Shares of Tencent Music Entertainment Group (NYSE:TME – Get Free Report) have been given an average recommendation of “Moderate Buy” by the eleven analysts that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $12.75.
Several equities analysts recently issued reports on the company. Citigroup raised Tencent Music Entertainment Group from a “neutral” rating to a “buy” rating and upped their target price for the company from $9.00 to $13.00 in a research report on Wednesday, March 20th. Morgan Stanley boosted their price objective on Tencent Music Entertainment Group from $11.00 to $13.50 and gave the company an “overweight” rating in a report on Wednesday, March 20th. CLSA began coverage on Tencent Music Entertainment Group in a research report on Monday, February 5th. They set an “outperform” rating and a $10.50 price target for the company. Bank of America lifted their target price on shares of Tencent Music Entertainment Group from $10.50 to $12.30 and gave the company a “buy” rating in a report on Wednesday, March 20th. Finally, Benchmark lifted their price objective on shares of Tencent Music Entertainment Group from $14.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, May 14th.
Read Our Latest Research Report on TME
Tencent Music Entertainment Group Price Performance
Shares of TME opened at $14.80 on Monday. Tencent Music Entertainment Group has a fifty-two week low of $5.70 and a fifty-two week high of $15.77. The company has a 50 day moving average price of $12.53 and a 200-day moving average price of $10.32. The stock has a market capitalization of $25.40 billion, a PE ratio of 32.17, a PEG ratio of 1.11 and a beta of 0.77. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.67 and a current ratio of 2.67.
Tencent Music Entertainment Group (NYSE:TME – Get Free Report) last released its quarterly earnings results on Tuesday, March 19th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.01. Tencent Music Entertainment Group had a net margin of 18.88% and a return on equity of 9.85%. The business had revenue of $971.00 million for the quarter, compared to analyst estimates of $925.06 million. Equities analysts predict that Tencent Music Entertainment Group will post 0.62 earnings per share for the current fiscal year.
Tencent Music Entertainment Group Announces Dividend
The company also recently disclosed an annual dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, May 31st will be given a dividend of $0.121 per share. This represents a yield of 0.78%. The ex-dividend date of this dividend is Friday, May 31st.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in TME. Tobam acquired a new stake in shares of Tencent Music Entertainment Group during the fourth quarter valued at about $36,000. Headinvest LLC purchased a new stake in Tencent Music Entertainment Group during the third quarter worth about $39,000. Lindbrook Capital LLC lifted its position in shares of Tencent Music Entertainment Group by 40.9% during the fourth quarter. Lindbrook Capital LLC now owns 7,036 shares of the company’s stock worth $63,000 after purchasing an additional 2,044 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in shares of Tencent Music Entertainment Group in the third quarter valued at approximately $64,000. Finally, SageView Advisory Group LLC purchased a new stake in Tencent Music Entertainment Group during the 4th quarter worth approximately $90,000. 24.32% of the stock is currently owned by institutional investors and hedge funds.
Tencent Music Entertainment Group Company Profile
(Get Free Report
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.
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