Brokerages Set Warner Music Group Corp. (NASDAQ:WMG) PT at $38.12

Shares of Warner Music Group Corp. (NASDAQ:WMG) have been assigned a consensus rating of “Moderate Buy” from the seventeen brokerages that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and twelve have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $38.12.

WMG has been the topic of a number of research reports. Wolfe Research assumed coverage on shares of Warner Music Group in a research note on Friday, July 12th. They issued an “outperform” rating and a $37.00 price target on the stock. Morgan Stanley assumed coverage on Warner Music Group in a research note on Monday, May 6th. They set an “overweight” rating and a $43.00 price target for the company. Jefferies Financial Group started coverage on Warner Music Group in a research note on Thursday, July 11th. They issued a “buy” rating and a $38.00 price target for the company. Loop Capital raised their price objective on shares of Warner Music Group from $36.00 to $38.00 and gave the company a “hold” rating in a research report on Thursday, April 18th. Finally, Redburn Atlantic reissued a “sell” rating and issued a $23.00 target price (up from $21.00) on shares of Warner Music Group in a research report on Wednesday, July 10th.

Warner Music Group Trading Down 1.1 %

Shares of NASDAQ WMG opened at $31.70 on Friday. The firm has a market capitalization of $16.42 billion, a PE ratio of 31.70, a PEG ratio of 2.00 and a beta of 1.38. Warner Music Group has a one year low of $29.07 and a one year high of $38.05. The company has a current ratio of 0.69, a quick ratio of 0.67 and a debt-to-equity ratio of 6.81. The business has a 50-day moving average price of $30.82 and a two-hundred day moving average price of $33.25.

Warner Music Group (NASDAQ:WMG) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.07. Warner Music Group had a net margin of 8.28% and a return on equity of 120.42%. The firm had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the firm posted $0.06 earnings per share. The firm’s revenue was up 6.8% on a year-over-year basis. As a group, analysts predict that Warner Music Group will post 1 earnings per share for the current fiscal year.

Warner Music Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Thursday, May 23rd were paid a dividend of $0.17 per share. The ex-dividend date was Wednesday, May 22nd. This represents a $0.68 annualized dividend and a yield of 2.15%. Warner Music Group’s payout ratio is 68.00%.

Institutional Investors Weigh In On Warner Music Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. ORG Partners LLC lifted its stake in shares of Warner Music Group by 5,790.5% in the second quarter. ORG Partners LLC now owns 1,237 shares of the company’s stock valued at $37,000 after buying an additional 1,216 shares during the period. Fifth Third Bancorp acquired a new position in Warner Music Group in the 4th quarter valued at approximately $38,000. Mather Group LLC. bought a new stake in shares of Warner Music Group in the 1st quarter worth approximately $45,000. SRS Capital Advisors Inc. acquired a new stake in shares of Warner Music Group during the 4th quarter worth approximately $46,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Warner Music Group during the 1st quarter worth approximately $82,000. Institutional investors and hedge funds 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.