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

Warner Music Group (NASDAQ:WMG - Get Free Report) had its target price boosted by equities research analysts at Loop Capital from $36.00 to $38.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a "hold" rating on the stock. Loop Capital's target price suggests a potential upside of 14.77% from the company's current price.

Several other analysts also recently commented on the stock. 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. Redburn Atlantic raised shares of Warner Music Group from a "sell" rating to a "neutral" rating and raised their price objective for the stock from $17.00 to $21.00 in a research report on Monday, February 5th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $36.88.

Warner Music Group Trading Down 0.6 %

Warner Music Group stock traded down $0.19 during mid-day trading on Thursday, hitting $33.11. 1,666,797 shares of the stock were exchanged, compared to its average volume of 1,467,862. The company has a quick ratio of 0.67, a current ratio of 0.70 and a debt-to-equity ratio of 6.50. Warner Music Group has a 12 month low of $23.62 and a 12 month high of $38.05. The firm's fifty day simple moving average is $34.17 and its two-hundred day simple moving average is $34.00. The stock has a market capitalization of $17.15 billion, a price-to-earnings ratio of 37.63, a PEG ratio of 2.11 and a beta of 1.46.

Warner Music Group (NASDAQ:WMG - Get Free Report) last released 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 firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.68 billion. Analysts forecast that Warner Music Group will post 0.99 EPS for the current year.

Hedge Funds Weigh In On Warner Music Group

Hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC purchased a new position in Warner Music Group during the 1st quarter worth $26,000. Fifth Third Bancorp bought a new stake in shares of Warner Music Group during the 4th quarter worth $38,000. Mather Group LLC. bought a new stake in shares of Warner Music Group during the 1st quarter worth $45,000. SRS Capital Advisors Inc. bought a new stake in shares of Warner Music Group during the 4th quarter worth $46,000. Finally, Ossiam raised its stake in shares of Warner Music Group by 31.1% during the 1st quarter. Ossiam now owns 1,787 shares of the company's stock worth $60,000 after purchasing an additional 424 shares during the period. 96.88% of the stock is owned by hedge funds and other institutional investors.

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.