Tencent Music Entertainment Group Sponsored ADR (TME) - What Are Investment Firms Saying About This Stock?

Key Points

• Analyst sentiment is mostly neutral: Twelve firms rate Tencent Music a “Hold” on average—eight holds, three buys, and one strong buy—with a mean 12-month price target of $15.48.
• Recent ratings were mixed: Nomura downgraded the stock to neutral with a $10 target, while China Renaissance upgraded it to strong buy; Mizuho cut its target to $15 but maintained an outperform rating.
• Shares opened at $9.03, within a 52-week range of $7.66–$19.45. Hedge funds and other institutions own 24.32% of the stock.

Shares of Tencent Music Entertainment Group Sponsored ADR (NYSE:TME - Get Free Report) have been assigned an average recommendation of "Hold" from the twelve ratings firms that are presently covering the firm, MarketBeat reports. Eight research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $15.48.

A number of analysts have recently weighed in on the stock. Nomura downgraded shares of Tencent Music Entertainment Group from a "buy" rating to a "neutral" rating and set a $10.00 target price on the stock. in a research report on Thursday, August 13th. China Renaissance raised shares of Tencent Music Entertainment Group from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 14th. Mizuho lowered their price target on shares of 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 price objective on shares of Tencent Music Entertainment Group in a research note on Wednesday, August 12th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Tencent Music Entertainment Group in a report on Monday, September 28th.

Hedge Funds Weigh In On Tencent Music Entertainment Group

Large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC boosted its position in shares of Tencent Music Entertainment Group by 7.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,268,273 shares of the company's stock worth $40,934,000 after purchasing an additional 350,893 shares in the last quarter. Sei Investments Co. increased its position in Tencent Music Entertainment Group by 10.4% during the 1st quarter. Sei Investments Co. now owns 3,980,820 shares of the company's stock valued at $36,942,000 after buying an additional 374,586 shares in the last quarter. Amundi raised its stake in Tencent Music Entertainment Group by 13.6% during the first quarter. Amundi now owns 3,350,991 shares of the company's stock valued at $31,097,000 after buying an additional 401,396 shares during the last quarter. Carmignac Gestion raised its stake in Tencent Music Entertainment Group by 2,635.9% during the first quarter. Carmignac Gestion now owns 2,881,153 shares of the company's stock valued at $26,740,000 after buying an additional 2,775,843 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in Tencent Music Entertainment Group during the second quarter valued at $21,974,000. 24.32% of the stock is currently owned by hedge funds and other institutional investors.

Tencent Music Entertainment Group Stock Up 0.1%

Shares of NYSE:TME opened at $9.03 on Friday. The firm has a market capitalization of $14.20 billion, a P/E ratio of 11.14, a P/E/G ratio of 1.58 and a beta of 0.76. 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 stock has a 50 day moving average price of $8.41 and a 200-day moving average price of $9.96. Tencent Music Entertainment Group has a 52-week low of $7.66 and a 52-week high of $19.45.

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

About Tencent Music Entertainment Group

Tencent Music Entertainment Group operates online music and music-focused social entertainment services, primarily in China. Its platforms connect listeners, artists, and music-industry partners through streaming, music discovery, and interactive features. The company's services include QQ Music, Kugou Music, and Kuwo Music, which offer digital music streaming and related content. Its social entertainment offerings include WeSing, a karaoke and singing platform, along with live-streaming and other interactive music experiences.

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