Research Analysts’ Recent Ratings Changes for Warner Music Group (WMG)

Warner Music Group (NASDAQ: WMG) has recently received a number of price target changes and ratings updates:

  • 5/17/2022 – Warner Music Group had its price target lowered by analysts at Citigroup Inc. from $41.00 to $31.00. They now have a “na” rating on the stock.
  • 5/12/2022 – 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. “
  • 5/11/2022 – Warner Music Group had its price target lowered by analysts at Barclays PLC from $49.00 to $37.00.
  • 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. “

NASDAQ WMG traded up $0.98 during mid-day trading on Thursday, reaching $28.94. 796,853 shares of the stock were exchanged, compared to its average volume of 1,686,867. Warner Music Group Corp. has a one year low of $24.39 and a one year high of $50.23. The stock has a 50 day simple moving average of $33.04 and a 200-day simple moving average of $37.74. The stock has a market cap of $14.90 billion, a P/E ratio of 40.76, a P/E/G ratio of 1.15 and a beta of 1.32. The company has a debt-to-equity ratio of 22.13, a current ratio of 0.61 and a quick ratio of 0.58.

Warner Music Group (NASDAQ:WMGGet Rating) last announced its earnings results on Tuesday, May 10th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.03). Warner Music Group had a return on equity of 362.14% and a net margin of 6.45%. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the prior year, the business earned $0.22 EPS. Warner Music Group’s quarterly revenue was up 10.1% on a year-over-year basis. Sell-side analysts anticipate that Warner Music Group Corp. will post 0.9 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 1st. Shareholders of record on Monday, May 23rd will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.07%. The ex-dividend date is Friday, May 20th. Warner Music Group’s dividend payout ratio (DPR) is currently 84.51%.

In other news, Director Lincoln E. Benet sold 20,000 shares of Warner Music Group stock in a transaction dated Monday, February 28th. The shares were sold at an average price of $35.64, for a total transaction of $712,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lincoln E. Benet sold 10,000 shares of Warner Music Group stock in a transaction dated Wednesday, March 2nd. The shares were sold at an average price of $35.80, for a total transaction of $358,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,000 shares of company stock valued at $2,165,000. Insiders own 76.57% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Neuberger Berman Group LLC purchased a new position in Warner Music Group during the first quarter worth about $6,843,000. Mirabella Financial Services LLP purchased a new position in Warner Music Group during the first quarter worth about $230,000. RBO & Co. LLC boosted its stake in Warner Music Group by 7.6% in the first quarter. RBO & Co. LLC now owns 280,945 shares of the company’s stock valued at $10,634,000 after acquiring an additional 19,800 shares during the last quarter. Eaton Vance Management purchased a new position in Warner Music Group in the first quarter valued at about $1,173,000. Finally, Fairview Capital Investment Management LLC boosted its stake in Warner Music Group by 59.2% in the first quarter. Fairview Capital Investment Management LLC now owns 9,550 shares of the company’s stock valued at $361,000 after acquiring an additional 3,550 shares during the last quarter. Institutional investors and hedge funds own 22.29% of the company’s stock.

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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