Warner Music Group (NASDAQ:WMG) Price Target Increased to $38.00 by Analysts at Loop Capital

Warner Music Group (NASDAQ:WMG) had its price objective lifted by Loop Capital from $36.00 to $38.00 in a research report released on Thursday morning, Benzinga reports. The brokerage currently has a hold rating on the stock.

Several other brokerages also recently issued reports on WMG. Guggenheim reduced their price target on shares of Warner Music Group from $46.00 to $45.00 and set a buy rating for the company in a report on Friday, April 5th. Redburn Atlantic raised shares of Warner Music Group from a sell rating to a neutral rating and boosted their target price for the company from $17.00 to $21.00 in a research note on Monday, February 5th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Warner Music Group has a consensus rating of Moderate Buy and a consensus target price of $36.88.

Warner Music Group Stock Performance

Shares of NASDAQ WMG opened at $33.11 on Thursday. The company has a quick ratio of 0.67, a current ratio of 0.70 and a debt-to-equity ratio of 6.50. The firm’s 50-day moving average price is $34.17 and its two-hundred day moving average price is $34.00. Warner Music Group has a 52-week low of $23.62 and a 52-week high of $38.05. The stock has a market capitalization of $17.15 billion, a P/E ratio of 37.63, a P/E/G ratio of 2.09 and a beta of 1.46.

Warner Music Group (NASDAQ:WMG) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $0.30 earnings per share (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 company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.68 billion. As a group, sell-side analysts forecast that Warner Music Group will post 0.99 earnings per share for the current year.

Warner Music Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Thursday, February 22nd were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date was Wednesday, February 21st. Warner Music Group’s payout ratio is currently 77.27%.

Institutional Trading of Warner Music Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. NEOS Investment Management LLC grew its stake 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 worth $283,000 after purchasing an additional 377 shares during the last quarter. Ossiam increased its holdings in shares of Warner Music Group by 31.1% in the first 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 lifted its position in shares of Warner Music Group by 3.1% during the 2nd quarter. Royal Bank of Canada now owns 16,790 shares of the company’s stock valued at $439,000 after acquiring an additional 504 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Warner Music Group by 6.3% during the 4th quarter. Exchange Traded Concepts LLC now owns 9,224 shares of the company’s stock worth $330,000 after acquiring an additional 545 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its holdings in shares of 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 acquiring an additional 579 shares during 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.