Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) Stock Has Consensus Price Target of $17.21

by · The Markets Daily

Shares of Tencent Music Entertainment Group Sponsored ADR (NYSE:TME – Get Free Report) have received a consensus recommendation of “Hold” from the thirteen brokerages that are presently covering the company, Marketbeat Ratings reports. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $17.21.

Several equities analysts recently issued reports on the stock. Nomura set a $10.00 price target on shares of Tencent Music Entertainment Group and gave the company a “neutral” rating in a research report on Thursday, August 13th. China Renaissance downgraded shares of Tencent Music Entertainment Group from a “buy” rating to a “hold” rating and set a $9.30 price target for the company. in a research note on Wednesday, August 12th. Weiss Ratings upgraded shares of Tencent Music Entertainment Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, July 1st. UBS Group set a $15.00 price objective on Tencent Music Entertainment Group in a research report on Wednesday, August 12th. Finally, Mizuho reduced their target price on Tencent Music Entertainment Group from $18.00 to $15.00 and set an “outperform” rating on the stock in a report on Wednesday, August 12th.

Get Our Latest Stock Report on TME

Tencent Music Entertainment Group Stock Performance

NYSE:TME opened at $8.38 on Friday. 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 fifty day simple moving average is $8.69 and its 200 day simple moving average is $9.18. The stock has a market cap of $13.20 billion, a P/E ratio of 10.35, a price-to-earnings-growth ratio of 1.47 and a beta of 0.85. Tencent Music Entertainment Group has a twelve month low of $7.70 and a twelve month high of $24.25.

Tencent Music Entertainment Group (NYSE:TME – Get Free Report) last issued its quarterly earnings data on Tuesday, June 30th. The company reported $0.25 EPS for the quarter. Tencent Music Entertainment Group had a net margin of 26.27% and a return on equity of 11.53%. The business had revenue of $1.31 billion during the quarter. As a group, research analysts predict that Tencent Music Entertainment Group will post 0.87 EPS for the current year.

Institutional Investors Weigh In On Tencent Music Entertainment Group

Hedge funds have recently made changes to their positions in the company. QRG Capital Management Inc. grew its stake in Tencent Music Entertainment Group by 10.9% in the second quarter. QRG Capital Management Inc. now owns 12,809 shares of the company’s stock worth $107,000 after purchasing an additional 1,255 shares during the period. Twin Peaks Capital Ltd lifted its position in Tencent Music Entertainment Group by 275.0% during the second quarter. Twin Peaks Capital Ltd now owns 300,000 shares of the company’s stock valued at $2,505,000 after buying an additional 220,000 shares during the period. Sequoia Financial Advisors LLC lifted its position in Tencent Music Entertainment Group by 230.7% during the second quarter. Sequoia Financial Advisors LLC now owns 71,852 shares of the company’s stock valued at $600,000 after buying an additional 50,124 shares during the period. National Pension Service lifted its position in Tencent Music Entertainment Group by 10.2% during the second quarter. National Pension Service now owns 167,366 shares of the company’s stock valued at $1,398,000 after buying an additional 15,558 shares during the period. Finally, NewEdge Advisors LLC boosted its holdings in shares of Tencent Music Entertainment Group by 80.1% during the 2nd quarter. NewEdge Advisors LLC now owns 120,498 shares of the company’s stock valued at $1,006,000 after buying an additional 53,603 shares in the last quarter. 24.32% of the stock is currently owned by institutional investors.

Tencent Music Entertainment Group Company Profile

(Get Free Report)

Tencent Music Entertainment Group is a China-based online music and audio entertainment company. It operates digital music platforms including QQ Music, Kugou Music and Kuwo Music, which provide users with licensed songs, albums, music videos, playlists, podcasts and other audio content. The company also operates WeSing, a social karaoke service that allows users to sing, record and share performances.

The company generates revenue through music subscriptions, digital advertising, content sales, and social entertainment services such as virtual gifts, live streaming and karaoke-related offerings.

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