Universal Music Group (UMGNF) Projected to Post Earnings on Thursday

Universal Music Group (OTCMKTS:UMGNF) is anticipated to post its resultson Thursday, July 30th. Analysts expect the company to post earnings of $0.4774 per share and revenue of $3.7114 billion for the quarter.

Universal Music Group Trading Down 2.0%

UMGNF opened at $20.70 on Thursday. The firm’s fifty day moving average is $21.66 and its two-hundred day moving average is $22.33. Universal Music Group has a twelve month low of $17.36 and a twelve month high of $33.77.

Analyst Ratings Changes

Several research firms have weighed in on UMGNF. The Goldman Sachs Group began coverage on Universal Music Group in a report on Monday. They set a “hold” rating on the stock. Wells Fargo & Company downgraded Universal Music Group from an “overweight” rating to an “equal weight” rating in a report on Monday, April 6th. Guggenheim upgraded Universal Music Group from a “neutral” rating to a “buy” rating in a report on Tuesday, March 31st. Finally, Zacks Research raised Universal Music Group to a “hold” rating in a research report on Thursday, July 2nd. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Universal Music Group presently has an average 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.