Warner Music Group (NASDAQ:WMG) Price Target Raised to $38.00

Warner Music Group (NASDAQ:WMG) had its price objective raised by equities researchers at Loop Capital from $36.00 to $38.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Loop Capital’s target price indicates a potential upside of 15.26% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. Guggenheim decreased their target price on shares of Warner Music Group from $46.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Redburn Atlantic raised shares of Warner Music Group from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $17.00 to $21.00 in a research note on Monday, February 5th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $36.88.

Warner Music Group Trading Down 0.4 %

Shares of WMG opened at $32.97 on Thursday. The company has a debt-to-equity ratio of 6.50, a quick ratio of 0.67 and a current ratio of 0.70. Warner Music Group has a fifty-two week low of $23.62 and a fifty-two week high of $38.05. The firm has a 50 day moving average price of $34.12 and a 200-day moving average price of $34.01. The firm has a market cap of $17.07 billion, a price-to-earnings ratio of 37.47, a PEG ratio of 2.09 and a beta of 1.46.

Warner Music Group (NASDAQ:WMG) last issued its earnings results on Wednesday, February 7th. The company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.13). Warner Music Group had a return on equity of 128.86% and a net margin of 7.42%. The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.68 billion. As a group, equities research analysts forecast that Warner Music Group will post 0.99 earnings per share for the current year.

Institutional Trading of Warner Music Group

A number of hedge funds have recently modified their holdings of the business. NEOS Investment Management LLC boosted its holdings in shares of Warner Music Group by 5.0% during 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. Ossiam boosted its holdings in shares of Warner Music Group by 31.1% during the 1st quarter. Ossiam now owns 1,787 shares of the company’s stock valued at $60,000 after buying an additional 424 shares in the last quarter. Royal Bank of Canada boosted its stake in Warner Music Group by 3.1% in the 2nd quarter. Royal Bank of Canada now owns 16,790 shares of the company’s stock worth $439,000 after purchasing an additional 504 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in Warner Music Group by 6.3% in the 4th quarter. Exchange Traded Concepts LLC now owns 9,224 shares of the company’s stock worth $330,000 after purchasing an additional 545 shares in the last quarter. Finally, Neuberger Berman Group LLC boosted its stake in Warner Music Group by 0.3% in the 3rd quarter. Neuberger Berman Group LLC now owns 178,664 shares of the company’s stock worth $4,147,000 after purchasing an additional 579 shares in the last quarter. Institutional investors own 96.88% of the company’s stock.

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.