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

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

A number of research firms have commented on TME. Mizuho raised their price objective on Tencent Music Entertainment Group from $16.00 to $17.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 19th. Sanford C. Bernstein reiterated an "outperform" rating on shares of Tencent Music Entertainment Group in a research note on Wednesday, May 14th. Morgan Stanley reiterated an "overweight" rating on shares of Tencent Music Entertainment Group in a research note on Tuesday, May 13th. Nomura Securities upgraded Tencent Music Entertainment Group to a "strong-buy" rating in a research note on Tuesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded Tencent Music Entertainment Group from a "hold" rating to a "buy" rating in a research note on Wednesday, March 26th.

Institutional Investors Weigh In On Tencent Music Entertainment Group

A number of hedge funds and other institutional investors have recently bought and sold shares of TME. PNC Financial Services Group Inc. grew its position in shares of 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 buying an additional 1,094 shares during the last quarter. BNP Paribas grew its position in shares of Tencent Music Entertainment Group by 2.0% in the 4th quarter. BNP Paribas now owns 58,066 shares of the company's stock valued at $659,000 after buying an additional 1,131 shares during the last quarter. Corient Private Wealth LLC grew its position in shares of Tencent Music Entertainment Group by 4.2% in the 4th quarter. Corient Private Wealth LLC now owns 33,708 shares of the company's stock valued at $383,000 after buying an additional 1,370 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position 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 valued at $586,000 after buying an additional 1,923 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its position 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 valued at $415,000 after buying an additional 1,981 shares during the last quarter. Institutional investors own 24.32% of the company's stock.

Tencent Music Entertainment Group Price Performance

Tencent Music Entertainment Group stock traded up $0.60 during mid-day trading on Friday, reaching $18.56. 8,982,511 shares of the company were exchanged, compared to its average volume of 8,160,745. The company has a fifty day simple moving average of $14.77 and a 200-day simple moving average of $13.17. Tencent Music Entertainment Group has a 12 month low of $9.41 and a 12 month high of $18.82. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.34 and a quick ratio of 2.34. The firm has a market cap of $31.85 billion, a PE ratio of 34.37, a PEG ratio of 0.77 and a beta of 0.51.

Tencent Music Entertainment Group Increases Dividend

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

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.