Tencent Music Entertainment Group (NYSE:TME – Get Rating)'s share price traded down 5.2% during trading on Monday . The stock traded as low as $7.96 and last traded at $7.98. 1,477,665 shares were traded during trading, a decline of 80% from the average session volume of 7,538,349 shares. The stock had previously closed at $8.42.
Analyst Ratings Changes
TME has been the topic of several analyst reports. Daiwa Capital Markets initiated coverage on Tencent Music Entertainment Group in a report on Friday, January 13th. They set a "buy" rating on the stock. Morgan Stanley upgraded Tencent Music Entertainment Group from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $4.50 to $8.50 in a report on Thursday, December 1st. 86 Research downgraded Tencent Music Entertainment Group from a "buy" rating to a "hold" rating in a report on Thursday, January 19th. The Goldman Sachs Group upgraded Tencent Music Entertainment Group from a "sell" rating to a "neutral" rating and lifted their price objective for the stock from $5.00 to $8.00 in a report on Monday, January 9th. Finally, JPMorgan Chase & Co. started coverage on Tencent Music Entertainment Group in a report on Monday, January 30th. They set an "overweight" rating on the stock. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $7.02.
Get Tencent Music Entertainment Group alerts:Tencent Music Entertainment Group Stock Down 1.7 %
The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.15 and a current ratio of 2.15. The firm has a market capitalization of $14.04 billion, a P/E ratio of 30.07, a P/E/G ratio of 0.74 and a beta of 0.78. The stock has a fifty day moving average price of $8.19 and a two-hundred day moving average price of $5.76.
Tencent Music Entertainment Group (NYSE:TME – Get Rating) last issued its quarterly earnings results on Tuesday, November 15th. The company reported $0.10 earnings per share for the quarter, beating analysts' consensus estimates of $0.08 by $0.02. Tencent Music Entertainment Group had a return on equity of 6.74% and a net margin of 10.61%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. Research analysts forecast that Tencent Music Entertainment Group will post 0.37 EPS for the current year.Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Activest Wealth Management acquired a new position in Tencent Music Entertainment Group during the 3rd quarter valued at approximately $28,000. Boothbay Fund Management LLC acquired a new position in Tencent Music Entertainment Group during the 3rd quarter worth $46,000. Founders Financial Securities LLC acquired a new position in Tencent Music Entertainment Group during the 2nd quarter worth $50,000. Cerity Partners LLC acquired a new position in Tencent Music Entertainment Group during the 2nd quarter worth $51,000. Finally, HighTower Advisors LLC acquired a new position in Tencent Music Entertainment Group during the 1st quarter worth $51,000. Institutional investors and hedge funds own 21.77% of the company's stock.
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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