Tencent Music Entertainment Group (NYSE:TME) Receives $12.75 Consensus Price Target from Analysts

Tencent Music Entertainment Group (NYSE:TME) has earned a consensus recommendation of “Moderate Buy” from the eleven research firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $12.75.

Several analysts have recently commented on TME shares. HSBC increased their price target on shares of Tencent Music Entertainment Group from $9.50 to $10.40 and gave the company a “hold” rating in a research report on Wednesday, March 20th. Mizuho boosted their price target on Tencent Music Entertainment Group from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Citigroup raised Tencent Music Entertainment Group from a “neutral” rating to a “buy” rating and increased their price objective for the company from $9.00 to $13.00 in a research note on Wednesday, March 20th. Benchmark boosted their target price on shares of Tencent Music Entertainment Group from $14.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. Finally, Morgan Stanley raised their price target on shares of Tencent Music Entertainment Group from $11.00 to $13.50 and gave the stock an “overweight” rating in a research note on Wednesday, March 20th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Nordea Investment Management AB increased its stake in Tencent Music Entertainment Group by 25.1% during the fourth quarter. Nordea Investment Management AB now owns 1,321,517 shares of the company’s stock worth $11,735,000 after acquiring an additional 265,093 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in Tencent Music Entertainment Group by 205.0% in the fourth quarter. Teacher Retirement System of Texas now owns 453,563 shares of the company’s stock valued at $4,087,000 after buying an additional 304,876 shares during the period. Federated Hermes Inc. acquired a new position in Tencent Music Entertainment Group during the fourth quarter valued at approximately $2,690,000. Banque Cantonale Vaudoise lifted its position in Tencent Music Entertainment Group by 1,027.8% during the first quarter. Banque Cantonale Vaudoise now owns 202,999 shares of the company’s stock valued at $2,271,000 after buying an additional 185,000 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its stake in Tencent Music Entertainment Group by 2,115.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 230,400 shares of the company’s stock worth $2,076,000 after buying an additional 220,000 shares during the period. 24.32% of the stock is owned by hedge funds and other institutional investors.

Tencent Music Entertainment Group Trading Down 2.5 %

Shares of TME opened at $13.96 on Friday. Tencent Music Entertainment Group has a twelve month low of $5.70 and a twelve month high of $15.77. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $23.96 billion, a P/E ratio of 30.35, a PEG ratio of 1.07 and a beta of 0.72. The firm’s 50-day moving average is $13.97 and its two-hundred day moving average is $11.30.

Tencent Music Entertainment Group (NYSE:TME) last posted its earnings results on Monday, May 13th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01. Tencent Music Entertainment Group had a return on equity of 9.85% and a net margin of 18.88%. The company had revenue of $937.00 million for the quarter, compared to analyst estimates of $904.29 million. On average, research analysts predict that Tencent Music Entertainment Group will post 0.62 earnings per share for the current fiscal year.

Tencent Music Entertainment Group Announces Dividend

The business also recently disclosed an annual dividend, which was paid on Thursday, June 27th. Stockholders of record on Friday, May 31st were paid a dividend of $0.121 per share. The ex-dividend date was Friday, May 31st. This represents a dividend yield of 0.78%. Tencent Music Entertainment Group’s dividend payout ratio is presently 28.26%.

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.