Warner Music Group’s (WMG) Neutral Rating Reaffirmed at Macquarie

Macquarie restated their neutral rating on shares of Warner Music Group (NASDAQ:WMG) in a research report sent to investors on Thursday, Benzinga reports. They currently have a $32.00 target price on the stock.

Several other research firms have also recently issued reports on WMG. Loop Capital upped their price objective on Warner Music Group from $36.00 to $38.00 and gave the stock a hold rating in a research report on Thursday, April 18th. Redburn Atlantic reissued a sell rating and issued a $23.00 target price (up from $21.00) on shares of Warner Music Group in a research report on Wednesday, July 10th. Wolfe Research started coverage on Warner Music Group in a research report on Friday, July 12th. They issued an outperform rating and a $37.00 target price for the company. Wells Fargo & Company decreased their target price on Warner Music Group from $37.00 to $34.00 and set an equal weight rating for the company in a research report on Thursday. Finally, Jefferies Financial Group started coverage on Warner Music Group in a research report on Thursday, July 11th. They issued a buy rating and a $38.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $37.27.

Warner Music Group Trading Down 0.2 %

WMG opened at $28.34 on Thursday. The business has a fifty day moving average price of $30.32 and a 200 day moving average price of $32.56. The stock has a market capitalization of $14.68 billion, a price-to-earnings ratio of 28.34, a PEG ratio of 1.77 and a beta of 1.38. Warner Music Group has a 12 month low of $27.06 and a 12 month high of $38.05. The company has a debt-to-equity ratio of 6.81, a current ratio of 0.69 and a quick ratio of 0.67.

Warner Music Group (NASDAQ:WMG) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.07. The business had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Warner Music Group had a return on equity of 120.42% and a net margin of 8.28%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.06 EPS. Sell-side analysts expect that Warner Music Group will post 1.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Warner Music Group

Large investors have recently bought and sold shares of the stock. Fifth Third Bancorp acquired a new stake in Warner Music Group during the 4th quarter valued at $38,000. ORG Partners LLC boosted its holdings in shares of Warner Music Group by 5,790.5% during the second quarter. ORG Partners LLC now owns 1,237 shares of the company’s stock worth $37,000 after purchasing an additional 1,216 shares during the last quarter. Mather Group LLC. acquired a new stake in shares of Warner Music Group during the first quarter worth $45,000. SRS Capital Advisors Inc. acquired a new stake in shares of Warner Music Group during the fourth quarter worth $46,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Warner Music Group during the first quarter worth $82,000. Institutional investors and hedge funds 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.