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

Warner Music Group (NASDAQ:WMG) had its price target upped by equities research analysts at Loop Capital from $36.00 to $38.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Loop Capital’s price target indicates a potential upside of 13.84% from the stock’s current price.

WMG has been the subject of a number of other research reports. Redburn Atlantic upgraded shares of Warner Music Group from a “sell” rating to a “neutral” rating and raised their price objective for the company from $17.00 to $21.00 in a research report on Monday, February 5th. Guggenheim reduced their price objective on shares of Warner Music Group from $46.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, April 5th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Warner Music Group currently has an average rating of “Moderate Buy” and an average target price of $36.88.

Warner Music Group Stock Performance

Shares of WMG traded up $0.08 during mid-day trading on Thursday, hitting $33.38. 805,577 shares of the company’s stock were exchanged, compared to its average volume of 1,456,089. 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 market capitalization of $17.29 billion, a P/E ratio of 38.01, a P/E/G ratio of 2.11 and a beta of 1.46. The business’s 50 day moving average is $34.22 and its two-hundred day moving average is $34.01. The company has a current ratio of 0.70, a quick ratio of 0.67 and a debt-to-equity ratio of 6.50.

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

Institutional Trading of Warner Music Group

Several hedge funds and other institutional investors have recently bought and sold shares of WMG. FIL Ltd grew its stake in shares of Warner Music Group by 85.6% during the 4th quarter. FIL Ltd now owns 5,198,892 shares of the company’s stock valued at $186,068,000 after buying an additional 2,397,232 shares during the period. AKO Capital LLP grew its stake in shares of Warner Music Group by 83.2% during the 4th quarter. AKO Capital LLP now owns 3,729,554 shares of the company’s stock valued at $133,481,000 after buying an additional 1,693,259 shares during the period. Capital World Investors lifted its holdings in shares of Warner Music Group by 21.5% during the 4th quarter. Capital World Investors now owns 9,319,510 shares of the company’s stock valued at $333,545,000 after acquiring an additional 1,651,571 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Warner Music Group by 18.4% during the 1st quarter. Vanguard Group Inc. now owns 10,103,689 shares of the company’s stock valued at $382,425,000 after acquiring an additional 1,567,866 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in shares of Warner Music Group by 87.1% during the 4th quarter. Point72 Asset Management L.P. now owns 2,713,747 shares of the company’s stock valued at $97,125,000 after acquiring an additional 1,263,690 shares in the last quarter. 96.88% of the stock is owned by hedge funds and other institutional investors.

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.