In a report released today, Kannan Venkateshwar from Barclays maintained a Hold rating on Warner Music Group (WMG – Research Report), with a price target of $35.00. The company’s shares closed yesterday at $35.20.
Venkateshwar covers the Communication Services sector, focusing on stocks such as Rogers Communication, Warner Bros, and AT&T. According to TipRanks, Venkateshwar has an average return of 8.1% and a 56.50% success rate on recommended stocks.
Warner Music Group has an analyst consensus of Moderate Buy, with a price target consensus of $37.71.
Based on Warner Music Group’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.75 billion and a net profit of $159 million. In comparison, last year the company earned a revenue of $1.49 billion and had a net profit of $122 million
Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of WMG in relation to earlier this year.
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Warner Music Group (WMG) Company Description:
With about $3.5 billion in revenue, Warner Music Group is one of the largest music companies in the world. More than 80% of Warner’s revenue comes from recorded music, while the remainder is generated from music publishing.
Read More on WMG:
- Warner Music price target lowered to $45 from $46 at Guggenheim
- Warner Music expands partnership with. makes strategic investment in GMJ
- Spotify rolling out music videos in Beta to Premium Spotify users
- Warner Music confirms interest in Believe
- Warner Music Group Confirms Its Indication of Interest in Relation to French Digital Music Company Believe SA
