Brokerages Set Warner Music Group Corp. (NASDAQ:WMG) PT at $34.94

Warner Music Group Corp. (NASDAQ:WMG) has been given a consensus recommendation of “Moderate Buy” by the twenty analysts that are covering the firm, Marketbeat reports. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $34.9412.

A number of equities analysts have recently commented on WMG shares. Zacks Research upgraded shares of Warner Music Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 25th. The Goldman Sachs Group reiterated a “neutral” rating on shares of Warner Music Group in a report on Tuesday, November 25th. Wells Fargo & Company set a $39.00 price target on Warner Music Group and gave the company an “overweight” rating in a research note on Tuesday, October 14th. UBS Group set a $33.00 price target on Warner Music Group in a research report on Friday, November 21st. Finally, JPMorgan Chase & Co. increased their price objective on Warner Music Group from $36.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th.

Institutional Trading of Warner Music Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Nisa Investment Advisors LLC boosted its stake in shares of Warner Music Group by 120.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 865 shares of the company’s stock worth $29,000 after acquiring an additional 472 shares during the period. Farther Finance Advisors LLC increased its holdings in Warner Music Group by 57.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 879 shares of the company’s stock valued at $30,000 after buying an additional 321 shares during the period. GAMMA Investing LLC raised its position in Warner Music Group by 85.7% during the third quarter. GAMMA Investing LLC now owns 1,107 shares of the company’s stock valued at $38,000 after purchasing an additional 511 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in shares of Warner Music Group by 774.6% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,207 shares of the company’s stock worth $41,000 after buying an additional 1,069 shares in the last quarter. Finally, Osaic Holdings Inc. raised its stake in Warner Music Group by 480.9% during the second quarter. Osaic Holdings Inc. now owns 1,493 shares of the company’s stock worth $41,000 after acquiring an additional 1,236 shares in the last quarter. Institutional investors own 96.88% of the company’s stock.

Warner Music Group Price Performance

Shares of WMG opened at $30.59 on Wednesday. The company has a quick ratio of 0.64, a current ratio of 0.66 and a debt-to-equity ratio of 5.77. Warner Music Group has a twelve month low of $25.56 and a twelve month high of $36.64. The stock has a market capitalization of $15.98 billion, a P/E ratio of 43.70, a P/E/G ratio of 0.73 and a beta of 1.25. The company has a 50 day moving average of $29.51 and a 200-day moving average of $31.14.

Warner Music Group (NASDAQ:WMG) last announced its earnings results on Thursday, November 20th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.14). The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.68 billion. Warner Music Group had a return on equity of 47.78% and a net margin of 5.44%.The business’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 EPS. As a group, equities research analysts forecast that Warner Music Group will post 1.39 EPS for the current fiscal year.

Warner Music Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 2nd. Investors of record on Wednesday, November 19th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 2.5%. The ex-dividend date was Wednesday, November 19th. Warner Music Group’s dividend payout ratio (DPR) is 108.57%.

About Warner Music Group

Warner Music Group is a major global music company that operates across recorded music and music publishing. Its recorded-music business comprises a portfolio of well-known labels—including Atlantic, Warner Records and Parlophone—as well as distribution and artist-services operations that support both established and emerging artists. The company’s publishing arm, Warner Chappell Music, manages songwriting catalogs and administers rights for compositions across multiple media, providing licensing for film, television, advertising and other commercial uses.

WMG’s activities span the full music value chain: signing and developing artists, producing and marketing recordings, distributing music through physical channels and streaming platforms, and monetizing rights through licensing, synchronization and neighboring-rights collection.