Warner Music Group (NASDAQ:WMG) Price Target Lowered to $41.00 at UBS Group

Warner Music Group (NASDAQ:WMG) had its price objective lowered by investment analysts at UBS Group from $43.00 to $41.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s price objective would suggest a potential upside of 39.93% from the company’s current price.

A number of other research analysts also recently commented on WMG. Loop Capital lowered their target price on Warner Music Group from $38.00 to $35.00 and set a “hold” rating on the stock in a research note on Monday, November 25th. Evercore ISI lowered their price target on Warner Music Group from $36.00 to $35.00 and set an “outperform” rating for the company in a research note on Thursday. Tigress Financial cut their price objective on shares of Warner Music Group from $52.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. JPMorgan Chase & Co. reduced their target price on shares of Warner Music Group from $41.00 to $40.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Finally, Macquarie restated a “neutral” rating and set a $30.00 price target on shares of Warner Music Group in a research note on Friday, November 22nd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Warner Music Group has a consensus rating of “Hold” and a consensus price target of $35.69.

Warner Music Group Price Performance

Shares of WMG opened at $29.30 on Friday. The company has a debt-to-equity ratio of 5.95, a current ratio of 0.68 and a quick ratio of 0.65. The company has a market capitalization of $15.18 billion, a price-to-earnings ratio of 35.30, a P/E/G ratio of 0.70 and a beta of 1.35. The business’s 50-day moving average is $31.93 and its 200-day moving average is $30.78. Warner Music Group has a fifty-two week low of $27.06 and a fifty-two week high of $38.05.

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

Insider Buying and Selling at Warner Music Group

In related news, Director Lincoln E. Benet sold 35,000 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $30.96, for a total value of $1,083,600.00. Following the sale, the director now owns 242,360 shares of the company’s stock, valued at $7,503,465.60. The trade was a 12.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 73.35% of the company’s stock.

Institutional Investors Weigh In On Warner Music Group

Large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in Warner Music Group by 37.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,754,504 shares of the company’s stock valued at $274,016,000 after purchasing an additional 2,370,973 shares in the last quarter. Mawer Investment Management Ltd. increased its stake in shares of Warner Music Group by 2,699.4% in the third quarter. Mawer Investment Management Ltd. now owns 8,217,467 shares of the company’s stock valued at $257,207,000 after buying an additional 7,923,926 shares in the last quarter. Darlington Partners Capital Management LP raised its holdings in shares of Warner Music Group by 47.4% in the second quarter. Darlington Partners Capital Management LP now owns 8,072,372 shares of the company’s stock valued at $247,418,000 after buying an additional 2,594,994 shares during the last quarter. D1 Capital Partners L.P. lifted its position in Warner Music Group by 91.5% during the 3rd quarter. D1 Capital Partners L.P. now owns 5,264,498 shares of the company’s stock worth $164,779,000 after buying an additional 2,514,715 shares in the last quarter. Finally, Independent Franchise Partners LLP bought a new stake in Warner Music Group during the 2nd quarter worth about $160,156,000. 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.