Warner Music Group’s (WMG) “Sell” Rating Reaffirmed at Redburn Atlantic

Warner Music Group (NASDAQ:WMGGet Free Report)‘s stock had its “sell” rating restated by equities research analysts at Redburn Atlantic in a report issued on Wednesday, Benzinga reports. They presently have a $23.00 target price on the stock. Redburn Atlantic’s price objective indicates a potential downside of 24.19% from the stock’s current price.

A number of other equities analysts also recently weighed in on WMG. Loop Capital upped their target price on Warner Music Group from $36.00 to $38.00 and gave the company a “hold” rating in a report on Thursday, April 18th. Morgan Stanley initiated coverage on Warner Music Group in a report on Monday, May 6th. They issued an “overweight” rating and a $43.00 target price on the stock. Finally, Guggenheim dropped their target price on Warner Music Group from $46.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.00.

View Our Latest Stock Analysis on WMG

Warner Music Group Price Performance

NASDAQ WMG opened at $30.34 on Wednesday. The stock’s 50-day moving average price is $31.24 and its two-hundred day moving average price is $33.43. The company has a current ratio of 0.69, a quick ratio of 0.67 and a debt-to-equity ratio of 6.81. The company has a market cap of $15.71 billion, a PE ratio of 30.34, a PEG ratio of 1.94 and a beta of 1.38. Warner Music Group has a 1 year low of $27.67 and a 1 year high of $38.05.

Warner Music Group (NASDAQ:WMGGet Free Report) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.07. The firm had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.48 billion. Warner Music Group had a return on equity of 120.42% and a net margin of 8.28%. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.06 EPS. On average, analysts predict that Warner Music Group will post 1 EPS for the current year.

Institutional Investors Weigh In On Warner Music Group

Several hedge funds have recently modified their holdings of the business. DekaBank Deutsche Girozentrale raised its stake in Warner Music Group by 40.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 68,712 shares of the company’s stock worth $2,270,000 after acquiring an additional 19,832 shares in the last quarter. Tidal Investments LLC bought a new position in Warner Music Group in the first quarter valued at about $537,000. Jacobs Levy Equity Management Inc. boosted its holdings in Warner Music Group by 1.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 175,712 shares of the company’s stock valued at $5,802,000 after acquiring an additional 2,161 shares during the last quarter. Bayesian Capital Management LP bought a new position in Warner Music Group during the first quarter worth about $759,000. Finally, Aristides Capital LLC bought a new position in Warner Music Group during the first quarter worth about $229,000. 96.88% of the stock is owned by institutional investors.

About Warner Music Group

(Get Free Report)

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.

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