Tencent Music Entertainment Group Sponsored ADR (NYSE:TME – Get Free Report) has been assigned a consensus rating of “Hold” from the thirteen analysts that are covering the stock, MarketBeat.com reports. Nine research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $17.21.
A number of analysts have weighed in on the company. Nomura set a $10.00 price target on Tencent Music Entertainment Group and gave the company a “neutral” rating in a research note on Thursday, August 13th. UBS Group set a $15.00 target price on Tencent Music Entertainment Group in a research report on Wednesday, August 12th. Weiss Ratings restated a “hold (c)” rating on shares of Tencent Music Entertainment Group in a research note on Monday, September 28th. China Renaissance upgraded shares of Tencent Music Entertainment Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 14th. Finally, Mizuho dropped their price target on Tencent Music Entertainment Group from $18.00 to $15.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 12th.
Get Our Latest Stock Report on TME
Tencent Music Entertainment Group Price Performance
Shares of TME opened at $8.57 on Tuesday. The company has a market cap of $13.50 billion, a P/E ratio of 9.81, a PEG ratio of 1.48 and a beta of 0.78. Tencent Music Entertainment Group has a fifty-two week low of $7.66 and a fifty-two week high of $23.85. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.13. The firm’s 50 day moving average price is $8.32 and its 200 day moving average price is $8.83.
Tencent Music Entertainment Group (NYSE:TME – Get Free Report) last posted its quarterly earnings data on Tuesday, June 30th. The company reported $0.25 earnings per share for the quarter. The business had revenue of $1.31 billion for the quarter. Tencent Music Entertainment Group had a return on equity of 11.53% and a net margin of 26.27%. On average, research analysts forecast that Tencent Music Entertainment Group will post 0.87 earnings per share for the current fiscal year.
Institutional Trading of Tencent Music Entertainment Group
Several hedge funds have recently modified their holdings of the business. Pale Fire Capital SE acquired a new position in Tencent Music Entertainment Group during the second quarter worth about $9,141,000. Nykredit A S purchased a new position in shares of Tencent Music Entertainment Group in the second quarter valued at $1,964,000. Twin Peaks Capital Ltd raised its stake in shares of Tencent Music Entertainment Group by 275.0% during the 2nd quarter. Twin Peaks Capital Ltd now owns 300,000 shares of the company’s stock worth $2,505,000 after buying an additional 220,000 shares during the last quarter. Working Capital Advisors UK Ltd. acquired a new stake in Tencent Music Entertainment Group in the 2nd quarter valued at about $3,340,000. Finally, Sei Investments Co. grew its position in shares of Tencent Music Entertainment Group by 10.4% in the first quarter. Sei Investments Co. now owns 3,980,820 shares of the company’s stock valued at $36,942,000 after purchasing an additional 374,586 shares during the last quarter. 24.32% of the stock is owned by institutional investors and hedge funds.
Tencent Music Entertainment Group Company Profile
Tencent Music Entertainment Group is a China-based online music and audio entertainment company. Established in 2016 through the combination of Tencent’s online music businesses, the company operates digital platforms that provide music streaming, audio content and interactive entertainment services.
Its principal services include QQ Music, Kugou Music and Kuwo Music, which offer licensed songs, playlists, music videos, podcasts and other audio programming. Tencent Music also operates WeSing, a social karaoke platform that enables users to sing, record and share performances.
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