Warner Music Group Corp. (NASDAQ:WMG) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Warner Music Group Corp. (NASDAQ:WMGGet Free Report) have received a consensus recommendation of “Moderate Buy” from the nineteen brokerages that are covering the company, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $35.6875.

A number of research firms have weighed in on WMG. Moffett Nathanson assumed coverage on shares of Warner Music Group in a research report on Tuesday, January 27th. They issued a “buy” rating and a $38.00 price objective for the company. Sanford C. Bernstein reiterated an “outperform” rating on shares of Warner Music Group in a research note on Wednesday, January 14th. Jefferies Financial Group decreased their price objective on shares of Warner Music Group from $38.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, December 11th. UBS Group set a $33.00 price target on shares of Warner Music Group in a research report on Friday, November 21st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Warner Music Group in a report on Monday, December 29th.

Get Our Latest Stock Analysis on WMG

Warner Music Group Price Performance

Shares of NASDAQ WMG opened at $29.05 on Friday. The company has a debt-to-equity ratio of 5.77, a current ratio of 0.66 and a quick ratio of 0.64. 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 $15.18 billion, a price-to-earnings ratio of 50.09, a PEG ratio of 0.69 and a beta of 1.24. The business has a 50-day moving average of $29.52 and a 200-day moving average of $31.10.

Warner Music Group (NASDAQ:WMGGet Free Report) last announced its earnings results on Thursday, February 5th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.07). The company had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Warner Music Group had a net margin of 4.43% and a return on equity of 38.79%. The business’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.45 earnings per share. On average, equities analysts anticipate that Warner Music Group will post 1.39 EPS for the current fiscal year.

Warner Music Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 3rd. Investors of record on Wednesday, February 18th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Wednesday, February 18th. Warner Music Group’s dividend payout ratio is currently 108.57%.

Institutional Trading of Warner Music Group

Several institutional investors have recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans lifted its holdings in Warner Music Group by 6,227.3% in the third quarter. Thrivent Financial for Lutherans now owns 2,173,417 shares of the company’s stock worth $74,027,000 after acquiring an additional 2,139,067 shares during the last quarter. Millennium Management LLC raised its position in shares of Warner Music Group by 178.5% during the 3rd quarter. Millennium Management LLC now owns 3,183,654 shares of the company’s stock worth $108,435,000 after purchasing an additional 2,040,425 shares during the period. Vanguard Group Inc. raised its position in shares of Warner Music Group by 12.2% during the 3rd quarter. Vanguard Group Inc. now owns 16,914,577 shares of the company’s stock worth $576,110,000 after purchasing an additional 1,837,801 shares during the period. Barclays PLC boosted its position in Warner Music Group by 5,055.5% during the 3rd quarter. Barclays PLC now owns 1,860,687 shares of the company’s stock valued at $63,375,000 after purchasing an additional 1,824,596 shares during the period. Finally, UBS Group AG lifted its stake in Warner Music Group by 112.8% in the third quarter. UBS Group AG now owns 2,226,151 shares of the company’s stock valued at $75,823,000 after buying an additional 1,180,256 shares during the last quarter. Institutional investors own 96.88% of the company’s stock.

Warner Music Group News Summary

Here are the key news stories impacting Warner Music Group this week:

About Warner Music Group

(Get Free Report)

Warner Music Group is a major global music company that operates across recorded music and music publishing. Its recorded-music business comprises a portfolio of well-known labels—including Atlantic, Warner Records and Parlophone—as well as distribution and artist-services operations that support both established and emerging artists. The company’s publishing arm, Warner Chappell Music, manages songwriting catalogs and administers rights for compositions across multiple media, providing licensing for film, television, advertising and other commercial uses.

WMG’s activities span the full music value chain: signing and developing artists, producing and marketing recordings, distributing music through physical channels and streaming platforms, and monetizing rights through licensing, synchronization and neighboring-rights collection.

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Analyst Recommendations for Warner Music Group (NASDAQ:WMG)

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