Warner Music Group (WMG) – Investment Analysts’ Recent Ratings Changes

Warner Music Group (NASDAQ: WMG) recently received a number of ratings updates from brokerages and research firms:

• 5/9/2022 – Warner Music Group had its price target lowered by analysts at Truist Financial Co. from $45.00 to $40.00.
• 4/25/2022 – Warner Music Group had its “sell” rating reaffirmed by analysts at Redburn Partners.
• 4/21/2022 – Warner Music Group had its price target lowered by analysts at Guggenheim from $50.00 to $39.00.
• 4/20/2022 – Warner Music Group was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Warner Music Group Corp is a music-based content company. It operating segment consist Recorded Music and Music Publishing. Recorded Music segment is involved in the discovery and development of recording artists. Music Publishing segment owns and acquires rights. The company operates principally in the United States, the United Kingdom and internationally. Warner Music Group Corp is based in New York. “
• 4/14/2022 – Warner Music Group was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Warner Music Group Corp is a music-based content company. It operating segment consist Recorded Music and Music Publishing. Recorded Music segment is involved in the discovery and development of recording artists. Music Publishing segment owns and acquires rights. The company operates principally in the United States, the United Kingdom and internationally. Warner Music Group Corp is based in New York. “
• 3/11/2022 – Warner Music Group is now covered by analysts at Deutsche Bank Aktiengesellschaft. They set a “buy” rating and a $42.00 price target on the stock.

Shares of NASDAQ WMG traded down $1.29 on Tuesday, hitting $25.98. The company had a trading volume of 71,350 shares, compared to its average volume of 1,679,891. Warner Music Group Corp. has a 12-month low of $27.10 and a 12-month high of $50.23. The business has a 50 day moving average of $34.29 and a two-hundred day moving average of $39.30. The company has a quick ratio of 0.58, a current ratio of 0.60 and a debt-to-equity ratio of 22.36. The firm has a market capitalization of $13.37 billion, a P/E ratio of 34.64, a PEG ratio of 0.99 and a beta of 1.32.

Warner Music Group (NASDAQ:WMG – Get Rating) last issued its earnings results on Tuesday, February 8th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the prior year, the business earned $0.20 earnings per share. The company’s revenue was up 20.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Warner Music Group Corp. will post 0.96 earnings per share for the current year.

In related news, Director Lincoln E. Benet sold 20,000 shares of the business’s 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Lincoln E. Benet sold 10,000 shares of the stock in a transaction that occurred on Friday, March 4th. The stock was sold at an average price of $33.20, for a total value of $332,000.00. The disclosure for this sale can be found here. Insiders sold 60,000 shares of company stock valued at $2,165,000 in the last ninety days. Company insiders own 76.57% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Eagle Bay Advisors LLC boosted its stake in Warner Music Group by 100.0% during the 3rd quarter. Eagle Bay Advisors LLC now owns 600 shares of the company’s stock valued at $26,000 after purchasing an additional 300 shares in the last quarter. Westpac Banking Corp bought a new stake in shares of Warner Music Group during the 4th quarter worth $27,000. PNC Financial Services Group Inc. boosted its stake in shares of Warner Music Group by 201.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 958 shares of the company’s stock worth $41,000 after acquiring an additional 640 shares in the last quarter. JustInvest LLC bought a new stake in shares of Warner Music Group during the 4th quarter worth $226,000. Finally, Veritable L.P. bought a new stake in shares of Warner Music Group during the 3rd quarter worth $252,000. 22.29% of the stock is owned by hedge funds and other institutional investors.

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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