Warner Music Group (NASDAQ:WMG) Stock Price Expected to Rise, Tigress Financial Analyst Says

Warner Music Group (NASDAQ:WMG) had its price objective hoisted by equities research analysts at Tigress Financial from $44.00 to $45.00 in a research note issued to investors on Wednesday, Marketbeat.com reports. The firm presently has a “buy” rating on the stock. Tigress Financial’s price target suggests a potential upside of 31.43% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Cowen reaffirmed a “buy” rating on shares of Warner Music Group in a report on Thursday, August 7th. JPMorgan Chase & Co. increased their price objective on shares of Warner Music Group from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Monday, July 7th. The Goldman Sachs Group increased their price objective on shares of Warner Music Group from $28.00 to $31.00 and gave the company a “neutral” rating in a report on Tuesday, August 12th. Bank of America raised shares of Warner Music Group from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $28.00 to $33.00 in a report on Wednesday, July 9th. Finally, Sanford C. Bernstein increased their price objective on shares of Warner Music Group from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Thursday, July 3rd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $34.65.

Warner Music Group Stock Performance

WMG opened at $34.24 on Wednesday. The company has a quick ratio of 0.64, a current ratio of 0.66 and a debt-to-equity ratio of 5.37. The company has a market cap of $17.85 billion, a price-to-earnings ratio of 60.07, a PEG ratio of 1.68 and a beta of 1.31. Warner Music Group has a 52-week low of $25.56 and a 52-week high of $36.64. The firm’s fifty day simple moving average is $31.63 and its two-hundred day simple moving average is $30.10.

Warner Music Group (NASDAQ:WMG) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.30). The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.59 billion. Warner Music Group had a net margin of 4.59% and a return on equity of 39.95%. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.27 earnings per share. Equities analysts anticipate that Warner Music Group will post 1.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Banque Cantonale Vaudoise purchased a new position in Warner Music Group during the first quarter worth about $40,000. UMB Bank n.a. raised its stake in Warner Music Group by 101.5% during the first quarter. UMB Bank n.a. now owns 1,453 shares of the company’s stock worth $46,000 after purchasing an additional 732 shares during the period. Osaic Holdings Inc. raised its stake in Warner Music Group by 480.9% during the second quarter. Osaic Holdings Inc. now owns 1,493 shares of the company’s stock worth $41,000 after purchasing an additional 1,236 shares during the period. State of Wyoming purchased a new position in Warner Music Group during the fourth quarter worth about $47,000. Finally, Quarry LP purchased a new position in Warner Music Group during the first quarter worth about $54,000. 96.88% of the stock is currently owned by institutional investors and hedge funds.

About Warner Music Group

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.