s common stock. The trade occurred on Feb 21 and was made at $32.00 per share for $0.64 million. Following the transaction, the insider now directly holds 0.38 million shares of the WMG stock.

Still, SEC filings show that on Nov 30, Benet Lincoln E (Director) disposed off 15,000 shares at an average price of $34.03 for $0.51 million. The insider now directly holds 399,341 shares of Warner Music Group Corp. (WMG).

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