Tigress Financial Raises Warner Music Group (NASDAQ:WMG) Price Target to $45.00

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 hoisted by equities research analysts at Tigress Financial from $44.00 to $45.00 in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage presently has a "buy" rating on the stock. Tigress Financial's price target would suggest a potential upside of 33.89% from the stock's previous close.

Several other equities research analysts also recently issued reports on the stock. Barclays raised their target price on shares of Warner Music Group from $28.00 to $30.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 9th. Redburn Atlantic upgraded shares of 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. Cowen reiterated a "buy" rating on shares of Warner Music Group in a research note on Thursday, August 7th. The Goldman Sachs Group raised their target price on shares of Warner Music Group from $28.00 to $31.00 and gave the company a "neutral" rating in a research note on Tuesday, August 12th. Finally, Citigroup raised their target price on shares of Warner Music Group from $33.00 to $41.00 and gave the company a "buy" rating in a research note on Tuesday, September 9th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, Warner Music Group has a consensus rating of "Moderate Buy" and a consensus target price of $34.65.

Warner Music Group Stock Down 0.0%

Shares of Warner Music Group stock traded down $0.01 during trading hours on Wednesday, reaching $33.61. 314,376 shares of the company's stock were exchanged, compared to its average volume of 1,889,405. The company has a 50 day moving average of $31.71 and a two-hundred day moving average of $30.04. Warner Music Group has a fifty-two week low of $25.56 and a fifty-two week high of $36.64. The company has a current ratio of 0.66, a quick ratio of 0.64 and a debt-to-equity ratio of 5.37. The stock has a market cap of $17.52 billion, a P/E ratio of 58.97, a P/E/G ratio of 1.66 and a beta of 1.31.

Warner Music Group (NASDAQ:WMG - Get Free Report) last posted 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). Warner Music Group had a return on equity of 39.95% and a net margin of 4.59%.The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the prior year, the company earned $0.27 earnings per share. The company's quarterly revenue was up 8.7% on a year-over-year basis. On average, sell-side analysts forecast that Warner Music Group will post 1.39 EPS for the current fiscal year.

Institutional Trading of Warner Music Group

Institutional investors have recently modified their holdings of the business. Banque Cantonale Vaudoise bought a new stake in shares of Warner Music Group in the first quarter worth $40,000. Osaic Holdings Inc. boosted its position in Warner Music Group by 480.9% during the second quarter. Osaic Holdings Inc. now owns 1,493 shares of the company's stock valued at $41,000 after acquiring an additional 1,236 shares during the last quarter. UMB Bank n.a. boosted its position in Warner Music Group by 101.5% during the first quarter. UMB Bank n.a. now owns 1,453 shares of the company's stock valued at $46,000 after acquiring an additional 732 shares during the last quarter. State of Wyoming bought a new stake in Warner Music Group during the fourth quarter valued at $47,000. Finally, CWM LLC boosted its position in Warner Music Group by 528.0% during the second quarter. CWM LLC now owns 1,884 shares of the company's stock valued at $51,000 after acquiring an additional 1,584 shares during the last quarter. 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.