Weiss Ratings Reaffirms "Hold (C-)" Rating for Warner Music Group (NASDAQ:WMG)

Key Points

• Weiss Ratings has reaffirmed a "hold (C-)" rating for Warner Music Group (NASDAQ: WMG) in a recent research note.
• Multiple analysts have raised their price targets for WMG, with Tigress Financial increasing it to $45.00 and Wells Fargo boosting it to $34.00, reflecting positive sentiment amid a thriving streaming market.
• Warner Music Group's stock is currently trading at $32.79, with a market capitalization of $17.09 billion and a P/E ratio of 57.49, after reporting revenue of $1.69 billion for the last quarter.

Warner Music Group (NASDAQ:WMG - Get Free Report)'s stock had its "hold (c-)" rating reaffirmed by stock analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Several other equities analysts have also recently commented on WMG. Tigress Financial increased their target price on Warner Music Group from $44.00 to $45.00 and gave the company a "buy" rating in a research note on Wednesday, September 10th. Wells Fargo & Company raised their price objective on Warner Music Group from $30.00 to $34.00 and gave the stock an "equal weight" rating in a research note on Friday, August 8th. Barclays raised their price objective on Warner Music Group from $28.00 to $30.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 9th. The Goldman Sachs Group raised their price objective on Warner Music Group from $28.00 to $31.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 12th. Finally, Redburn Atlantic upgraded Warner Music Group from a "strong sell" rating to a "hold" rating and set a $30.00 price objective on the stock in a research note on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $35.24.

Warner Music Group Trading Up 0.2%

Shares of NASDAQ WMG traded up $0.07 on Wednesday, reaching $32.79. 860,151 shares of the company traded hands, compared to its average volume of 1,879,653. 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 50 day moving average of $32.72 and a 200 day moving average of $30.10. 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 capitalization of $17.09 billion, a PE ratio of 57.49, a P/E/G ratio of 1.05 and a beta of 1.32.

Warner Music Group (NASDAQ:WMG - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.27 by ($0.30). The business 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 firm's revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period last year, the company posted $0.27 EPS. On average, equities research analysts forecast that Warner Music Group will post 1.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Warner Music Group

Institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC lifted its holdings in shares of Warner Music Group by 85.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,107 shares of the company's stock valued at $38,000 after buying an additional 511 shares during the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of Warner Music Group during the 1st quarter valued at about $40,000. Osaic Holdings Inc. lifted its holdings in shares of Warner Music Group by 480.9% during the 2nd quarter. Osaic Holdings Inc. now owns 1,493 shares of the company's stock valued at $41,000 after buying an additional 1,236 shares during the last quarter. 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 buying an additional 732 shares during the last quarter. Finally, CWM LLC lifted its holdings in shares of Warner Music Group by 528.0% during the 2nd quarter. CWM LLC now owns 1,884 shares of the company's stock valued at $51,000 after buying an additional 1,584 shares during the last quarter. 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.

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