Warner Music Group (NASDAQ:WMG) Stock Rating Upgraded by Redburn Atlantic

Warner Music Group (NASDAQ:WMG - Get Free Report) was upgraded by equities research analysts at Redburn Atlantic from a "strong sell" rating to a "hold" rating in a research note issued to investors on Tuesday, July 15th, MarketBeat.com reports. The brokerage presently has a $30.00 price target on the stock. Redburn Atlantic's price objective would suggest a potential downside of 4.58% from the company's current price.

Several other research firms also recently commented on WMG. Wolfe Research raised shares of Warner Music Group to a "strong-buy" rating in a report on Thursday, May 8th. The Goldman Sachs Group downgraded shares of Warner Music Group from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $35.00 to $28.00 in a report on Monday, May 12th. Bank of America raised shares of Warner Music Group from an "underperform" rating to a "neutral" rating and upped their price objective for the company from $28.00 to $33.00 in a report on Wednesday, July 9th. Sanford C. Bernstein boosted their target price on shares of Warner Music Group from $32.00 to $34.00 and gave the company an "outperform" rating in a research note on Thursday, July 3rd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Warner Music Group from $32.00 to $33.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Ten equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Warner Music Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $33.72.

Warner Music Group Price Performance

Shares of WMG stock traded up $0.43 on Tuesday, hitting $31.44. 1,558,482 shares of the stock traded hands, compared to its average volume of 1,765,612. Warner Music Group has a 52 week low of $25.56 and a 52 week high of $36.64. The firm has a market cap of $16.39 billion, a price-to-earnings ratio of 36.14, a PEG ratio of 1.18 and a beta of 1.24. The firm has a 50 day simple moving average of $27.54 and a two-hundred day simple moving average of $30.08. The company has a debt-to-equity ratio of 5.43, a current ratio of 0.66 and a quick ratio of 0.64.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in WMG. Principal Financial Group Inc. lifted its holdings in shares of Warner Music Group by 2.9% in the first quarter. Principal Financial Group Inc. now owns 326,449 shares of the company's stock valued at $10,234,000 after purchasing an additional 9,103 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Warner Music Group by 5.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 953,549 shares of the company's stock valued at $29,560,000 after purchasing an additional 48,772 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Warner Music Group by 5,272.3% during the first quarter. GAMMA Investing LLC now owns 95,304 shares of the company's stock valued at $3,040,000 after acquiring an additional 93,530 shares during the last quarter. DigitalBridge Group Inc. increased its position in shares of Warner Music Group by 29.7% during the fourth quarter. DigitalBridge Group Inc. now owns 896,445 shares of the company's stock valued at $27,790,000 after acquiring an additional 205,529 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its position in shares of Warner Music Group by 88.0% during the first quarter. Exchange Traded Concepts LLC now owns 59,437 shares of the company's stock valued at $1,863,000 after acquiring an additional 27,821 shares during the last quarter. Institutional investors own 96.88% of the company's stock.

About Warner Music Group

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.