Warner Music Group (NASDAQ:WMG) Price Target Raised to $40.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has raised its price target for Warner Music Group from $36.00 to $40.00, indicating a potential upside of 22% from the previous close.
• The stock has recently shown a modest increase of 0.2%, trading at $32.79 with a significant market cap of $17.09 billion.
• Warner Music Group has a consensus rating of "Moderate Buy" and a consensus price target of $35.24, reflecting positive sentiment among analysts.

Warner Music Group (NASDAQ:WMG - Get Free Report) had its price target upped by equities research analysts at JPMorgan Chase & Co. from $36.00 to $40.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 22.00% from the stock's previous close.

A number of other analysts have also recently weighed in on WMG. Rothschild & Co Redburn upgraded shares of Warner Music Group from a "sell" rating to a "neutral" rating and set a $30.00 price target for the company in a research note on Tuesday, July 15th. Bank of America increased their price target on shares of Warner Music Group from $33.00 to $36.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 1st. The Goldman Sachs Group raised their target price on shares of Warner Music Group from $28.00 to $31.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 12th. Tigress Financial raised their target price on shares of Warner Music Group from $44.00 to $45.00 and gave the stock a "buy" rating in a research note on Wednesday, September 10th. Finally, Cowen restated a "buy" rating on shares of Warner Music Group in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Warner Music Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $35.24.

Warner Music Group Stock Up 0.2%

Shares of NASDAQ WMG traded up $0.07 during mid-day trading on Wednesday, reaching $32.79. The company had a trading volume of 860,151 shares, compared to its average volume of 1,879,653. The company has a current ratio of 0.66, a quick ratio of 0.64 and a debt-to-equity ratio of 5.37. The firm has a 50 day simple moving average of $32.72 and a two-hundred day simple moving average of $30.10. The stock has a market cap of $17.09 billion, a P/E ratio of 57.49, a PEG ratio of 1.05 and a beta of 1.32. Warner Music Group has a 52-week low of $25.56 and a 52-week high of $36.64.

Warner Music Group (NASDAQ:WMG - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.03) earnings per share for the quarter, missing analysts' consensus estimates of $0.27 by ($0.30). The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.59 billion. Warner Music Group had a return on equity of 39.95% and a net margin of 4.59%.The firm's revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 EPS. Sell-side analysts predict that Warner Music Group will post 1.39 earnings per share for the current year.

Institutional Trading of Warner Music Group

Several hedge funds and other institutional investors have recently made changes to their positions in WMG. Independent Franchise Partners LLP increased its holdings in Warner Music Group by 127.0% during the 1st quarter. Independent Franchise Partners LLP now owns 13,378,864 shares of the company's stock valued at $419,427,000 after acquiring an additional 7,483,839 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Warner Music Group by 36.6% during the 1st quarter. JPMorgan Chase & Co. now owns 15,296,700 shares of the company's stock valued at $479,552,000 after acquiring an additional 4,097,688 shares in the last quarter. Vanguard Group Inc. increased its holdings in Warner Music Group by 10.1% during the 1st quarter. Vanguard Group Inc. now owns 14,379,667 shares of the company's stock valued at $450,803,000 after acquiring an additional 1,316,979 shares in the last quarter. Norges Bank purchased a new position in Warner Music Group during the 2nd quarter valued at about $31,485,000. Finally, Darsana Capital Partners LP increased its holdings in Warner Music Group by 14.3% during the 2nd quarter. Darsana Capital Partners LP now owns 8,000,000 shares of the company's stock valued at $217,920,000 after acquiring an additional 1,000,000 shares in the last quarter. Institutional investors and hedge funds 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.

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