Fintel reports that on April 14, 2023, Barclays maintained coverage of Warner Music Group (NASDAQ:WMG) with a Equal-Weight recommendation.
Analyst Price Forecast Suggests 24.86% Upside
As of April 7, 2023, the average one-year price target for Warner Music Group is $39.16. The forecasts range from a low of $32.32 to a high of $54.60. The average price target represents an increase of 24.86% from its latest reported closing price of $31.36.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Warner Music Group is $6,262MM, an increase of 8.10%. The projected annual non-GAAP EPS is $1.08.
Warner Music Group Declares $0.16 Dividend
On February 10, 2023 the company declared a regular quarterly dividend of $0.16 per share ($0.64 annualized). Shareholders of record as of February 21, 2023 received the payment on March 1, 2023. Previously, the company paid $0.16 per share.
At the current share price of $31.36 / share, the stock's dividend yield is 2.04%. Looking back five years and taking a sample every week, the average dividend yield has been 1.70%, the lowest has been 1.23%, and the highest has been 2.86%. The standard deviation of yields is 0.39 (n=123).
The current dividend yield is 0.87 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.68. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
What are Other Shareholders Doing?
DSMDX - Driehaus Small holds 3K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 4K shares, representing a decrease of 28.23%. The firm increased its portfolio allocation in WMG by 9.60% over the last quarter.
SA FUNDS INVESTMENT TRUST - SA U.S. Core Market Fund holds 1K shares representing 0.00% ownership of the company. No change in the last quarter.
Sumitomo Mitsui Trust Holdings holds 52K shares representing 0.01% ownership of the company. In it's prior filing, the firm reported owning 61K shares, representing a decrease of 16.26%. The firm decreased its portfolio allocation in WMG by 99.87% over the last quarter.
Stephens holds 7K shares representing 0.00% ownership of the company. No change in the last quarter.
Versant Capital Management holds 0K shares representing 0.00% ownership of the company. No change in the last quarter.
What is the Fund Sentiment?
There are 419 funds or institutions reporting positions in Warner Music Group.
This is an increase
of
45
owner(s) or 12.03% in the last quarter.
Average portfolio weight of all funds dedicated to WMG is 0.43%,
an increase
of 25.88%.
Total shares owned by institutions increased
in the last three months by 0.25% to 144,850K shares.
The put/call ratio of WMG is 0.10, indicating a
bullish
outlook.
Warner Music Group Background Information
(This description is provided by the company.)
With a legacy extending back over 200 years, Warner Music Group (WMG) today brings together artists, songwriters and entrepreneurs that are moving entertainment culture across the globe. Operating in more than 70 countries through a network of affiliates and licensees, WMG's Recorded Music division includes renowned labels such as Asylum, Atlantic, Big Beat, Canvasback, Elektra, Erato, First Night, Fueled by Ramen, Nonesuch, Parlophone, Reprise, Rhino, Roadrunner, Sire, Spinnin', Warner Records, Warner Classics and Warner Music Nashville. WMG's music publishing arm, Warner Chappell Music, has a catalog of more than 1.4 million musical compositions spanning every musical genre, from the standards of the Great American Songbook to the biggest hits of the 21st century. Warner Music Group is also home to ADA, the independent artist and label services company, as well as consumer brands such as Songkick, the live music app; EMP, the merchandise e-tailer; and UPROXX, the youth culture destination.
See all Warner Music Group regulatory filings.This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
