Investment analysts at Jefferies Financial Group initiated coverage on shares of Warner Music Group (NASDAQ:WMG – Get Free Report) in a research report issued on Thursday, Marketbeat Ratings reports. The firm set a “buy” rating and a $38.00 price target on the stock. Jefferies Financial Group’s price objective would indicate a potential upside of 26.08% from the stock’s previous close.
Several other analysts have also issued reports on WMG. Guggenheim reduced their target price on Warner Music Group from $46.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Loop Capital increased their target price on Warner Music Group from $36.00 to $38.00 and gave the stock a “hold” rating in a report on Thursday, April 18th. Redburn Atlantic reaffirmed a “sell” rating and issued a $23.00 price objective (up from $21.00) on shares of Warner Music Group in a research note on Wednesday. Finally, Morgan Stanley started coverage on Warner Music Group in a research note on Monday, May 6th. They issued an “overweight” rating and a $43.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.19.
View Our Latest Analysis on Warner Music Group
Warner Music Group Stock Performance
WMG traded up $0.63 during trading hours on Thursday, reaching $30.14. The company’s stock had a trading volume of 1,614,182 shares, compared to its average volume of 1,853,177. The company has a debt-to-equity ratio of 6.81, a quick ratio of 0.67 and a current ratio of 0.69. The company’s 50-day moving average is $31.16 and its 200-day moving average is $33.40. Warner Music Group has a 52 week low of $28.03 and a 52 week high of $38.05. The firm has a market cap of $15.61 billion, a PE ratio of 30.14, a price-to-earnings-growth ratio of 1.94 and a beta of 1.38.
Warner Music Group (NASDAQ:WMG – Get Free Report) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.07. Warner Music Group had a return on equity of 120.42% and a net margin of 8.28%. The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the firm posted $0.06 EPS. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, equities analysts forecast that Warner Music Group will post 1 EPS for the current year.
Institutional Investors Weigh In On Warner Music Group
Several large investors have recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale grew its stake in Warner Music Group by 40.6% in the first quarter. DekaBank Deutsche Girozentrale now owns 68,712 shares of the company’s stock valued at $2,270,000 after acquiring an additional 19,832 shares during the period. Tidal Investments LLC purchased a new position in shares of Warner Music Group during the first quarter valued at approximately $537,000. Jacobs Levy Equity Management Inc. boosted its position in shares of Warner Music Group by 1.2% during the first quarter. Jacobs Levy Equity Management Inc. now owns 175,712 shares of the company’s stock valued at $5,802,000 after buying an additional 2,161 shares during the last quarter. Bayesian Capital Management LP bought a new stake in Warner Music Group during the first quarter worth $759,000. Finally, Aristides Capital LLC purchased a new position in Warner Music Group in the first quarter worth $229,000. Institutional investors and hedge funds 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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