Warner Music Group (NASDAQ:WMG – Get Rating) was upgraded by research analysts at Bank of America from an “underperform” rating to a “neutral” rating in a report issued on Wednesday, Marketbeat reports. The firm presently has a $33.00 target price on the stock. Bank of America‘s target price suggests a potential upside of 2.52% from the stock’s previous close.
Other research analysts have also issued reports about the company. The Goldman Sachs Group began coverage on Warner Music Group in a research report on Monday, October 10th. They set a “buy” rating and a $32.00 price target for the company. Barclays lowered their price target on Warner Music Group from $33.00 to $30.00 in a research report on Tuesday, October 11th. Morgan Stanley lowered their price target on Warner Music Group from $34.00 to $31.00 and set an “overweight” rating for the company in a research report on Tuesday, October 11th. Deutsche Bank Aktiengesellschaft lowered their price target on Warner Music Group from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, October 24th. Finally, Guggenheim lowered their price target on Warner Music Group to $30.00 in a research report on Thursday, October 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $36.42.
Warner Music Group Trading Up 3.5 %
Shares of Warner Music Group stock opened at $32.19 on Wednesday. Warner Music Group has a fifty-two week low of $21.57 and a fifty-two week high of $44.64. The stock has a 50 day moving average of $25.69 and a 200 day moving average of $27.06. The firm has a market capitalization of $16.57 billion, a price-to-earnings ratio of 30.37, a PEG ratio of 1.41 and a beta of 1.55. The company has a debt-to-equity ratio of 22.01, a quick ratio of 0.58 and a current ratio of 0.61.
Institutional Trading of Warner Music Group
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. The company 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.
- Get a free copy of the StockNews.com research report on Warner Music Group (WMG)
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