Tencent Music Entertainment Group (NYSE:TME) Shares Gap Down to $15.42

Tencent Music Entertainment Group (NYSE:TME - Get Free Report)'s share price gapped down before the market opened on Monday . The stock had previously closed at $15.42, but opened at $15.10. Tencent Music Entertainment Group shares last traded at $15.28, with a volume of 1,064,793 shares.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on TME shares. Benchmark boosted their target price on Tencent Music Entertainment Group from $14.00 to $19.00 and gave the stock a "buy" rating in a research report on Tuesday, May 14th. Citigroup upgraded Tencent Music Entertainment Group from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $9.00 to $13.00 in a research report on Wednesday, March 20th. Bank of America boosted their target price on Tencent Music Entertainment Group from $10.50 to $12.30 and gave the stock a "buy" rating in a research report on Wednesday, March 20th. Morgan Stanley increased their price objective on Tencent Music Entertainment Group from $11.00 to $13.50 and gave the company an "overweight" rating in a research report on Wednesday, March 20th. Finally, UBS Group upgraded Tencent Music Entertainment Group from a "neutral" rating to a "buy" rating and set a $10.50 price objective on the stock in a research report on Wednesday, January 24th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $12.75.

Tencent Music Entertainment Group Price Performance

The company has a market capitalization of $26.22 billion, a PE ratio of 33.22, a PEG ratio of 0.94 and a beta of 0.77. The firm has a fifty day moving average of $12.19 and a two-hundred day moving average of $10.12. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.09.

Tencent Music Entertainment Group (NYSE:TME - Get Free Report) last issued its earnings results on Tuesday, March 19th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.01. The company had revenue of $971.00 million during the quarter, compared to analysts' expectations of $925.06 million. Tencent Music Entertainment Group had a return on equity of 9.85% and a net margin of 18.88%. Research analysts anticipate that Tencent Music Entertainment Group will post 0.58 EPS for the current fiscal year.

Tencent Music Entertainment Group Announces Dividend

The business also recently announced an annual dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, May 31st will be issued a dividend of $0.121 per share. This represents a yield of 0.78%. The ex-dividend date of this dividend is Friday, May 31st.

Institutional Investors Weigh In On Tencent Music Entertainment Group

Institutional investors have recently bought and sold shares of the stock. Tobam purchased a new stake in Tencent Music Entertainment Group in the 4th quarter worth approximately $36,000. Headinvest LLC purchased a new stake in Tencent Music Entertainment Group in the 3rd quarter worth approximately $39,000. Lindbrook Capital LLC lifted its holdings in Tencent Music Entertainment Group by 40.9% in the 4th quarter. Lindbrook Capital LLC now owns 7,036 shares of the company's stock worth $63,000 after buying an additional 2,044 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in Tencent Music Entertainment Group in the 3rd quarter worth approximately $64,000. Finally, QRG Capital Management Inc. purchased a new stake in Tencent Music Entertainment Group in the 3rd quarter worth approximately $75,000. 24.32% of the stock is currently owned by hedge funds and other institutional investors.

Tencent Music Entertainment Group Company Profile

Tencent Music Entertainment Group operates online music entertainment platforms to provide music streaming, online karaoke, and live streaming services in the People's Republic of China. It offers QQ Music, Kugou Music, and Kuwo Music that enable users to discover music in personalized ways; long-form audio content, including audiobooks, podcasts and talk shows, as well as music-oriented video content comprising music videos, live performances, and short videos; and WeSing, which enables users to sing along from its library of karaoke songs and share their performances in audio or video formats with friends.