Tencent Music Entertainment Group (NYSE:TME) Given Consensus Rating of "Moderate Buy" by Analysts

Tencent Music Entertainment Group (NYSE:TME - Get Free Report) has been given an average rating of "Moderate Buy" by the ten ratings firms that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $15.00.

TME has been the topic of several analyst reports. Mizuho increased their price target on Tencent Music Entertainment Group from $16.00 to $17.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 19th. Sanford C. Bernstein reiterated an "outperform" rating on shares of Tencent Music Entertainment Group in a report on Wednesday. Deutsche Bank Aktiengesellschaft upgraded shares of Tencent Music Entertainment Group from a "hold" rating to a "buy" rating in a report on Wednesday, March 26th. Morgan Stanley restated an "overweight" rating on shares of Tencent Music Entertainment Group in a research note on Tuesday. Finally, Nomura Securities upgraded shares of Tencent Music Entertainment Group to a "strong-buy" rating in a research note on Tuesday, April 8th.

Hedge Funds Weigh In On Tencent Music Entertainment Group

Hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its position in Tencent Music Entertainment Group by 10.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,138 shares of the company's stock valued at $126,000 after purchasing an additional 1,094 shares during the last quarter. BNP Paribas raised its position in shares of Tencent Music Entertainment Group by 2.0% during the 4th quarter. BNP Paribas now owns 58,066 shares of the company's stock worth $659,000 after buying an additional 1,131 shares in the last quarter. Corient Private Wealth LLC raised its position in shares of Tencent Music Entertainment Group by 4.2% during the 4th quarter. Corient Private Wealth LLC now owns 33,708 shares of the company's stock worth $383,000 after buying an additional 1,370 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Tencent Music Entertainment Group by 3.9% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 51,636 shares of the company's stock worth $586,000 after purchasing an additional 1,923 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its holdings in shares of Tencent Music Entertainment Group by 5.7% in the 4th quarter. Quadrant Capital Group LLC now owns 36,604 shares of the company's stock worth $415,000 after purchasing an additional 1,981 shares in the last quarter. 24.32% of the stock is currently owned by institutional investors and hedge funds.

Tencent Music Entertainment Group Stock Up 1.9%

Tencent Music Entertainment Group stock traded up $0.32 during mid-day trading on Monday, reaching $16.68. 1,621,610 shares of the company were exchanged, compared to its average volume of 8,227,423. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.34 and a current ratio of 2.34. The business has a fifty day moving average of $13.56 and a 200 day moving average of $12.43. Tencent Music Entertainment Group has a 12-month low of $9.41 and a 12-month high of $17.05. The firm has a market cap of $28.62 billion, a P/E ratio of 30.86, a PEG ratio of 0.77 and a beta of 0.46.

Tencent Music Entertainment Group Increases Dividend

The company also recently declared an annual dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 3rd were paid a $0.18 dividend. This represents a yield of 0.9%. This is an increase from Tencent Music Entertainment Group's previous annual dividend of $0.12. The ex-dividend date was Thursday, April 3rd. Tencent Music Entertainment Group's dividend payout ratio (DPR) is 28.81%.

About Tencent Music Entertainment Group

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.