Warner Music Group (NASDAQ:WMG) Given New $44.00 Price Target at Tigress Financial

Warner Music Group (NASDAQ:WMG) had its price target reduced by Tigress Financial from $52.00 to $44.00 in a research report released on Thursday morning, MarketBeat.com reports. They currently have a buy rating on the stock.

Other research analysts also recently issued reports about the company. Jefferies Financial Group started coverage on Warner Music Group in a report on Thursday, July 11th. They issued a buy rating and a $38.00 target price on the stock. Wells Fargo & Company reduced their target price on Warner Music Group from $37.00 to $34.00 and set an equal weight rating on the stock in a report on Thursday, August 8th. Evercore ISI reduced their target price on Warner Music Group from $40.00 to $36.00 and set an outperform rating on the stock in a report on Thursday, August 8th. Macquarie reissued a neutral rating and issued a $32.00 target price on shares of Warner Music Group in a report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Warner Music Group from $42.00 to $36.00 and set a buy rating on the stock in a report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Warner Music Group has an average rating of Moderate Buy and a consensus target price of $36.69.

Warner Music Group Stock Up 1.6 %

NASDAQ WMG opened at $29.02 on Thursday. The company has a current ratio of 0.69, a quick ratio of 0.67 and a debt-to-equity ratio of 6.26. The stock’s 50 day moving average is $29.29 and its two-hundred day moving average is $31.27. The company has a market capitalization of $15.03 billion, a price-to-earnings ratio of 29.02, a PEG ratio of 1.74 and a beta of 1.37. Warner Music Group has a 1-year low of $27.06 and a 1-year high of $38.05.

Warner Music Group (NASDAQ:WMG) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.58 billion. Warner Music Group had a return on equity of 101.32% and a net margin of 8.56%. Equities analysts forecast that Warner Music Group will post 1.04 earnings per share for the current fiscal year.

Warner Music Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Tuesday, August 27th were given a dividend of $0.18 per share. This is a boost from Warner Music Group’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $0.72 annualized dividend and a dividend yield of 2.48%. Warner Music Group’s payout ratio is presently 72.00%.

Insider Buying and Selling at Warner Music Group

In other Warner Music Group news, CEO Max Lousada sold 64,047 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $28.25, for a total transaction of $1,809,327.75. Following the completion of the sale, the chief executive officer now owns 2,909,422 shares in the company, valued at approximately $82,191,171.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders sold 628,205 shares of company stock worth $17,628,757. Insiders own 73.35% of the company’s stock.

Institutional Trading of Warner Music Group

A number of large investors have recently made changes to their positions in the company. NEOS Investment Management LLC increased its position in shares of Warner Music Group by 5.0% in the 4th quarter. NEOS Investment Management LLC now owns 7,917 shares of the company’s stock valued at $283,000 after buying an additional 377 shares in the last quarter. Blair William & Co. IL increased its holdings in Warner Music Group by 0.3% during the 1st quarter. Blair William & Co. IL now owns 154,747 shares of the company’s stock worth $5,110,000 after purchasing an additional 405 shares in the last quarter. Benjamin Edwards Inc. increased its holdings in Warner Music Group by 74.5% during the 2nd quarter. Benjamin Edwards Inc. now owns 953 shares of the company’s stock worth $29,000 after purchasing an additional 407 shares in the last quarter. OmniStar Financial Group Inc. increased its holdings in Warner Music Group by 2.2% during the 2nd quarter. OmniStar Financial Group Inc. now owns 19,812 shares of the company’s stock worth $607,000 after purchasing an additional 420 shares in the last quarter. Finally, Sage Rhino Capital LLC increased its holdings in Warner Music Group by 2.8% during the 2nd quarter. Sage Rhino Capital LLC now owns 17,548 shares of the company’s stock worth $538,000 after purchasing an additional 473 shares in the last quarter. Institutional investors own 96.88% of the company’s stock.

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.