Tencent Music Entertainment Group (NYSE:TME) Receives $12.67 Average PT from Analysts

Tencent Music Entertainment Group (NYSE:TME - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the thirteen ratings firms that are currently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $12.67.

A number of research analysts recently weighed in on TME shares. Morgan Stanley cut Tencent Music Entertainment Group from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $15.00 to $13.00 in a report on Wednesday, September 25th. Daiwa America lowered Tencent Music Entertainment Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 13th. Mizuho decreased their target price on Tencent Music Entertainment Group from $17.00 to $16.00 and set an "outperform" rating for the company in a report on Wednesday, August 14th. Daiwa Capital Markets lowered shares of Tencent Music Entertainment Group from an "outperform" rating to a "neutral" rating in a report on Tuesday, August 13th. Finally, Benchmark decreased their price objective on shares of Tencent Music Entertainment Group from $19.00 to $15.00 and set a "buy" rating for the company in a research note on Wednesday, August 14th.

Institutional Trading of Tencent Music Entertainment Group

Several institutional investors have recently added to or reduced their stakes in the stock. GAM Holding AG raised its stake in shares of Tencent Music Entertainment Group by 108.0% in the 3rd quarter. GAM Holding AG now owns 183,000 shares of the company's stock valued at $2,205,000 after purchasing an additional 95,000 shares in the last quarter. Ariose Capital Management Ltd acquired a new stake in Tencent Music Entertainment Group during the third quarter valued at approximately $12,285,000. Allspring Global Investments Holdings LLC raised its stake in Tencent Music Entertainment Group by 14.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,973,760 shares of the company's stock valued at $71,984,000 after buying an additional 753,383 shares in the last quarter. Blue Trust Inc. lifted its holdings in Tencent Music Entertainment Group by 31.5% during the 3rd quarter. Blue Trust Inc. now owns 21,258 shares of the company's stock worth $256,000 after buying an additional 5,092 shares during the last quarter. Finally, Harbour Capital Advisors LLC bought a new stake in shares of Tencent Music Entertainment Group in the 3rd quarter valued at approximately $378,000. 24.32% of the stock is owned by institutional investors and hedge funds.

Tencent Music Entertainment Group Trading Down 1.3 %

Shares of TME stock traded down $0.15 during mid-day trading on Thursday, hitting $11.44. 5,990,788 shares of the company's stock were exchanged, compared to its average volume of 8,793,464. The stock has a market cap of $19.63 billion, a price-to-earnings ratio of 22.86, a PEG ratio of 0.87 and a beta of 0.66. The stock has a 50-day simple moving average of $11.15 and a two-hundred day simple moving average of $12.87. Tencent Music Entertainment Group has a fifty-two week low of $6.76 and a fifty-two week high of $15.77. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.09.

Tencent Music Entertainment Group (NYSE:TME - Get Free Report) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $0.15 EPS for the quarter, missing analysts' consensus estimates of $0.16 by ($0.01). Tencent Music Entertainment Group had a net margin of 20.35% and a return on equity of 10.11%. The company had revenue of $985.00 million for the quarter, compared to analyst estimates of $1 billion. Equities analysts expect that Tencent Music Entertainment Group will post 0.63 EPS for the current fiscal year.

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.