Brokerages Set Warner Music Group Corp. (NASDAQ:WMG) Price Target at $35.67

Warner Music Group Corp. (NASDAQ:WMG - Get Free Report) has been given an average rating of "Hold" by the fifteen brokerages that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, five have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $35.67.

Several analysts have weighed in on the stock. Barclays dropped their target price on shares of Warner Music Group from $32.00 to $31.00 and set an "equal weight" rating on the stock in a research report on Friday, November 22nd. Bank of America reissued an "underperform" rating and issued a $30.00 target price (down from $33.00) on shares of Warner Music Group in a research report on Friday, October 4th. Macquarie reissued a "neutral" rating and issued a $30.00 target price on shares of Warner Music Group in a research report on Friday, November 22nd. Deutsche Bank Aktiengesellschaft cut their target price on Warner Music Group from $42.00 to $36.00 and set a "buy" rating on the stock in a research report on Tuesday, August 13th. Finally, Citigroup upped their target price on Warner Music Group from $31.00 to $34.00 and gave the company a "neutral" rating in a research report on Friday, November 29th.

Institutional Investors Weigh In On Warner Music Group

Hedge funds have recently modified their holdings of the company. Benjamin Edwards Inc. boosted its stake in shares of Warner Music Group by 74.5% during the 2nd quarter. Benjamin Edwards Inc. now owns 953 shares of the company's stock worth $29,000 after acquiring an additional 407 shares in the last quarter. Concord Wealth Partners acquired a new position in shares of Warner Music Group during the 3rd quarter worth about $30,000. ORG Partners LLC raised its position in shares of Warner Music Group by 5,790.5% during the 2nd quarter. ORG Partners LLC now owns 1,237 shares of the company's stock worth $37,000 after purchasing an additional 1,216 shares during the last quarter. Assetmark Inc. raised its position in shares of Warner Music Group by 9,400.0% during the 3rd quarter. Assetmark Inc. now owns 1,235 shares of the company's stock worth $39,000 after purchasing an additional 1,222 shares during the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in shares of Warner Music Group during the 3rd quarter worth about $73,000. 96.88% of the stock is owned by hedge funds and other institutional investors.

Warner Music Group Stock Up 0.7 %

NASDAQ:WMG traded up $0.23 during trading hours on Tuesday, reaching $32.17. The company's stock had a trading volume of 3,130,681 shares, compared to its average volume of 1,800,715. The stock has a 50 day moving average price of $32.09 and a two-hundred day moving average price of $30.64. The company has a market capitalization of $16.66 billion, a P/E ratio of 38.80, a price-to-earnings-growth ratio of 0.70 and a beta of 1.35. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.65 and a current ratio of 0.68. Warner Music Group has a 12 month low of $27.06 and a 12 month high of $38.05.

Warner Music Group (NASDAQ:WMG - Get Free Report) last released its quarterly earnings results on Thursday, November 21st. The company reported $0.08 EPS for the quarter, missing analysts' consensus estimates of $0.28 by ($0.20). Warner Music Group had a net margin of 6.77% and a return on equity of 69.29%. The business had revenue of $1.63 billion during the quarter, compared to analysts' expectations of $1.59 billion. During the same quarter last year, the business posted $0.34 earnings per share. The company's quarterly revenue was up 2.8% compared to the same quarter last year. Equities analysts predict that Warner Music Group will post 1.34 EPS for the current fiscal year.

Warner Music Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Tuesday, November 19th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend was Tuesday, November 19th. Warner Music Group's payout ratio is currently 86.75%.

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.