Weiss Ratings Reaffirms “Hold (C-)” Rating for Warner Music Group (NASDAQ:WMG)

Warner Music Group (NASDAQ:WMG)‘s stock had its “hold (c-)” rating reaffirmed by research analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Several other research firms have also recently issued reports on WMG. Citigroup raised their price objective on Warner Music Group from $33.00 to $41.00 and gave the stock a “buy” rating in a report on Tuesday, September 9th. Redburn Atlantic upgraded Warner Music Group from a “strong sell” rating to a “hold” rating and set a $30.00 target price on the stock in a report on Tuesday, July 15th. JPMorgan Chase & Co. lifted their target price on Warner Music Group from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Monday, July 7th. Rothschild & Co Redburn upgraded Warner Music Group from a “sell” rating to a “neutral” rating and set a $30.00 target price on the stock in a report on Tuesday, July 15th. Finally, Cowen reiterated a “buy” rating on shares of Warner Music Group in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.24.

Warner Music Group Stock Performance

NASDAQ WMG opened at $32.10 on Wednesday. Warner Music Group has a 1-year low of $25.56 and a 1-year high of $36.64. The company has a market capitalization of $16.73 billion, a P/E ratio of 56.32, a PEG ratio of 1.02 and a beta of 1.32. The business has a 50 day moving average price of $32.83 and a 200 day moving average price of $30.12. The company has a debt-to-equity ratio of 5.37, a current ratio of 0.66 and a quick ratio of 0.64.

Warner Music Group (NASDAQ:WMG) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.30). The firm had revenue of $1.69 billion during 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. Sell-side analysts expect that Warner Music Group will post 1.39 EPS for the current fiscal year.

Institutional Trading of Warner Music Group

Several hedge funds and other institutional investors have recently bought and sold shares of WMG. GAMMA Investing LLC grew its holdings in shares of Warner Music Group by 85.7% during the third quarter. GAMMA Investing LLC now owns 1,107 shares of the company’s stock valued at $38,000 after purchasing an additional 511 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in shares of Warner Music Group during the first quarter valued at approximately $40,000. UMB Bank n.a. grew its holdings in shares of Warner Music Group by 101.5% during the first quarter. UMB Bank n.a. now owns 1,453 shares of the company’s stock valued at $46,000 after purchasing an additional 732 shares during the last quarter. Osaic Holdings Inc. grew its holdings in shares of Warner Music Group by 480.9% during the second quarter. Osaic Holdings Inc. now owns 1,493 shares of the company’s stock valued at $41,000 after purchasing an additional 1,236 shares during the last quarter. Finally, Quarry LP bought a new position in shares of Warner Music Group during the first quarter valued at approximately $54,000. 96.88% of the stock is owned by institutional investors.

Warner Music Group Company Profile

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.