Warner Music Group (NASDAQ:WMG) Receives “Sell” Rating from Redburn Partners

Warner Music Group (NASDAQ:WMGGet Rating)‘s stock had its “sell” rating restated by Redburn Partners in a research report issued to clients and investors on Monday, The Fly reports.

A number of other analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Warner Music Group from a “hold” rating to a “sell” rating in a research note on Wednesday, April 20th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Warner Music Group in a research note on Friday, March 11th. They issued a “buy” rating and a $42.00 target price on the stock. Credit Suisse Group lowered their target price on shares of Warner Music Group from $50.00 to $45.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 9th. Guggenheim reduced their price target on shares of Warner Music Group from $50.00 to $39.00 in a research report on Thursday. Finally, Jefferies Financial Group upgraded shares of Warner Music Group from a “hold” rating to a “buy” rating and boosted their price target for the company from $41.00 to $50.00 in a research report on Tuesday, January 4th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Warner Music Group has a consensus rating of “Hold” and a consensus price target of $47.69.

NASDAQ:WMG opened at $31.34 on Monday. The firm’s 50-day moving average is $35.76 and its 200-day moving average is $40.65. Warner Music Group has a 52-week low of $29.34 and a 52-week high of $50.23. The company has a debt-to-equity ratio of 22.36, a quick ratio of 0.58 and a current ratio of 0.60. The company has a market cap of $16.13 billion, a price-to-earnings ratio of 41.79, a PEG ratio of 1.11 and a beta of 1.07.

Warner Music Group (NASDAQ:WMGGet Rating) last posted its earnings results on Tuesday, February 8th. The company reported $0.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.14. The business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Warner Music Group had a net margin of 7.04% and a return on equity of 481.86%. The firm’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.20 earnings per share. Equities analysts predict that Warner Music Group will post 1.02 EPS for the current year.

In related news, Director Lincoln E. Benet sold 20,000 shares of the stock in a transaction that occurred on Monday, February 28th. The shares were sold at an average price of $35.64, for a total value of $712,800.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Lincoln E. Benet sold 10,000 shares of the stock in a transaction that occurred on Friday, March 4th. The shares were sold at an average price of $33.20, for a total transaction of $332,000.00. The disclosure for this sale can be found here. Insiders have sold 60,000 shares of company stock worth $2,165,000 over the last quarter. 76.57% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of WMG. Assenagon Asset Management S.A. increased its position in shares of Warner Music Group by 597.8% during the first quarter. Assenagon Asset Management S.A. now owns 1,244,870 shares of the company’s stock worth $47,118,000 after acquiring an additional 1,066,475 shares in the last quarter. Retirement Systems of Alabama bought a new stake in shares of Warner Music Group during the first quarter worth $21,113,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Warner Music Group by 16.6% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 101,695 shares of the company’s stock worth $3,849,000 after acquiring an additional 14,447 shares in the last quarter. AE Wealth Management LLC bought a new stake in shares of Warner Music Group during the first quarter worth $312,000. Finally, DNB Asset Management AS increased its position in shares of Warner Music Group by 0.6% during the first quarter. DNB Asset Management AS now owns 116,411 shares of the company’s stock worth $4,406,000 after acquiring an additional 640 shares in the last quarter. 19.12% of the stock is owned by hedge funds and other institutional investors.

About Warner Music Group (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.

Read More

The Fly logo

Analyst Recommendations for Warner Music Group (NASDAQ:WMG)

Receive News & Ratings for Warner Music Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Warner Music Group and related companies with MarketBeat.com's FREE daily email newsletter.