Warner Music Group Corp (NASDAQ:WMG) shares, rose in value, with the stock price down by -0.06% to the previous day’s close as strong demand from buyers drove the stock to $33.33.
Actively observing the price movement in the last trading, the stock closed the session at $33.35. The PE ratio was 37.40 over 12-month period. Referring to stock’s 52-week performance, its high was $38.05, and the low was $23.62. On the whole, WMG has fluctuated by -5.58% over the past month.
The company’s Forward Dividend Ratio is 0.67, with its dividend yield at 2.01%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.24, which is expected to increase to $0.36 for fiscal year $1.15 and then to about $1.46 by fiscal year 2025. Data indicates that the EPS growth is expected to be 9.50% in 2025, while the next year’s EPS growth is forecast to be 27.00%.
Analysts have estimated the company’s revenue for the quarter at $1.48 billion, with a low estimate of $1.46 billion and a high estimate of $1.51 billion. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $6.51 billion, representing an increase of 7.80% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that WMG’s technical picture suggests that short-term indicators denote the stock is a Hold on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a Hold.
The stock’s technical analysis shows that the PEG ratio is about 3.84, with the price of WMG currently trading nearly 0.30% and -4.12% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 47.29, while the 7-day volatility ratio is showing 3.38% which for the 30-day chart, stands at 2.60%. Furthermore, Warner Music Group Corp (WMG)’s beta value is 1.44, and its average true range (ATR) is 0.91.
A comparison of Warner Music Group Corp (WMG) with its peers suggests the former has fared considerably weaker in the market. WMG showed an intraday change of -0.06% in last session, and over the past year, it grew by 0.57%%.
Data on historical trading for Warner Music Group Corp (NASDAQ:WMG) indicates that the trading volumes over the past 10 days have averaged 1.69 million and over the past 3 months, they’ve averaged 1.41 million. According to company’s latest data on outstanding shares, there are 138.34 million shares outstanding.
Nearly 74.29% of Warner Music Group Corp’s shares belong to company insiders and institutional investors own 24.31% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 3.66 million shares as on Mar 15, 2024, resulting in a short ratio of 2.55. According to the data, the short interest in Warner Music Group Corp (WMG) stood at 0.71% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 2.77 million. The stock has fallen by -6.87% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the WMG stock heading into the next quarter.
