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

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

Several other brokerages also recently weighed in on WMG. Guggenheim cut their price target on shares of Warner Music Group from $46.00 to $45.00 and set a buy rating on the stock in a report on Friday, April 5th. Redburn Atlantic upgraded shares of Warner Music Group from a sell rating to a neutral rating and increased their price objective for the stock from $17.00 to $21.00 in a research note on Monday, February 5th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $36.88.

Warner Music Group Price Performance

NASDAQ WMG opened at $33.11 on Thursday. The company has a market cap of $17.15 billion, a price-to-earnings ratio of 37.63, a PEG ratio of 2.09 and a beta of 1.46. The company has a debt-to-equity ratio of 6.50, a current ratio of 0.70 and a quick ratio of 0.67. The stock’s fifty day moving average price is $34.17 and its 200 day moving average price is $34.00. Warner Music Group has a 1 year low of $23.62 and a 1 year high of $38.05.

Warner Music Group (NASDAQ:WMG) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.13). Warner Music Group had a net margin of 7.42% and a return on equity of 128.86%. The firm had revenue of $1.75 billion for 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.

Warner Music Group Dividend Announcement

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

Institutional Trading of Warner Music Group

Several institutional investors have recently bought and sold shares of WMG. Acadian Asset Management LLC purchased a new position in shares of Warner Music Group during the 1st quarter valued at approximately $26,000. Fifth Third Bancorp purchased a new position in Warner Music Group during the fourth quarter valued at $38,000. Mather Group LLC. purchased a new position in Warner Music Group during the first quarter valued at $45,000. SRS Capital Advisors Inc. acquired a new stake in shares of Warner Music Group in the fourth quarter valued at about $46,000. Finally, Ossiam increased its stake in shares of Warner Music Group by 31.1% during the first quarter. Ossiam now owns 1,787 shares of the company’s stock worth $60,000 after purchasing an additional 424 shares in the last quarter. 96.88% of the stock is owned by institutional investors and hedge funds.

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.