Brokerages Set Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) Target Price at $24.54

Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) has received a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $24.5375.

A number of research analysts have issued reports on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Tencent Music Entertainment Group in a research report on Wednesday, October 8th. Bank of America started coverage on Tencent Music Entertainment Group in a research report on Tuesday, October 28th. They set a “neutral” rating and a $25.00 price target on the stock. Wall Street Zen lowered Tencent Music Entertainment Group from a “buy” rating to a “hold” rating in a research note on Saturday. Sanford C. Bernstein set a $27.50 target price on Tencent Music Entertainment Group and gave the company an “outperform” rating in a research report on Wednesday, August 13th. Finally, Benchmark increased their target price on Tencent Music Entertainment Group from $19.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, August 13th.

Institutional Trading of Tencent Music Entertainment Group

Large investors have recently made changes to their positions in the company. Corient Private Wealth LLC raised its stake in shares of Tencent Music Entertainment Group by 1.6% during the 2nd quarter. Corient Private Wealth LLC now owns 32,213 shares of the company’s stock worth $628,000 after purchasing an additional 498 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in Tencent Music Entertainment Group by 5.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 13,553 shares of the company’s stock worth $264,000 after buying an additional 651 shares during the last quarter. PDS Planning Inc raised its position in Tencent Music Entertainment Group by 5.6% in the second quarter. PDS Planning Inc now owns 12,561 shares of the company’s stock worth $245,000 after acquiring an additional 665 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in Tencent Music Entertainment Group by 0.8% in the second quarter. DekaBank Deutsche Girozentrale now owns 101,362 shares of the company’s stock valued at $1,975,000 after acquiring an additional 842 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of Tencent Music Entertainment Group by 11.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 12,799 shares of the company’s stock valued at $249,000 after acquiring an additional 1,269 shares during the period. Institutional investors and hedge funds own 24.32% of the company’s stock.

Tencent Music Entertainment Group Trading Down 5.0%

TME stock opened at $21.20 on Monday. Tencent Music Entertainment Group has a 52 week low of $10.11 and a 52 week high of $26.70. The company has a market capitalization of $36.38 billion, a PE ratio of 23.29, a price-to-earnings-growth ratio of 1.29 and a beta of 0.51. The company’s 50-day simple moving average is $23.60 and its 200 day simple moving average is $20.92. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.87 and a current ratio of 1.87.

Tencent Music Entertainment Group Company Profile

Tencent Music Entertainment Group operates online music entertainment platforms to provide music streaming, online karaoke, and live streaming services in the People's Republic of China. It offers QQ Music, Kugou Music, and Kuwo Music that enable users to discover music in personalized ways; long-form audio content, including audiobooks, podcasts and talk shows, as well as music-oriented video content comprising music videos, live performances, and short videos; and WeSing, which enables users to sing along from its library of karaoke songs and share their performances in audio or video formats with friends.