Warner Music Group (NASDAQ:WMG) Price Target Raised to $33.00 at JPMorgan Chase & Co.

Warner Music Group (NASDAQ:WMG - Get Free Report) had its target price boosted by stock analysts at JPMorgan Chase & Co. from $32.00 to $33.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective indicates a potential upside of 12.32% from the stock's previous close.

Other analysts have also issued reports about the stock. Morgan Stanley reduced 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 research note on Friday, May 9th. Citigroup reiterated a "buy" rating and issued a $34.00 price objective (down previously from $35.00) on shares of Warner Music Group in a research report on Thursday, May 29th. Barclays decreased their price objective on Warner Music Group from $31.00 to $28.00 and set an "equal weight" rating for the company in a research note on Friday, May 9th. FBN Securities began coverage on Warner Music Group in a report on Friday, March 28th. They issued a "sector perform" rating and a $35.00 price target on the stock. Finally, The Goldman Sachs Group lowered Warner Music Group from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $35.00 to $28.00 in a report on Monday, May 12th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $33.68.

Warner Music Group Trading Down 0.0%

WMG stock traded down $0.01 during trading on Monday, hitting $29.38. The company had a trading volume of 1,166,539 shares, compared to its average volume of 1,775,269. The company has a 50 day simple moving average of $27.43 and a 200-day simple moving average of $30.14. Warner Music Group has a 52-week low of $25.56 and a 52-week high of $36.64. The company has a quick ratio of 0.64, a current ratio of 0.66 and a debt-to-equity ratio of 5.43. The firm has a market capitalization of $15.31 billion, a P/E ratio of 33.78, a PEG ratio of 1.21 and a beta of 1.24.

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

Institutional Investors Weigh In On Warner Music Group

Several institutional investors have recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. raised its holdings in shares of Warner Music Group by 122.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 1,064 shares of the company's stock worth $33,000 after purchasing an additional 586 shares during the period. SBI Securities Co. Ltd. bought a new stake in Warner Music Group during the fourth quarter valued at about $35,000. Banque Cantonale Vaudoise acquired a new position in shares of Warner Music Group in the first quarter valued at $40,000. Aster Capital Management DIFC Ltd bought a new stake in Warner Music Group during the 4th quarter worth approximately $43,000. Finally, UMB Bank n.a. lifted its stake in Warner Music Group by 101.5% in the first quarter. UMB Bank n.a. now owns 1,453 shares of the company's stock valued at $46,000 after buying an additional 732 shares during the period. Hedge funds and other institutional investors own 96.88% of the company's stock.

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.

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