Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) Receives Consensus Recommendation of “Hold” from Analysts

Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) has been assigned a consensus recommendation of “Hold” from the thirteen analysts that are presently covering the stock, Marketbeat.com reports. Ten equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $17.2091.

A number of research firms recently weighed in on TME. 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. China Renaissance cut shares of Tencent Music Entertainment Group from a “buy” rating to a “hold” rating and set a $9.30 price objective for the company. in a research report on Wednesday, August 12th. UBS Group set a $15.00 price objective on shares of Tencent Music Entertainment Group in a report on Wednesday, August 12th. Mizuho dropped their price objective on shares of 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. Finally, Weiss Ratings raised shares of Tencent Music Entertainment Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, July 1st.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TME. Allworth Financial LP grew its holdings in Tencent Music Entertainment Group by 63.2% in the 3rd quarter. Allworth Financial LP now owns 1,480 shares of the company’s stock valued at $35,000 after buying an additional 573 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Tencent Music Entertainment Group by 5,777.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,057 shares of the company’s stock worth $36,000 after buying an additional 2,022 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Tencent Music Entertainment Group by 61.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,123 shares of the company’s stock valued at $37,000 after acquiring an additional 807 shares during the period. Kestra Advisory Services LLC bought a new stake in shares of Tencent Music Entertainment Group in the fourth quarter valued at about $46,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Tencent Music Entertainment Group by 83.0% in the second quarter. EverSource Wealth Advisors LLC now owns 3,005 shares of the company’s stock valued at $59,000 after acquiring an additional 1,363 shares during the period. 24.32% of the stock is owned by institutional investors.

Tencent Music Entertainment Group Price Performance

Shares of NYSE TME opened at $8.27 on Monday. The business’s 50 day moving average price is $8.90 and its two-hundred day moving average price is $9.87. The company has a market cap of $13.02 billion, a PE ratio of 10.21, a price-to-earnings-growth ratio of 1.45 and a beta of 0.85. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.13. Tencent Music Entertainment Group has a twelve month low of $7.94 and a twelve month high of $26.70.

Tencent Music Entertainment Group (NYSE:TME) last released its quarterly earnings data on Tuesday, June 30th. The company reported $0.25 earnings per share (EPS) for the quarter. Tencent Music Entertainment Group had a return on equity of 11.53% and a net margin of 26.27%.The company had revenue of $1.31 billion during the quarter. On average, analysts predict that Tencent Music Entertainment Group will post 0.87 EPS for the current year.

Tencent Music Entertainment Group Company Profile

Tencent Music Entertainment Group (NYSE: TME) is a China-based digital music and audio entertainment platform that operates a portfolio of leading music streaming and social entertainment services. Its core consumer-facing products include streaming apps, online karaoke (KTV) services and live music and entertainment broadcasts. The company monetizes its content through a mix of subscriptions, digital music sales, in-app purchases, virtual gifting, advertising and licensing arrangements with rights holders.

The company traces its roots to the consolidation of Tencent’s music assets and was established in the mid-2010s to unify several prominent music properties under a single operating entity.