Daiwa Capital Markets began coverage on shares of Tencent Music Entertainment Group (NYSE:TME – Get Rating) in a report issued on Friday, Briefing.com reports. The firm issued a buy rating on the stock.
Several other research analysts have also weighed in on TME. JPMorgan Chase & Co. raised Tencent Music Entertainment Group from a neutral rating to an overweight rating and upped their target price for the stock from $4.80 to $7.70 in a research report on Monday, November 21st. The Goldman Sachs Group raised Tencent Music Entertainment Group from a sell rating to a neutral rating and raised their price target for the company from $5.00 to $8.00 in a report on Monday, January 9th. Benchmark raised Tencent Music Entertainment Group from a hold rating to a buy rating and set a $7.00 target price for the company in a research note on Wednesday, November 16th. Finally, Morgan Stanley upgraded Tencent Music Entertainment Group from an equal weight rating to an overweight rating and raised their price target for the stock from $4.50 to $8.50 in a research report on Thursday, December 1st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Tencent Music Entertainment Group has an average rating of Moderate Buy and an average price target of $7.07.
Get Tencent Music Entertainment Group alerts:Tencent Music Entertainment Group Stock Performance
NYSE TME opened at $8.99 on Friday. The business's 50-day simple moving average is $7.24 and its 200-day simple moving average is $5.39. The firm has a market capitalization of $15.24 billion, a P/E ratio of 32.11, a P/E/G ratio of 0.81 and a beta of 0.79. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.15 and a quick ratio of 2.15. Tencent Music Entertainment Group has a 1-year low of $2.95 and a 1-year high of $9.29.
Tencent Music Entertainment Group (NYSE:TME – Get Rating) last issued its quarterly earnings data on Tuesday, November 15th. The company reported $0.10 EPS for the quarter, topping analysts' consensus estimates of $0.08 by $0.02. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. Tencent Music Entertainment Group had a return on equity of 6.74% and a net margin of 10.61%. Equities analysts predict that Tencent Music Entertainment Group will post 0.36 EPS for the current year.Institutional Trading of Tencent Music Entertainment Group
A number of institutional investors and hedge funds have recently bought and sold shares of TME. EverSource Wealth Advisors LLC boosted its position in shares of Tencent Music Entertainment Group by 910.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 13,259 shares of the company's stock worth $67,000 after purchasing an additional 11,947 shares in the last quarter. Macquarie Group Ltd. increased its stake in shares of Tencent Music Entertainment Group by 3.2% during the 2nd quarter. Macquarie Group Ltd. now owns 1,594,808 shares of the company's stock worth $8,006,000 after purchasing an additional 49,954 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Tencent Music Entertainment Group by 11.1% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 196,264 shares of the company's stock worth $985,000 after purchasing an additional 19,606 shares during the last quarter. Janiczek Wealth Management LLC grew its stake in Tencent Music Entertainment Group by 37.8% in the 2nd quarter. Janiczek Wealth Management LLC now owns 18,992 shares of the company's stock valued at $80,000 after buying an additional 5,205 shares in the last quarter. Finally, Aviva PLC grew its stake in Tencent Music Entertainment Group by 15.1% in the 2nd quarter. Aviva PLC now owns 359,259 shares of the company's stock valued at $1,803,000 after buying an additional 47,000 shares in the last quarter. 21.77% of the stock is currently owned by institutional investors and hedge funds.
Tencent Music Entertainment Group Company Profile
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Tencent Music Entertainment Group is a holding company, which engages in the operation of an online music and audio entertainment platform. Its platform is composed of online music, online audio, online karaoke, music-centric live streaming, and online concert services. The company was founded on June 6, 2012 and is headquartered in Shenzhen, China.
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