Tencent Music Entertainment Group (NYSE:TME) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Shares of Tencent Music Entertainment Group (NYSE:TME - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the ten ratings firms that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts 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 lifted their price target on Tencent Music Entertainment Group from $16.00 to $17.00 and gave the stock an "outperform" rating in a report on Wednesday, March 19th. Nomura Securities upgraded Tencent Music Entertainment Group to a "strong-buy" rating in a report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft upgraded Tencent Music Entertainment Group from a "hold" rating to a "buy" rating in a research report on Wednesday, March 26th. Morgan Stanley reiterated an "overweight" rating on shares of Tencent Music Entertainment Group in a report on Tuesday, May 13th. Finally, Sanford C. Bernstein restated an "outperform" rating on shares of Tencent Music Entertainment Group in a report on Wednesday, May 14th.

Institutional Trading of Tencent Music Entertainment Group

Several hedge funds have recently made changes to their positions in TME. PNC Financial Services Group Inc. grew its stake in shares of Tencent Music Entertainment Group by 10.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,138 shares of the company's stock worth $126,000 after acquiring an additional 1,094 shares in the last quarter. BNP Paribas boosted its holdings in Tencent Music Entertainment Group by 2.0% in the fourth quarter. BNP Paribas now owns 58,066 shares of the company's stock valued at $659,000 after purchasing an additional 1,131 shares during the period. Corient Private Wealth LLC increased its stake in shares of Tencent Music Entertainment Group by 4.2% during the fourth 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 during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Tencent Music Entertainment Group by 3.9% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 51,636 shares of the company's stock worth $586,000 after acquiring an additional 1,923 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in Tencent Music Entertainment Group by 5.7% during the 4th quarter. Quadrant Capital Group LLC now owns 36,604 shares of the company's stock worth $415,000 after acquiring an additional 1,981 shares in the last quarter. Institutional investors and hedge funds own 24.32% of the company's stock.

Tencent Music Entertainment Group Price Performance

Shares of Tencent Music Entertainment Group stock opened at $17.79 on Friday. The stock has a market capitalization of $30.53 billion, a P/E ratio of 32.94, a PEG ratio of 0.77 and a beta of 0.46. The business has a 50 day simple moving average of $14.62 and a two-hundred day simple moving average of $13.05. Tencent Music Entertainment Group has a 12 month low of $9.41 and a 12 month high of $18.06. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.34 and a quick ratio of 2.34.

Tencent Music Entertainment Group Increases Dividend

The company also recently announced an annual dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 3rd were given a $0.18 dividend. This is an increase from Tencent Music Entertainment Group's previous annual dividend of $0.12. This represents a yield of 0.9%. The ex-dividend date of this dividend was Thursday, April 3rd. Tencent Music Entertainment Group's payout ratio is currently 20.24%.

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.

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