Sanford C. Bernstein Forecasts Strong Price Appreciation for Warner Music Group (NASDAQ:WMG) Stock

Warner Music Group (NASDAQ:WMG - Get Free Report) had its target price upped by stock analysts at Sanford C. Bernstein from $32.00 to $34.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Sanford C. Bernstein's target price points to a potential upside of 15.69% from the company's current price.

A number of other equities analysts also recently issued reports on WMG. Morgan Stanley cut their price target on shares of Warner Music Group from $32.00 to $31.00 and set an "equal weight" rating for the company in a report on Friday, May 9th. Wolfe Research upgraded shares of Warner Music Group to a "strong-buy" rating in a research report on Thursday, May 8th. Citigroup restated a "buy" rating and issued a $34.00 price target (down previously from $35.00) on shares of Warner Music Group in a report on Thursday, May 29th. FBN Securities initiated coverage on Warner Music Group in a research note on Friday, March 28th. They issued a "sector perform" rating and a $35.00 price objective for the company. Finally, Guggenheim decreased their target price on Warner Music Group from $40.00 to $37.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $34.05.

Warner Music Group Stock Up 0.8%

NASDAQ:WMG traded up $0.24 during midday trading on Thursday, hitting $29.39. 1,275,863 shares of the company were exchanged, compared to its average volume of 1,777,470. The company has a current ratio of 0.66, a quick ratio of 0.64 and a debt-to-equity ratio of 5.43. Warner Music Group has a fifty-two week low of $25.56 and a fifty-two week high of $36.64. The company has a market capitalization of $15.32 billion, a PE ratio of 33.78, a price-to-earnings-growth ratio of 1.21 and a beta of 1.24. The company has a fifty day simple moving average of $27.43 and a 200 day simple moving average of $30.14.

Warner Music Group (NASDAQ:WMG - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.21). The business had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.52 billion. Warner Music Group had a net margin of 7.14% and a return on equity of 64.64%. The firm's revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter last year, the company earned $0.18 EPS. As a group, equities analysts anticipate that Warner Music Group will post 1.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp lifted its position in Warner Music Group by 62.1% during the 4th quarter. Bank of New York Mellon Corp now owns 1,140,665 shares of the company's stock worth $35,361,000 after buying an additional 437,077 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Warner Music Group in the 4th quarter worth approximately $35,000. Charles Schwab Investment Management Inc. boosted its position in Warner Music Group by 5.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 953,549 shares of the company's stock valued at $29,560,000 after buying an additional 48,772 shares during the last quarter. Assetmark Inc. boosted its position in Warner Music Group by 7,659.8% in the 4th quarter. Assetmark Inc. now owns 95,833 shares of the company's stock valued at $2,971,000 after buying an additional 94,598 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Warner Music Group in the 4th quarter valued at $10,881,000. 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.