Tigress Financial Issues Positive Forecast for Warner Music Group (NASDAQ:WMG) Stock Price

Key Points

• Tigress Financial has raised its price target for Warner Music Group from $44.00 to $45.00, indicating a potential upside of 34.09% from the current price.
• There is a general shift in analyst ratings, with multiple firms increasing their price targets and ratings, reflecting a consensus rating of "Moderate Buy" for the stock.
• Currently, Warner Music Group's shares are trading at $33.56, with a market capitalization of $17.49 billion and a price-to-earnings ratio of 58.85.

Warner Music Group (NASDAQ:WMG - Get Free Report) had its price objective raised by investment analysts at Tigress Financial from $44.00 to $45.00 in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The firm currently has a "buy" rating on the stock. Tigress Financial's price objective indicates a potential upside of 33.85% from the company's previous close.

Several other equities research analysts have also recently weighed in on WMG. UBS Group restated a "buy" rating and set a $40.00 target price (up previously from $38.00) on shares of Warner Music Group in a research note on Friday, August 8th. Rothschild & Co Redburn upgraded Warner Music Group from a "sell" rating to a "neutral" rating and set a $30.00 target price for the company in a research note on Tuesday, July 15th. Sanford C. Bernstein boosted their target price on Warner Music Group from $32.00 to $34.00 and gave the stock an "outperform" rating in a research note on Thursday, July 3rd. Redburn Atlantic upgraded Warner Music Group from a "strong sell" rating to a "hold" rating and set a $30.00 target price for the company in a research note on Tuesday, July 15th. Finally, JPMorgan Chase & Co. boosted their target price on Warner Music Group from $32.00 to $33.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, Warner Music Group has an average rating of "Moderate Buy" and an average target price of $34.65.

Warner Music Group Stock Down 1.8%

Shares of Warner Music Group stock traded down $0.62 on Wednesday, reaching $33.62. 1,572,121 shares of the company were exchanged, compared to its average volume of 1,745,177. Warner Music Group has a 1-year low of $25.56 and a 1-year high of $36.64. The company has a market cap of $17.53 billion, a P/E ratio of 58.98, a price-to-earnings-growth ratio of 1.70 and a beta of 1.31. The company has a debt-to-equity ratio of 5.37, a current ratio of 0.66 and a quick ratio of 0.64. The stock's 50 day moving average price is $31.71 and its 200-day moving average price is $30.09.

Warner Music Group (NASDAQ:WMG - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.03) EPS for the quarter, missing analysts' consensus estimates of $0.27 by ($0.30). The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.59 billion. Warner Music Group had a return on equity of 39.95% and a net margin of 4.59%.The business's quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.27 earnings per share. As a group, equities analysts forecast that Warner Music Group will post 1.39 EPS for the current year.

Institutional Investors Weigh In On Warner Music Group

Large investors have recently modified their holdings of the stock. Banque Cantonale Vaudoise purchased a new stake in shares of Warner Music Group during the first quarter worth approximately $40,000. UMB Bank n.a. raised its stake in shares of Warner Music Group by 101.5% during the first quarter. UMB Bank n.a. now owns 1,453 shares of the company's stock worth $46,000 after purchasing an additional 732 shares during the last quarter. Osaic Holdings Inc. raised its stake in shares of Warner Music Group by 480.9% during the second quarter. Osaic Holdings Inc. now owns 1,493 shares of the company's stock worth $41,000 after purchasing an additional 1,236 shares during the last quarter. State of Wyoming purchased a new stake in shares of Warner Music Group during the fourth quarter worth approximately $47,000. Finally, Quarry LP purchased a new stake in shares of Warner Music Group during the first quarter worth approximately $54,000. Hedge funds and other institutional investors own 96.88% of the company's stock.

Warner Music Group Company Profile

Warner Music Group Corp. operates as a music entertainment company in the United States, the United Kingdom, Germany, and internationally. It operates through Recorded Music and Music Publishing segments. The Recorded Music segment is involved in the discovery and development of recording artists, as well as related marketing, promotion, distribution, sale, and licensing of music created by such recording artists; markets its music catalog through compilations and reissuances of previously released music and video titles, as well as previously unreleased materials; and conducts its operation primarily through a collection of record labels, such as Warner Records and Atlantic Records, as well as Asylum, Big Beat, Canvasback, East West, Erato, FFRR, Fueled by Ramen, Nonesuch, Parlophone, Reprise, Roadrunner, Sire, Spinnin' Records, Warner Classics, and Warner Music Nashville.