JPMorgan Chase & Co. Issues Positive Forecast for Warner Music Group (NASDAQ:WMG) Stock Price

Warner Music Group (NASDAQ:WMG - Free Report) had its price objective boosted by JPMorgan Chase & Co. from $32.00 to $33.00 in a research note released on Monday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Other equities analysts also recently issued reports about the stock. UBS Group decreased their price target on shares of Warner Music Group from $41.00 to $38.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Wolfe Research raised shares of Warner Music Group to a "strong-buy" rating in a research note on Thursday, May 8th. The Goldman Sachs Group downgraded shares of Warner Music Group from a "buy" rating to a "neutral" rating and decreased their target price for the company from $35.00 to $28.00 in a research note on Monday, May 12th. Citigroup reaffirmed a "buy" rating and set a $34.00 target price (down previously from $35.00) on shares of Warner Music Group in a research note on Thursday, May 29th. Finally, Morgan Stanley decreased their target price 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. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Warner Music Group has a consensus rating of "Hold" and an average price target of $33.68.

Warner Music Group Trading Up 0.1%

NASDAQ WMG traded up $0.03 during trading on Monday, hitting $29.42. 2,452,806 shares of the company's stock traded hands, compared to its average volume of 1,780,171. The stock has a fifty day moving average of $27.42 and a two-hundred day moving average of $30.13. The company has a debt-to-equity ratio of 5.43, a current ratio of 0.66 and a quick ratio of 0.64. Warner Music Group has a 12-month low of $25.56 and a 12-month high of $36.64. The firm has a market cap of $15.34 billion, a P/E ratio of 33.82, a PEG ratio of 1.21 and a beta of 1.24.

Warner Music Group (NASDAQ:WMG - Get Free Report) last posted its quarterly earnings results 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). The business had revenue of $1.48 billion for 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 business's quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.18 earnings per share. As a group, sell-side analysts expect that Warner Music Group will post 1.39 EPS for the current year.

Warner Music Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Tuesday, May 27th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend was Tuesday, May 27th. Warner Music Group's dividend payout ratio is presently 82.76%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Assetmark Inc. boosted its holdings in Warner Music Group by 7,659.8% in the 4th quarter. Assetmark Inc. now owns 95,833 shares of the company's stock worth $2,971,000 after buying an additional 94,598 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings 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 worth $29,560,000 after buying an additional 48,772 shares during the period. GAMMA Investing LLC boosted its holdings in Warner Music Group by 5,272.3% in the 1st quarter. GAMMA Investing LLC now owns 95,304 shares of the company's stock worth $3,040,000 after buying an additional 93,530 shares during the period. DigitalBridge Group Inc. boosted its holdings in Warner Music Group by 29.7% in the 4th quarter. DigitalBridge Group Inc. now owns 896,445 shares of the company's stock worth $27,790,000 after buying an additional 205,529 shares during the period. Finally, Exchange Traded Concepts LLC boosted its holdings in Warner Music Group by 88.0% in the 1st quarter. Exchange Traded Concepts LLC now owns 59,437 shares of the company's stock worth $1,863,000 after buying an additional 27,821 shares during the period. Hedge funds and other 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.