Shares of Warner Music Group Corp. (NASDAQ:WMG – Get Free Report) have been given a consensus recommendation of “Moderate Buy” by the sixteen research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and ten have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $37.19.
Several brokerages have commented on WMG. Wells Fargo & Company dropped their target price on shares of Warner Music Group from $37.00 to $34.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Warner Music Group from $42.00 to $36.00 and set a “buy” rating on the stock in a research report on Tuesday. Jefferies Financial Group assumed coverage on Warner Music Group in a research report on Thursday, July 11th. They set a “buy” rating and a $38.00 price objective for the company. Wolfe Research initiated coverage on Warner Music Group in a research report on Friday, July 12th. They issued an “outperform” rating and a $37.00 target price on the stock. Finally, Loop Capital upped their price target on Warner Music Group from $36.00 to $38.00 and gave the stock a “hold” rating in a research report on Thursday, April 18th.
Read Our Latest Report on Warner Music Group
Institutional Investors Weigh In On Warner Music Group
Warner Music Group Trading Up 1.5 %
WMG stock opened at $27.91 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 0.69 and a debt-to-equity ratio of 6.26. Warner Music Group has a twelve month low of $27.06 and a twelve month high of $38.05. The company has a market cap of $14.45 billion, a P/E ratio of 27.91, a PEG ratio of 1.78 and a beta of 1.38. The business has a fifty day moving average of $30.20 and a 200-day moving average of $32.44.
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.
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