Zacks: Brokerages Anticipate Warner Music Group Corp. (NASDAQ:WMG) Will Post Quarterly Sales of $1.11 Billion

Wall Street brokerages expect Warner Music Group Corp. (NASDAQ:WMG) to post sales of $1.11 billion for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Warner Music Group’s earnings. The lowest sales estimate is $1.11 billion and the highest is $1.12 billion. The firm is expected to announce its next quarterly earnings results before the market opens on Monday, November 23rd.

On average, analysts expect that Warner Music Group will report full year sales of $4.45 billion for the current financial year, with estimates ranging from $4.44 billion to $4.46 billion. For the next fiscal year, analysts forecast that the company will post sales of $4.93 billion, with estimates ranging from $4.88 billion to $5.01 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Warner Music Group.

WMG has been the topic of several recent analyst reports. BidaskClub lowered shares of Warner Music Group from a “hold” rating to a “sell” rating in a research note on Thursday, November 5th. Morgan Stanley lifted their price objective on shares of Warner Music Group from $33.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Friday, November 13th.

Warner Music Group stock traded down $0.15 during midday trading on Monday, hitting $29.08. 1,352,681 shares of the stock were exchanged, compared to its average volume of 1,110,925. Warner Music Group has a 52 week low of $25.61 and a 52 week high of $34.76.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, November 24th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend is Monday, November 23rd.

Warner Music Group Company Profile

Warner Music Group Corp. operates as a music-based content company in the United States, the United Kingdom, and internationally. The company operates through Recorded Music and Music Publishing segments. The Recorded Music segment is involved in the discovery and development of recording artists, as well as the related marketing, promotion, distribution, sale, and licensing of recorded music created by such artists.

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