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

Shares of Tencent Music Entertainment Group Sponsored ADR (NYSE:TME - Get Free Report) have earned a consensus rating of "Moderate Buy" from the eleven research firms that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $16.60.

Several equities research analysts have recently issued reports on the stock. Nomura Securities upgraded shares of Tencent Music Entertainment Group to a "strong-buy" rating in a research note on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft raised shares of Tencent Music Entertainment Group from a "hold" rating to a "buy" rating in a research report on Wednesday, March 26th. Mizuho lifted their target price 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 restated an "outperform" rating on shares of Tencent Music Entertainment Group in a research note on Wednesday, May 14th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of Tencent Music Entertainment Group in a report on Tuesday, May 13th.

Hedge Funds Weigh In On Tencent Music Entertainment Group

A number of hedge funds have recently modified their holdings of the stock. SVB Wealth LLC bought a new stake in Tencent Music Entertainment Group in the first quarter valued at $34,000. Banque Transatlantique SA acquired a new stake in shares of Tencent Music Entertainment Group in the 1st quarter valued at $46,000. Brooklyn Investment Group grew its holdings in shares of Tencent Music Entertainment Group by 957.1% in the 1st quarter. Brooklyn Investment Group now owns 4,757 shares of the company's stock worth $69,000 after purchasing an additional 4,307 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Tencent Music Entertainment Group in the 4th quarter worth about $110,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of Tencent Music Entertainment Group during the 4th quarter worth about $114,000. 24.32% of the stock is owned by institutional investors and hedge funds.

Tencent Music Entertainment Group Stock Performance

Shares of Tencent Music Entertainment Group stock traded up $0.29 during trading on Tuesday, reaching $19.46. The company's stock had a trading volume of 3,277,557 shares, compared to its average volume of 8,151,973. Tencent Music Entertainment Group has a one year low of $9.41 and a one year high of $19.58. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.83 and a current ratio of 1.83. The firm has a market cap of $33.39 billion, a price-to-earnings ratio of 23.17 and a beta of 0.55. The business's fifty day moving average price is $16.99 and its 200-day moving average price is $14.01.

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.