Tencent Music Entertainment Group – (NYSE:TME) Receives $15.47 Consensus PT from Analysts

Tencent Music Entertainment Group – (NYSE:TME) has been given an average recommendation of “Buy” by the fifteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $15.47.

TME has been the subject of a number of research analyst reports. Stifel Nicolaus reissued a “hold” rating and set a $14.00 target price on shares of Tencent Music Entertainment Group in a report on Tuesday, March 17th. Zacks Investment Research raised Tencent Music Entertainment Group from a “sell” rating to a “hold” rating in a report on Friday, March 13th. Oppenheimer cut Tencent Music Entertainment Group from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 19th. UBS Group reduced their target price on Tencent Music Entertainment Group from $14.50 to $12.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. Finally, ValuEngine cut Tencent Music Entertainment Group from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd.

Several large investors have recently bought and sold shares of the stock. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Tencent Music Entertainment Group by 2.0% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 39,506 shares of the company’s stock valued at $464,000 after purchasing an additional 761 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Tencent Music Entertainment Group by 4.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,690 shares of the company’s stock valued at $278,000 after purchasing an additional 1,100 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in shares of Tencent Music Entertainment Group by 24.2% in the fourth quarter. Quadrant Capital Group LLC now owns 6,238 shares of the company’s stock valued at $73,000 after purchasing an additional 1,214 shares during the last quarter. Panagora Asset Management Inc. increased its holdings in shares of Tencent Music Entertainment Group by 4.3% in the fourth quarter. Panagora Asset Management Inc. now owns 29,825 shares of the company’s stock valued at $350,000 after purchasing an additional 1,229 shares during the last quarter. Finally, Stifel Financial Corp increased its holdings in shares of Tencent Music Entertainment Group by 10.3% in the third quarter. Stifel Financial Corp now owns 14,108 shares of the company’s stock valued at $181,000 after purchasing an additional 1,319 shares during the last quarter. 16.37% of the stock is owned by hedge funds and other institutional investors.

TME stock traded up $0.26 during mid-day trading on Wednesday, reaching $10.99. 9,452,093 shares of the company’s stock were exchanged, compared to its average volume of 8,650,207. The company has a market cap of $17.52 billion, a price-to-earnings ratio of 31.40, a price-to-earnings-growth ratio of 1.64 and a beta of 1.39. The stock’s 50 day moving average is $11.29 and its 200 day moving average is $12.56. Tencent Music Entertainment Group has a 12-month low of $9.22 and a 12-month high of $18.66.

Tencent Music Entertainment Group (NYSE:TME) last issued its quarterly earnings results on Monday, March 16th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.71. The company had revenue of $7.29 billion for the quarter, compared to the consensus estimate of $7.08 billion. Tencent Music Entertainment Group had a return on equity of 10.66% and a net margin of 15.69%. Tencent Music Entertainment Group’s revenue for the quarter was up 35.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.57 earnings per share. Analysts predict that Tencent Music Entertainment Group will post 0.32 earnings per share for the current year.

Tencent Music Entertainment Group Company Profile

Tencent Music Entertainment Group operates an online music entertainment platform that provides online music and music-centric social entertainment services in 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.

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

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