Warner Music Group Corp (NASDAQ: WMG) on Friday, soared 0.40% from the previous trading day, before settling in for the closing price of $32.28. Within the past 52 weeks, WMG’s price has moved between $27.06 and $38.05.
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A company in the Communication Services sector has jumped its sales by 8.04% annually for the last half of the decade. The company achieved an average annual earnings per share of 39.64%. With a float of $133.38 million, this company’s outstanding shares have now reached $138.34 million.
In an organization with 5900 employees, it is important to assess its efficiency. In terms of profitability, gross margin is 45.02%, operating margin of 16.45%, and the pretax margin is 11.94%.
Warner Music Group Corp (WMG) Insider Updates
Observing investor behavior towards Entertainment industry stocks is more important than anything else. The insider ownership of Warner Music Group Corp is 74.25%, while institutional ownership is 27.04%. The most recent insider transaction that took place on Sep 11 ’24, was worth 7,044,101. In this transaction CEO, Recorded Music of this company sold 250,769 shares at a rate of $28.09, taking the stock ownership to the 2,039,002 shares. Before that another transaction happened on Sep 10 ’24, when Company’s CEO, Recorded Music sold 428,834 for $28.00, making the entire transaction worth $12,007,352. This insider now owns 2,289,771 shares in total.
Warner Music Group Corp (WMG) Performance Highlights and Predictions
As on 6/30/2024, Multinational firm has announced its last quarter scores, in which it reported 0.34 earnings per share (EPS) for the period topping the consensus outlook (set at 0.25) by 0.09. Wall Street market experts anticipate that the next fiscal year will bring earnings of 0.39 per share during the current fiscal year.
According to the Wall Street analysts, stocks earnings will be around 39.64% per share during the next fiscal year. For the long-term projections, market analysts anticipate that the company’s EPS will surge by 15.05% during the next five years compared to 6.43% growth over the previous five years of trading.
Warner Music Group Corp (NASDAQ: WMG) Trading Performance Indicators
Warner Music Group Corp (WMG) is currently performing well based on its current performance indicators. A quick ratio of 0.67 was reported for the most recent quarter. In addition, a publicly-traded company’s price to sales ratio for the trailing twelve months stands at 2.63. Likewise, its price to free cash flow for the trailing twelve months is 25.24.
For the trailing twelve months, Company’s Diluted EPS (Earnings per Share) is 1.04, a number that is poised to hit 0.28 in the next quarter and is forecasted to reach 1.44 in one year’s time.
Technical Analysis of Warner Music Group Corp (WMG)
Let’s dig in a bit further. During the last 5-days, its volume was 1.17 million. That was inferior than the volume of 1.85 million it reported in year-ago period. As of the previous 9 days, the stock’s Stochastic %D was 91.18%. Additionally, its Average True Range was 0.58.
During the past 100 days, Warner Music Group Corp’s (WMG) raw stochastic average was set at 97.45%, which indicates a significant increase from 95.42% during the past two weeks. Based on volatility metrics of the stock, it showed a historical volatility of 16.94% in the past 14 days, which was lower than the 25.29% volatility it showed in the past 100 days.
At the time of writing, stock’s 50-day Moving Average is $29.79, while its 200-day Moving Average is $32.10. However, in the short run, Warner Music Group Corp’s stock first resistance to watch stands at $32.58. Second resistance stands at $32.74. The third major resistance level sits at $32.99. If the price goes on to break the first support level at $32.17, it is likely to go to the next support level at $31.92. Assuming the price breaks the second support level, the third support level stands at $31.76.
Warner Music Group Corp (NASDAQ: WMG) Key Stats
Market capitalization of the company is 16.79 billion based on 517,914K outstanding shares. Right now, sales total 6,037 M and income totals 430,000 K. The company made 1,554 M in profit during its latest quarter, and 139,000 K in sales during its previous quarter.
