Universal Music Group (UMGNF) Expected to Announce Quarterly Earnings on Thursday

Universal Music Group (OTCMKTS:UMGNF) is expected to announce its resultson Thursday, July 30th. Analysts expect the company to post earnings of $0.4774 per share and revenue of $3.7074 billion for the quarter.

Universal Music Group Stock Up 2.8%

Shares of Universal Music Group stock opened at $21.43 on Tuesday. Universal Music Group has a 1-year low of $17.36 and a 1-year high of $31.15. The business’s fifty day moving average price is $21.49 and its two-hundred day moving average price is $22.22.

Analysts Set New Price Targets

UMGNF has been the topic of a number of research analyst reports. Zacks Research raised Universal Music Group to a “hold” rating in a report on Thursday, July 2nd. Wells Fargo & Company downgraded shares of Universal Music Group from an “overweight” rating to an “equal weight” rating in a report on Monday, April 6th. Guggenheim raised shares of Universal Music Group from a “neutral” rating to a “buy” rating in a research note on Tuesday, March 31st. Finally, The Goldman Sachs Group started coverage on shares of Universal Music Group in a research note on Monday, July 20th. They set a “hold” rating on the stock. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Universal Music Group Company Profile

Universal Music Group (OTCMKTS:UMGNF) is one of the world’s leading music entertainment companies, engaged in recorded music, music publishing, merchandising and brand partnerships. The company’s recorded music division encompasses a roster of major labels—such as Interscope Geffen A&M, Capitol Music Group, Republic Records, Island Records and Decca—and works with a diverse array of artists across genres ranging from pop and hip-hop to classical and jazz. Its music publishing arm, Universal Music Publishing Group, administers and exploits compositions by both established songwriters and emerging talent, providing licensing services for film, television, advertising and digital platforms.

Headquartered in Santa Monica, California, Universal Music Group operates on a truly global scale with regional offices in North America, Europe, Latin America, Asia-Pacific and Africa.