Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) Stock Now Rated "Hold" by Wall Street Brokerages

Key Points

• Analysts broadly rate Tencent Music “Hold”: Nine of 13 covering firms recommend holding the stock, while three rate it a buy and one a strong buy. The average 12-month price target is $17.21.
• TME opened at $8.64, near the lower end of its 12-month range of $7.66 to $23.85, with a market capitalization of $13.61 billion and a P/E ratio of 10.67.
• The company reported quarterly EPS of $0.25 on revenue of $1.31 billion, with a 26.27% net margin. Institutional investors and hedge funds own 24.32% of the stock.

Tencent Music Entertainment Group Sponsored ADR (NYSE:TME - Get Free Report) has been given an average recommendation of "Hold" by the thirteen ratings firms that are covering the stock, MarketBeat Ratings reports. Nine analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $17.21.

A number of equities analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Tencent Music Entertainment Group in a research note on Monday, September 28th. China Renaissance upgraded Tencent Music Entertainment Group from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 14th. Mizuho reduced their price objective on Tencent Music Entertainment Group from $18.00 to $15.00 and set an "outperform" rating for the company in a research report on Wednesday, August 12th. UBS Group set a $15.00 target price on Tencent Music Entertainment Group in a research note on Wednesday, August 12th. Finally, Nomura set a $10.00 target price on Tencent Music Entertainment Group and gave the company a "neutral" rating in a research note on Thursday, August 13th.

Tencent Music Entertainment Group Stock Up 0.2%

Tencent Music Entertainment Group stock opened at $8.64 on Tuesday. Tencent Music Entertainment Group has a twelve month low of $7.66 and a twelve month high of $23.85. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.74 and a current ratio of 1.74. The firm has a market cap of $13.61 billion, a PE ratio of 10.67, a P/E/G ratio of 1.51 and a beta of 0.78. The firm's 50 day moving average price is $8.32 and its two-hundred day moving average price is $8.84.

Tencent Music Entertainment Group (NYSE:TME - Get Free Report) last issued its earnings results on Tuesday, June 30th. The company reported $0.25 earnings per share (EPS) for the quarter. The company had revenue of $1.31 billion during the quarter. Tencent Music Entertainment Group had a net margin of 26.27% and a return on equity of 11.53%. On average, research analysts predict that Tencent Music Entertainment Group will post 0.87 EPS for the current fiscal year.

Institutional Investors Weigh In On Tencent Music Entertainment Group

Several institutional investors have recently made changes to their positions in TME. NewEdge Wealth LLC bought a new stake in shares of Tencent Music Entertainment Group in the 1st quarter valued at approximately $106,000. Encompass More Asset Management bought a new position in Tencent Music Entertainment Group during the third quarter valued at approximately $92,000. Summit Securities Group LLC bought a new position in Tencent Music Entertainment Group during the first quarter valued at approximately $110,000. Avise Financial Cooperative Inc. acquired a new stake in Tencent Music Entertainment Group in the second quarter valued at approximately $101,000. Finally, Sax Wealth Advisors LLC acquired a new stake in Tencent Music Entertainment Group in the third quarter valued at approximately $98,000. 24.32% of the stock is currently owned by institutional investors and hedge funds.

About Tencent Music Entertainment Group

Tencent Music Entertainment Group is a China-based online music and audio entertainment company. Established in 2016 through the combination of Tencent's online music businesses, the company operates digital platforms that provide music streaming, audio content and interactive entertainment services.

Its principal services include QQ Music, Kugou Music and Kuwo Music, which offer licensed songs, playlists, music videos, podcasts and other audio programming. Tencent Music also operates WeSing, a social karaoke platform that enables users to sing, record and share performances.

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