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

Universal Music Group (OTCMKTS:UMGNF) is projected to issue its results after the market closes on Thursday, October 29th. Analysts expect Universal Music Group to announce earnings of $0.4774 per share and revenue of $7.09 billion for the quarter.

Universal Music Group Stock Performance

Shares of OTCMKTS UMGNF opened at $17.66 on Tuesday. Universal Music Group has a fifty-two week low of $15.21 and a fifty-two week high of $27.65. The business has a 50 day moving average price of $16.90 and a two-hundred day moving average price of $20.65.

Analysts Set New Price Targets

UMGNF has been the topic of a number of research analyst reports. Zacks Research upgraded shares of Universal Music Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 29th. HSBC downgraded shares of Universal Music Group from a “hold” rating to a “reduce” rating in a research report on Thursday, August 13th. Barclays upgraded shares of Universal Music Group from an “equal weight” rating to an “overweight” rating in a research note on Friday, October 2nd. Citigroup began coverage on shares of Universal Music Group in a research report on Monday, August 17th. They set a “buy” rating on the stock. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Universal Music Group in a research note on Tuesday, August 4th. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Universal Music Group has a consensus rating of “Hold”.

About Universal Music Group

Universal Music Group N.V. is a global music-based entertainment company that develops, records, distributes and promotes music. Its operations include recorded music, music publishing, merchandising and brand management, with a catalog spanning a broad range of genres, artists and historical recordings.

The company operates through a portfolio of record labels and brands, including Republic Records, Interscope Geffen A&M, Capitol Music Group, Island Records, Def Jam Recordings, Motown Records and Verve Label Group.