Warner Music Group (NASDAQ:WMG) Rating Increased to Hold at Redburn Atlantic

Warner Music Group (NASDAQ:WMG - Get Free Report) was upgraded by research analysts at Redburn Atlantic from a "strong sell" rating to a "hold" rating in a research note issued to investors on Tuesday, MarketBeat reports. The firm presently has a $30.00 price objective on the stock. Redburn Atlantic's price objective indicates a potential downside of 3.89% from the company's previous close.

Several other analysts have also recently commented on the stock. Citigroup reiterated a "buy" rating and set a $34.00 target price (down previously from $35.00) on shares of Warner Music Group in a research report on Thursday, May 29th. Morgan Stanley decreased their price target on shares of Warner Music Group from $32.00 to $31.00 and set an "equal weight" rating for the company in a report on Friday, May 9th. Sanford C. Bernstein boosted their price target on shares of Warner Music Group from $32.00 to $34.00 and gave the company an "outperform" rating in a report on Thursday, July 3rd. Bank of America raised shares of Warner Music Group from an "underperform" rating to a "neutral" rating and boosted their price target for the company from $28.00 to $33.00 in a report on Wednesday, July 9th. Finally, FBN Securities began coverage on shares of Warner Music Group in a report on Friday, March 28th. They issued a "sector perform" rating and a $35.00 price target for the company. Ten analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Warner Music Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $33.72.

Warner Music Group Trading Down 0.2%

WMG stock traded down $0.06 during trading on Tuesday, hitting $31.22. The company had a trading volume of 1,174,008 shares, compared to its average volume of 1,767,398. The company has a quick ratio of 0.64, a current ratio of 0.66 and a debt-to-equity ratio of 5.43. The firm has a 50-day moving average price of $27.47 and a 200-day moving average price of $30.10. Warner Music Group has a 12 month low of $25.56 and a 12 month high of $36.64. The stock has a market cap of $16.27 billion, a price-to-earnings ratio of 35.91, a PEG ratio of 1.17 and a beta of 1.24.

Warner Music Group (NASDAQ:WMG - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.21). Warner Music Group had a return on equity of 64.64% and a net margin of 7.14%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter last year, the firm earned $0.18 EPS. The business's revenue for the quarter was down .7% on a year-over-year basis. As a group, analysts predict that Warner Music Group will post 1.39 earnings per share for the current year.

Institutional Investors Weigh In On Warner Music Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Avior Wealth Management LLC bought a new stake in Warner Music Group during the 2nd quarter worth about $932,000. Revisor Wealth Management LLC bought a new stake in Warner Music Group during the 2nd quarter worth about $230,000. Arlington Partners LLC bought a new stake in Warner Music Group during the 2nd quarter worth about $1,673,000. Perpetual Ltd lifted its position in Warner Music Group by 5.3% during the 2nd quarter. Perpetual Ltd now owns 660,531 shares of the company's stock worth $17,993,000 after buying an additional 33,422 shares in the last quarter. Finally, E. Ohman J or Asset Management AB lifted its position in Warner Music Group by 3.3% during the 2nd quarter. E. Ohman J or Asset Management AB now owns 1,048,077 shares of the company's stock worth $28,550,000 after buying an additional 33,652 shares in the last quarter. 96.88% of the stock is owned by institutional investors.

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.