Warner Music Group (WMG, Financial) has appointed Armin Zerza as its new Executive Vice President and Chief Financial Officer, effective May 5. Zerza, who will report directly to CEO Robert Kyncl, brings a wealth of experience from his previous role as CFO of Activision Blizzard. His tenure there was marked by significant financial and operational achievements while the company was publicly traded.
Armin Zerza's appointment comes as current EVP and CFO, Bryan Castellani, is set to step down. Castellani will continue in his current role until May 5, after which he will transition into an advisory position to facilitate a seamless transition and support the leadership change.
Warner Music's leadership emphasized Zerza's significant global financial and commercial experience as valuable assets in driving the company's strategic financial objectives. The appointment underscores the company's commitment to strengthening its financial leadership as it navigates the evolving music industry landscape.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 18 analysts, the average target price for Warner Music Group Corp (WMG, Financial) is $35.56 with a high estimate of $44.00 and a low estimate of $23.00. The average target implies an upside of 22.50% from the current price of $29.03. More detailed estimate data can be found on the Warner Music Group Corp (WMG) Forecast page.
Based on the consensus recommendation from 20 brokerage firms, Warner Music Group Corp's (WMG, Financial) average brokerage recommendation is currently 2.3, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Warner Music Group Corp (WMG, Financial) in one year is $34.77, suggesting a upside of 19.77% from the current price of $29.03. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Warner Music Group Corp (WMG) Summary page.
