JPMorgan Chase & Co. started coverage on shares of Tencent Music Entertainment Group (NYSE:TME – Get Rating) in a research report report published on Monday, Marketbeat.com reports. The firm issued an overweight rating on the stock.
TME has been the subject of a number of other reports. 86 Research downgraded shares of Tencent Music Entertainment Group from a buy rating to a hold rating in a research report on Thursday, January 19th. Benchmark upgraded shares of Tencent Music Entertainment Group from a hold rating to a buy rating and set a $7.00 price objective for the company in a research report on Wednesday, November 16th. The Goldman Sachs Group upgraded shares of Tencent Music Entertainment Group from a sell rating to a neutral rating and upped their price objective for the stock from $5.00 to $8.00 in a research report on Monday, January 9th. Daiwa Capital Markets assumed coverage on shares of Tencent Music Entertainment Group in a research report on Friday, January 13th. They issued a buy rating for the company. Finally, Morgan Stanley upgraded shares of Tencent Music Entertainment Group from an equal weight rating to an overweight rating and upped their price objective for the stock from $4.50 to $8.50 in a research report on Thursday, December 1st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $7.02.
Get Tencent Music Entertainment Group alerts:Tencent Music Entertainment Group Trading Up 0.2 %
NYSE TME opened at $8.89 on Monday. The company has a market capitalization of $15.07 billion, a PE ratio of 31.82, a P/E/G ratio of 0.72 and a beta of 0.78. The company has a fifty day moving average of $8.08 and a 200 day moving average of $5.70. Tencent Music Entertainment Group has a 1 year low of $2.95 and a 1 year high of $9.29. 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 (NYSE:TME – Get Rating) last posted its earnings results on Tuesday, November 15th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.08 by $0.02. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. Tencent Music Entertainment Group had a net margin of 10.61% and a return on equity of 6.74%. Research analysts forecast that Tencent Music Entertainment Group will post 0.37 earnings per share for the current year.Institutional Trading of Tencent Music Entertainment Group
A number of institutional investors and hedge funds have recently modified their holdings of TME. Activest Wealth Management purchased a new stake in shares of Tencent Music Entertainment Group during the third quarter worth about $28,000. Boothbay Fund Management LLC purchased a new stake in shares of Tencent Music Entertainment Group during the third quarter worth about $46,000. Founders Financial Securities LLC purchased a new stake in shares of Tencent Music Entertainment Group during the second quarter worth about $50,000. Cerity Partners LLC purchased a new stake in shares of Tencent Music Entertainment Group during the second quarter worth about $51,000. Finally, HighTower Advisors LLC purchased a new stake in shares of Tencent Music Entertainment Group during the first quarter worth about $51,000. Hedge funds and other institutional investors own 21.77% of the company's stock.
About Tencent Music Entertainment Group
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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.
Further Reading
- Get a free copy of the StockNews.com research report on Tencent Music Entertainment Group (TME)
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