Warner Music Group (NASDAQ:WMG - Get Free Report) was upgraded by Rothschild & Co Redburn from a "sell" rating to a "neutral" rating in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. The brokerage presently has a $30.00 price target on the stock. Rothschild & Co Redburn's target price indicates a potential downside of 1.02% from the company's current price.
WMG has been the topic of several other reports. JPMorgan Chase & Co. increased their price target on Warner Music Group from $32.00 to $33.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Wolfe Research upgraded Warner Music Group to a "strong-buy" rating in a report on Thursday, May 8th. Barclays increased their price target on Warner Music Group from $28.00 to $30.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 9th. Morgan Stanley reduced their price target on Warner Music Group from $32.00 to $31.00 and set an "equal weight" rating on the stock in a report on Friday, May 9th. Finally, Sanford C. Bernstein increased their price target on Warner Music Group from $32.00 to $34.00 and gave the stock an "outperform" rating in a report on Thursday, July 3rd. Ten research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Warner Music Group presently has an average rating of "Moderate Buy" and a consensus target price of $33.72.
Read Our Latest Research Report on Warner Music Group
Warner Music Group Price Performance
Shares of Warner Music Group stock traded down $0.15 during trading hours on Tuesday, hitting $30.31. The company's stock had a trading volume of 2,172,405 shares, compared to its average volume of 1,768,491. The company has a debt-to-equity ratio of 5.43, a quick ratio of 0.64 and a current ratio of 0.66. The company has a market cap of $15.80 billion, a PE ratio of 35.01, a PEG ratio of 1.16 and a beta of 1.24. Warner Music Group has a 12-month low of $25.56 and a 12-month high of $36.64. The business has a 50 day moving average price of $27.38 and a two-hundred day moving average price of $30.09.
Warner Music Group (NASDAQ:WMG - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.07 EPS for the quarter, missing analysts' consensus estimates of $0.28 by ($0.21). The firm had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.52 billion. Warner Music Group had a return on equity of 64.64% and a net margin of 7.14%. Warner Music Group's quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.18 earnings per share. Analysts expect that Warner Music Group will post 1.39 earnings per share for the current fiscal year.
Institutional Trading of Warner Music Group
Several hedge funds and other institutional investors have recently bought and sold shares of WMG. Itau Unibanco Holding S.A. lifted its holdings in shares of Warner Music Group by 122.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 1,064 shares of the company's stock valued at $33,000 after purchasing an additional 586 shares during the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of Warner Music Group during the 1st quarter valued at $40,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Warner Music Group during the 4th quarter valued at $43,000. UMB Bank n.a. lifted its holdings in shares of Warner Music Group by 101.5% during the 1st quarter. UMB Bank n.a. now owns 1,453 shares of the company's stock valued at $46,000 after purchasing an additional 732 shares during the last quarter. Finally, State of Wyoming purchased a new position in Warner Music Group in the 4th quarter worth $47,000. Institutional investors own 96.88% of the company's stock.
About Warner Music Group
(
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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.
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