Warner Music Group Corp. (NASDAQ:WMG) Given Consensus Rating of “Hold” by Brokerages

Shares of Warner Music Group Corp. (NASDAQ:WMGGet Rating) have earned a consensus recommendation of “Hold” from the fourteen brokerages that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $48.09.

WMG has been the subject of a number of analyst reports. Tigress Financial boosted their price target on Warner Music Group from $48.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, December 22nd. Jefferies Financial Group raised Warner Music Group from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $41.00 to $50.00 in a research report on Tuesday, January 4th. Deutsche Bank Aktiengesellschaft started coverage on Warner Music Group in a research note on Friday, March 11th. They set a “buy” rating and a $42.00 price target on the stock. Zacks Investment Research lowered Warner Music Group from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, Credit Suisse Group dropped their price target on Warner Music Group from $50.00 to $45.00 and set an “outperform” rating for the company in a report on Wednesday, February 9th.

In other Warner Music Group news, Director Lincoln E. Benet sold 10,000 shares of Warner Music Group stock in a transaction dated Wednesday, March 30th. The stock was sold at an average price of $38.25, for a total transaction of $382,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Lincoln E. Benet sold 20,000 shares of Warner Music Group stock in a transaction dated Monday, February 28th. The stock was sold at an average price of $35.64, for a total value of $712,800.00. The disclosure for this sale can be found here. Insiders sold a total of 60,000 shares of company stock worth $2,165,000 over the last 90 days. 76.57% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the business. DNB Asset Management AS raised its stake in shares of Warner Music Group by 0.6% in the 1st quarter. DNB Asset Management AS now owns 116,411 shares of the company’s stock valued at $4,406,000 after purchasing an additional 640 shares during the period. BOKF NA acquired a new stake in shares of Warner Music Group in the 4th quarter valued at about $2,982,000. Norges Bank acquired a new stake in shares of Warner Music Group in the 4th quarter valued at about $17,507,000. Stephens Inc. AR raised its stake in shares of Warner Music Group by 8.0% in the 4th quarter. Stephens Inc. AR now owns 5,847 shares of the company’s stock valued at $252,000 after purchasing an additional 432 shares during the period. Finally, JustInvest LLC acquired a new stake in shares of Warner Music Group in the 4th quarter valued at about $226,000. Hedge funds and other institutional investors own 19.12% of the company’s stock.

Shares of WMG traded down $1.66 during midday trading on Friday, reaching $35.65. The stock had a trading volume of 1,211,430 shares, compared to its average volume of 1,036,477. The company has a debt-to-equity ratio of 22.36, a current ratio of 0.60 and a quick ratio of 0.58. The company has a market capitalization of $18.35 billion, a P/E ratio of 47.53, a P/E/G ratio of 1.17 and a beta of 1.07. The firm’s 50 day moving average price is $36.28 and its 200-day moving average price is $41.07. Warner Music Group has a 52 week low of $29.34 and a 52 week high of $50.23.

Warner Music Group (NASDAQ:WMGGet Rating) last issued its quarterly earnings results on Tuesday, February 8th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.14. Warner Music Group had a return on equity of 481.86% and a net margin of 7.04%. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the previous year, the company posted $0.20 earnings per share. Warner Music Group’s revenue for the quarter was up 20.9% compared to the same quarter last year. On average, equities analysts forecast that Warner Music Group will post 1 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 1st. Stockholders of record on Friday, February 18th were given a $0.15 dividend. The ex-dividend date was Thursday, February 17th. This represents a $0.60 annualized dividend and a dividend yield of 1.68%. Warner Music Group’s dividend payout ratio is currently 80.00%.

Warner Music Group Company Profile (Get Rating)

Warner Music Group Corp. operates as a music entertainment company in the United States, the United Kingdom, Germany, and internationally. The company 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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