Warner Music Group Corp. (NASDAQ:WMG) Receives $36.88 Average Price Target from Brokerages

Warner Music Group Corp. (NASDAQ:WMG) has received a consensus rating of “Moderate Buy” from the seventeen brokerages that are currently covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $36.88.

WMG has been the topic of a number of research analyst reports. Guggenheim reduced 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 research note 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 stock from $17.00 to $21.00 in a research note on Monday, February 5th. Finally, Loop Capital increased their price target on Warner Music Group from $36.00 to $38.00 and gave the company a “hold” rating in a research note on Thursday, April 18th.

Institutional Trading of Warner Music Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pullen Investment Management LLC bought a new stake in shares of Warner Music Group during the first quarter valued at approximately $1,003,000. Capstone Investment Advisors LLC boosted its position in shares of Warner Music Group by 8.5% during the first quarter. Capstone Investment Advisors LLC now owns 12,516 shares of the company’s stock valued at $413,000 after buying an additional 984 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in shares of Warner Music Group by 13.7% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 83,762 shares of the company’s stock valued at $2,766,000 after buying an additional 10,070 shares during the last quarter. Hahn Capital Management LLC grew its holdings in Warner Music Group by 28.5% during the first quarter. Hahn Capital Management LLC now owns 174,558 shares of the company’s stock worth $5,764,000 after buying an additional 38,675 shares in the last quarter. Finally, Sage Rhino Capital LLC purchased a new stake in Warner Music Group in the 1st quarter valued at $564,000. 96.88% of the stock is owned by institutional investors.

Warner Music Group Stock Up 2.8 %

NASDAQ WMG opened at $34.14 on Monday. The business has a fifty day moving average price of $33.57 and a two-hundred day moving average price of $34.06. The stock has a market capitalization of $17.68 billion, a PE ratio of 38.80, a PEG ratio of 2.15 and a beta of 1.43. Warner Music Group has a fifty-two week low of $23.62 and a fifty-two week high of $38.05. The company has a debt-to-equity ratio of 6.50, a current ratio of 0.70 and a quick ratio of 0.67.

Warner Music Group (NASDAQ:WMG) last announced its quarterly earnings data 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 return on equity of 128.86% and a net margin of 7.42%. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.68 billion. Equities analysts expect that Warner Music Group will post 0.99 earnings per share for the current fiscal year.

Warner Music Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Thursday, February 22nd were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.99%. The ex-dividend date was Wednesday, February 21st. Warner Music Group’s dividend payout ratio is presently 77.27%.

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.