Loop Capital Increases Warner Music Group (NASDAQ:WMG) Price Target to $38.00

Warner Music Group (NASDAQ:WMG) had its price target boosted by analysts at Loop Capital from $36.00 to $38.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “hold” rating on the stock. Loop Capital’s price target indicates a potential upside of 15.26% from the stock’s current price.

WMG has been the topic of a number of other research reports. Redburn Atlantic raised shares of Warner Music Group from a “sell” rating to a “neutral” rating and upped their target price for the company from $17.00 to $21.00 in a research note on Monday, February 5th. Guggenheim decreased their price objective on shares of Warner Music Group from $46.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Warner Music Group presently has an average rating of “Moderate Buy” and an average price target of $36.88.

Warner Music Group Stock Performance

NASDAQ WMG opened at $32.97 on Thursday. The stock has a market cap of $17.07 billion, a P/E ratio of 37.47, a PEG ratio of 2.09 and a beta of 1.46. The company’s 50-day simple moving average is $34.12 and its 200 day simple moving average is $34.01. Warner Music Group has a twelve month low of $23.62 and a twelve month high of $38.05. The company has a quick ratio of 0.67, a current ratio of 0.70 and a debt-to-equity ratio of 6.50.

Warner Music Group (NASDAQ:WMG) last posted its earnings results on Wednesday, February 7th. The company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.13). The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.68 billion. Warner Music Group had a net margin of 7.42% and a return on equity of 128.86%. As a group, research analysts forecast that Warner Music Group will post 0.99 earnings per share for the current fiscal year.

Institutional Trading of Warner Music Group

Several hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC acquired a new position in Warner Music Group in the first quarter valued at approximately $26,000. Fifth Third Bancorp acquired a new position in Warner Music Group in the fourth quarter valued at approximately $38,000. Mather Group LLC. acquired a new position in Warner Music Group in the first quarter valued at approximately $45,000. SRS Capital Advisors Inc. acquired a new position in Warner Music Group in the fourth quarter valued at approximately $46,000. Finally, Ossiam lifted its holdings in Warner Music Group by 31.1% in the first quarter. Ossiam now owns 1,787 shares of the company’s stock valued at $60,000 after buying an additional 424 shares during the period. 96.88% of the stock is owned by institutional investors.

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.