Warner Music Group Corp. (NASDAQ:WMG) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Warner Music Group Corp. (NASDAQ:WMG) have earned an average recommendation of “Moderate Buy” from the sixteen brokerages that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $37.19.

A number of research firms have issued reports on WMG. Deutsche Bank Aktiengesellschaft decreased their price objective on Warner Music Group from $42.00 to $36.00 and set a “buy” rating for the company in a report on Tuesday. Wells Fargo & Company dropped their price objective on shares of Warner Music Group from $37.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Morgan Stanley started coverage on shares of Warner Music Group in a report on Monday, May 6th. They set an “overweight” rating and a $43.00 target price for the company. Redburn Atlantic restated a “sell” rating and issued a $23.00 price target (up previously from $21.00) on shares of Warner Music Group in a research note on Wednesday, July 10th. Finally, Evercore ISI reduced their price objective on Warner Music Group from $40.00 to $36.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th.

Warner Music Group Stock Up 1.5 %

Shares of NASDAQ:WMG opened at $27.91 on Wednesday. The company has a debt-to-equity ratio of 6.26, a quick ratio of 0.67 and a current ratio of 0.69. Warner Music Group has a 52-week low of $27.06 and a 52-week high of $38.05. The firm has a market capitalization of $14.45 billion, a P/E ratio of 27.91, a P/E/G ratio of 1.78 and a beta of 1.38. The stock has a 50 day moving average price of $30.20 and a 200-day moving average price of $32.44.

Institutional Trading of Warner Music Group

Several large investors have recently modified their holdings of the company. Benjamin Edwards Inc. grew its position in Warner Music Group by 74.5% during the second quarter. Benjamin Edwards Inc. now owns 953 shares of the company’s stock valued at $29,000 after buying an additional 407 shares during the period. ORG Partners LLC boosted its stake in shares of Warner Music Group by 5,790.5% during the 2nd quarter. ORG Partners LLC now owns 1,237 shares of the company’s stock worth $37,000 after acquiring an additional 1,216 shares during the last quarter. Fifth Third Bancorp bought a new stake in shares of Warner Music Group during the 4th quarter valued at $38,000. Mather Group LLC. purchased a new stake in shares of Warner Music Group in the 1st quarter worth $45,000. Finally, SRS Capital Advisors Inc. bought a new position in Warner Music Group in the 4th quarter worth $46,000. 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.