Warner Music Group (NASDAQ:WMG) Upgraded to “Buy” at Wall Street Zen

Warner Music Group (NASDAQ:WMG) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Monday.

Other analysts also recently issued research reports about the company. Morgan Stanley set a $39.00 price target on Warner Music Group in a research report on Friday, May 8th. JPMorgan Chase & Co. raised their price target on Warner Music Group from $40.00 to $43.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. UBS Group upped their target price on Warner Music Group from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Zacks Research cut shares of Warner Music Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Warner Music Group in a research note on Wednesday. Fourteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Warner Music Group currently has an average rating of “Moderate Buy” and a consensus target price of $37.38.

Warner Music Group Stock Performance

Shares of WMG opened at $26.96 on Monday. The business’s 50-day moving average price is $30.43 and its 200-day moving average price is $29.15. The company has a quick ratio of 0.71, a current ratio of 0.73 and a debt-to-equity ratio of 5.62. Warner Music Group has a twelve month low of $23.34 and a twelve month high of $35.42. The stock has a market cap of $14.06 billion, a PE ratio of 31.72, a P/E/G ratio of 0.40 and a beta of 1.27.

Warner Music Group (NASDAQ:WMG) last posted its earnings results on Thursday, May 7th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.14. Warner Music Group had a net margin of 6.34% and a return on equity of 62.01%. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the prior year, the firm posted $0.07 EPS. Warner Music Group’s revenue was up 16.7% on a year-over-year basis. On average, equities analysts forecast that Warner Music Group will post 1.52 EPS for the current fiscal year.

Institutional Trading of Warner Music Group

Several large investors have recently added to or reduced their stakes in the stock. Quarry LP bought a new stake in Warner Music Group during the 4th quarter valued at approximately $40,000. Caitong International Asset Management Co. Ltd raised its position in shares of Warner Music Group by 774.6% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,207 shares of the company’s stock worth $41,000 after acquiring an additional 1,069 shares in the last quarter. Osaic Holdings Inc. raised its position in shares of Warner Music Group by 480.9% in the 2nd quarter. Osaic Holdings Inc. now owns 1,493 shares of the company’s stock worth $41,000 after acquiring an additional 1,236 shares in the last quarter. Parallel Advisors LLC lifted its stake in shares of Warner Music Group by 355.7% in the 4th quarter. Parallel Advisors LLC now owns 1,531 shares of the company’s stock valued at $47,000 after purchasing an additional 1,195 shares during the period. Finally, Quadrant Capital Group LLC lifted its stake in shares of Warner Music Group by 740.0% in the 4th quarter. Quadrant Capital Group LLC now owns 1,890 shares of the company’s stock valued at $58,000 after purchasing an additional 1,665 shares during the period. Institutional investors own 96.88% of the company’s stock.

Warner Music Group Company Profile

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.