Tencent Music Entertainment Group (NYSE:TME) Receives Consensus Rating of “Hold” from Brokerages

Shares of Tencent Music Entertainment Group (NYSE:TMEGet Rating) have been given a consensus recommendation of “Hold” by the thirteen brokerages that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $8.55.

A number of research analysts have weighed in on TME shares. HSBC reduced their target price on Tencent Music Entertainment Group from $5.10 to $3.90 in a report on Tuesday, May 17th. The Goldman Sachs Group initiated coverage on Tencent Music Entertainment Group in a report on Sunday, April 10th. They set a “sell” rating and a $5.60 price objective for the company.

Institutional Trading of Tencent Music Entertainment Group

Hedge funds have recently bought and sold shares of the company. JJJ Advisors Inc. lifted its position in Tencent Music Entertainment Group by 74.5% in the 4th quarter. JJJ Advisors Inc. now owns 5,940 shares of the company’s stock worth $41,000 after buying an additional 2,536 shares during the last quarter. Founders Financial Securities LLC bought a new stake in Tencent Music Entertainment Group in the second quarter valued at approximately $50,000. HighTower Advisors LLC bought a new stake in Tencent Music Entertainment Group in the first quarter valued at approximately $51,000. Parallel Advisors LLC lifted its position in Tencent Music Entertainment Group by 50.0% in the second quarter. Parallel Advisors LLC now owns 11,795 shares of the company’s stock valued at $59,000 after purchasing an additional 3,931 shares during the last quarter. Finally, Ground Swell Capital LLC lifted its position in Tencent Music Entertainment Group by 25.5% in the first quarter. Ground Swell Capital LLC now owns 13,223 shares of the company’s stock valued at $64,000 after purchasing an additional 2,690 shares during the last quarter.

Tencent Music Entertainment Group Trading Up 0.2 %

Shares of TME opened at $4.27 on Friday. The business has a 50-day moving average of $4.55 and a 200 day moving average of $4.79. Tencent Music Entertainment Group has a fifty-two week low of $2.95 and a fifty-two week high of $10.96. The firm has a market cap of $7.16 billion, a P/E ratio of 16.42, a price-to-earnings-growth ratio of 1.27 and a beta of 0.71. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.28 and a current ratio of 2.28.

Tencent Music Entertainment Group (NYSE:TMEGet Rating) last posted its earnings results on Monday, May 16th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. The business had revenue of $6.64 billion during the quarter, compared to analyst estimates of $6.65 billion. Tencent Music Entertainment Group had a return on equity of 6.21% and a net margin of 9.01%. The company’s quarterly revenue was down 15.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.09 EPS. As a group, research analysts forecast that Tencent Music Entertainment Group will post 0.24 EPS for the current year.

About Tencent Music Entertainment Group

(Get Rating)

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 and listen to music in personalized ways; and WeSing, which enables users to have fun by singing and interacting with friends, sharing their singing performances with friends, and discovering songs that others have sung.

Featured Articles

Analyst Recommendations for Tencent Music Entertainment Group (NYSE:TME)

Receive News & Ratings for Tencent Music Entertainment Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tencent Music Entertainment Group and related companies with MarketBeat.com's FREE daily email newsletter.