Warner Music Group (NASDAQ:WMG) Stock Rating Raised to “Strong-Buy” at Stonex Financia

Warner Music Group (NASDAQ:WMG – Get Free Report) was upgraded by investment analysts at Stonex Financia to a “strong-buy” rating in a report issued on Wednesday, Zacks reports.

A number of other research firms also recently weighed in on WMG. Wall Street Zen downgraded Warner Music Group from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Weiss Ratings cut Warner Music Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, October 2nd. Zacks Research cut Warner Music Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 1st. UBS Group upped their price objective on Warner Music Group from $42.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, October 1st. Finally, Morgan Stanley reissued an “overweight” rating and issued a $36.00 target price on shares of Warner Music Group in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.27.

View Our Latest Analysis on Warner Music Group

Warner Music Group Trading Up 6.2%

Shares of NASDAQ WMG opened at $30.69 on Wednesday. Warner Music Group has a fifty-two week low of $23.34 and a fifty-two week high of $35.42. The firm has a market capitalization of $16.05 billion, a P/E ratio of 24.36, a P/E/G ratio of 0.40 and a beta of 1.40. The company has a debt-to-equity ratio of 4.94, a current ratio of 0.73 and a quick ratio of 0.72. The company’s 50 day simple moving average is $27.71 and its 200 day simple moving average is $28.59.

Warner Music Group (NASDAQ:WMG – Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.17. Warner Music Group had a net margin of 9.20% and a return on equity of 85.50%. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the previous year, the business earned ($0.03) EPS. The business’s quarterly revenue was up 10.4% compared to the same quarter last year. On average, analysts predict that Warner Music Group will post 1.45 EPS for the current year.

Hedge Funds Weigh In On Warner Music Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Darsana Capital Partners LP grew its holdings in shares of Warner Music Group by 0.8% in the 2nd quarter. Darsana Capital Partners LP now owns 11,943,199 shares of the company’s stock valued at $323,302,000 after buying an additional 93,199 shares during the period. Renaissance Technologies LLC raised its stake in Warner Music Group by 88.3% during the 1st quarter. Renaissance Technologies LLC now owns 1,521,800 shares of the company’s stock worth $38,867,000 after buying an additional 713,578 shares during the period. Bank of New York Mellon Corp acquired a new stake in Warner Music Group during the 2nd quarter worth $34,111,000. Principal Financial Group Inc. lifted its holdings in Warner Music Group by 207.5% during the first quarter. Principal Financial Group Inc. now owns 952,316 shares of the company’s stock worth $24,323,000 after acquiring an additional 642,590 shares in the last quarter. Finally, Ardmore Road Asset Management LP lifted its holdings in Warner Music Group by 61.9% during the first quarter. Ardmore Road Asset Management LP now owns 843,836 shares of the company’s stock worth $21,552,000 after acquiring an additional 322,640 shares in the last quarter. Institutional investors and hedge funds own 96.88% of the company’s stock.

About Warner Music Group

(Get Free Report)

Warner Music Group Corp. is a global music entertainment company that operates through two primary businesses: recorded music and music publishing. Its recorded-music operations discover, develop, market and distribute music from artists and songwriters through labels including Warner Records, Atlantic Records and Parlophone, as well as a range of regional and specialty labels.

The company’s music publishing division, Warner Chappell Music, manages copyrights and licenses compositions for use in recordings, films, television, advertising, video games and other media.

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Analyst Recommendations for Warner Music Group (NASDAQ:WMG)

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