Barclays Forecasts Strong Price Appreciation for Warner Music Group (NASDAQ:WMG) Stock

Warner Music Group (NASDAQ:WMG - Free Report) had its target price increased by Barclays from $28.00 to $30.00 in a research report report published on Wednesday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other research analysts also recently issued reports on WMG. JPMorgan Chase & Co. lifted their price target on shares of Warner Music Group from $32.00 to $33.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Sanford C. Bernstein lifted their price objective on shares of Warner Music Group from $32.00 to $34.00 and gave the stock an "outperform" rating in a research report on Thursday, July 3rd. UBS Group lowered their target price 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. FBN Securities assumed coverage on Warner Music Group in a research note on Friday, March 28th. They issued a "sector perform" rating and a $35.00 price target on the stock. Finally, Guggenheim decreased their price target on Warner Music Group from $40.00 to $37.00 and set a "buy" rating for the company in a report on Friday, May 9th. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Warner Music Group has a consensus rating of "Moderate Buy" and an average price target of $34.35.

Warner Music Group Stock Down 0.5%

Shares of NASDAQ WMG traded down $0.16 during mid-day trading on Wednesday, hitting $29.77. The company had a trading volume of 1,222,243 shares, compared to its average volume of 1,777,474. The company has a market capitalization of $15.52 billion, a PE ratio of 34.22, a price-to-earnings-growth ratio of 1.14 and a beta of 1.24. The business's 50-day simple moving average is $27.38 and its 200 day simple moving average is $30.11. Warner Music Group has a 1-year low of $25.56 and a 1-year high of $36.64. 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 (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 analysts' consensus estimates 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 period in the prior year, the business earned $0.18 EPS. Warner Music Group's revenue for the quarter was down .7% on a year-over-year basis. On average, analysts predict that Warner Music Group will post 1.39 earnings per share for the current year.

Warner Music Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Tuesday, May 27th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend was Tuesday, May 27th. Warner Music Group's dividend payout ratio is currently 82.76%.

Hedge Funds Weigh In On Warner Music Group

A number of hedge funds and other institutional investors have recently made changes to their positions in WMG. Itau Unibanco Holding S.A. grew its stake 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 valued at $33,000 after purchasing an additional 586 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Warner Music Group during the fourth quarter worth $35,000. Banque Cantonale Vaudoise purchased a new position in Warner Music Group in the 1st quarter valued at $40,000. Aster Capital Management DIFC Ltd acquired a new position in Warner Music Group in the 4th quarter valued at $43,000. Finally, UMB Bank n.a. increased its stake in Warner Music Group by 101.5% in the 1st 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.

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.