Tencent Music Entertainment Group Sponsored ADR (TME) – What Are Analysts Saying About This Stock?

Shares of Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) have earned an average recommendation of “Hold” from the thirteen brokerages that are covering the firm, MarketBeat reports. Nine equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $17.21.

A number of equities analysts have recently commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Tencent Music Entertainment Group in a research note on Monday, September 28th. UBS Group set a $15.00 target price on Tencent Music Entertainment Group in a report on Wednesday, August 12th. Mizuho dropped their price target on 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. China Renaissance raised Tencent Music Entertainment Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 14th. Finally, Nomura set a $10.00 price target on Tencent Music Entertainment Group and gave the stock a “neutral” rating in a report on Thursday, August 13th.

Institutional Trading of Tencent Music Entertainment Group

A number of hedge funds have recently bought and sold shares of TME. QRG Capital Management Inc. grew its holdings in shares of Tencent Music Entertainment Group by 10.9% during 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 last quarter. Sequoia Financial Advisors LLC increased its stake in shares of Tencent Music Entertainment Group by 14.6% in the first quarter. Sequoia Financial Advisors LLC now owns 21,728 shares of the company’s stock valued at $202,000 after buying an additional 2,765 shares during the period. NewEdge Advisors LLC increased its stake in shares of Tencent Music Entertainment Group by 4.6% in the first quarter. NewEdge Advisors LLC now owns 66,895 shares of the company’s stock valued at $621,000 after buying an additional 2,938 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Tencent Music Entertainment Group by 11.6% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 46,242 shares of the company’s stock valued at $367,000 after buying an additional 4,818 shares during the last quarter. Finally, Quantitative Investment Management LLC raised its holdings in Tencent Music Entertainment Group by 10.6% in the 2nd quarter. Quantitative Investment Management LLC now owns 56,191 shares of the company’s stock valued at $469,000 after buying an additional 5,395 shares during the last quarter. 24.32% of the stock is owned by institutional investors.

Tencent Music Entertainment Group Stock Performance

NYSE:TME opened at $8.48 on Tuesday. The firm has a market capitalization of $13.35 billion, a PE ratio of 9.90, a PEG ratio of 1.49 and a beta of 0.78. Tencent Music Entertainment Group has a 1 year low of $7.66 and a 1 year high of $23.85. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.13. The firm’s fifty day simple moving average is $8.32 and its 200 day simple moving average is $10.56.

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

Tencent Music Entertainment Group Company Profile

Tencent Music Entertainment Group is a China-based online music and audio entertainment company. Established in 2016 through the combination of Tencent’s online music businesses, the company operates digital platforms that provide music streaming, audio content and interactive entertainment services.

Its principal services include QQ Music, Kugou Music and Kuwo Music, which offer licensed songs, playlists, music videos, podcasts and other audio programming. Tencent Music also operates WeSing, a social karaoke platform that enables users to sing, record and share performances.