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PFE   32.07 (-0.09%)
PYPL   57.72 (+0.66%)
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NYSE:TME

Tencent Music Entertainment Group (TME) Stock Forecast, Price & News

$6.31
+0.03 (+0.48%)
(As of 09:39 AM ET)
Compare
Today's Range
$6.26
▼
$6.31
50-Day Range
$6.03
▼
$7.13
52-Week Range
$3.14
▼
$9.29
Volume
250,113 shs
Average Volume
6.80 million shs
Market Capitalization
$10.83 billion
P/E Ratio
15.02
Dividend Yield
N/A
Price Target
$8.72
ProfileAnalyst RatingsChartCompetitorsEarningsFinancialsInstitutional OwnershipHeadlinesOptions ChainSEC FilingsShort InterestSocial Media

Tencent Music Entertainment Group MarketRank™ Forecast

Analyst Rating
Moderate Buy
2.55 Rating Score
Upside/​Downside
38.9% Upside
$8.72 Price Target
Short Interest
Healthy
1.87% of Float Sold Short
Dividend Strength
N/A
Sustainability
N/A
News Sentiment
1.20mentions of Tencent Music Entertainment Group in the last 14 days
Based on 3 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
15.22%
From $0.46 to $0.53 Per Share

Overall MarketRank™

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.66 out of 5 stars

Computer And Technology Sector

101st out of 606 stocks

Radio Broadcasting Stations Industry

4th out of 10 stocks

See Top Rated MarketRank™ Stocks Here

TME stock logo

About Tencent Music Entertainment Group (NYSE:TME) Stock

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; and WeSing, which enables users to sing from its library of karaoke songs and share their performances in audio or video formats with friends. The company also operates QQ Music, Kugou Music, Kuwo Music, WeSing, Kugou Live, and Kuwo Live that provides an interactive online stage for performers and users to showcase their talent and engage with a diverse audience base; and Lazy Audio, an audio platform. In addition, it sells music-related merchandise, including Kugou headsets, smart speakers, WeSing karaoke microphones, and Hi-Fi systems; and offers online music event ticketing services, as well as services to smart device and automobile makers to build and operate music services on devices and vehicles. The company is based in Shenzhen, China. Tencent Music Entertainment Group is a subsidiary of Tencent Holdings Limited.

TME Price History

TME Stock News Headlines

September 28, 2023 | finance.yahoo.com
Tencent Music Entertainment Group: Tencent Music's Long-Term Earnings Growth Fueled by Subscriber Increase, Margin Improvements
September 24, 2023 | americanbankingnews.com
Tencent Music Entertainment Group (NYSE:TME) Shares Gap Up to $6.02
September 28, 2023 | Wall Street Fundamentals (Ad)
Would Buffett Approve of This Growth Strategy?
Warren Buffett's approach has been to find and invest in undervalued businesses with strong potential for growth. Taking this approach to heart and applying it to a Trillion Dollar industry has proved itself in a big way...achieving an incredible 400+% growth during a down market.
September 22, 2023 | finance.yahoo.com
Unveiling Tencent Music Entertainment Group's Value: Is It Really Priced Right? A Comprehensive ...
September 20, 2023 | americanbankingnews.com
Brokerages Set Tencent Music Entertainment Group (NYSE:TME) Target Price at $8.72
September 20, 2023 | americanbankingnews.com
Tencent Music Entertainment Group (NYSE:TME) Receives Average Recommendation of "Moderate Buy" from Brokerages
September 20, 2023 | yahoo.com
Billboard China & TME Partner to Release ‘THE ONE Endless Dream’ Album
August 25, 2023 | finance.yahoo.com
China online platforms scrap lucky draw features amid gambling crackdown
September 28, 2023 | Wall Street Fundamentals (Ad)
Would Buffett Approve of This Growth Strategy?
Warren Buffett's approach has been to find and invest in undervalued businesses with strong potential for growth. Taking this approach to heart and applying it to a Trillion Dollar industry has proved itself in a big way...achieving an incredible 400+% growth during a down market.
August 18, 2023 | msn.com
Citigroup Maintains Tencent Music Entertainment Group - ADR (TME) Neutral Recommendation
August 18, 2023 | seekingalpha.com
Tencent Music: Post-Earnings Stock Price Outperformance Isn't Sustainable
August 17, 2023 | msn.com
B of A Securities Maintains Tencent Music Entertainment Group - ADR (TME) Buy Recommendation
August 17, 2023 | insidermonkey.com
Tencent Music Entertainment Group (NYSE:TME) Q2 2023 Earnings Call Transcript
August 16, 2023 | markets.businessinsider.com
Analysts Offer Insights on Technology Companies: Tencent Music Entertainment Group (TME), Upwork (UPWK) and Zoom Video Communications (ZM)
August 16, 2023 | msn.com
Tencent Music's quarterly revenue rises but warns of decline ahead
August 16, 2023 | finance.yahoo.com
Tencent Music Entertainment Group: Tencent Music Earnings: Business Adjustments Weigh on Revenue Outlook but Margin Expansion Intact
August 16, 2023 | markets.businessinsider.com
Jefferies Sticks to Their Buy Rating for Tencent Music Entertainment Group (TME)
August 16, 2023 | finance.yahoo.com
Q2 2023 Tencent Music Entertainment Group Earnings Call
August 15, 2023 | msn.com
Tencent Music's Q2 revenue grows on the back of online music subscriptions
August 15, 2023 | msn.com
Tencent Music Passes 100 Million Subscriber Landmark as Quarterly Profits Soar
August 15, 2023 | finance.yahoo.com
This Spotify Rival From China Just Saw Its MAUs Dip in Q2, Stock Slides
August 15, 2023 | ca.finance.yahoo.com
Tencent Music's quarterly revenue rises as more Chinese users pay for music
August 15, 2023 | finance.yahoo.com
UPDATE 3-Tencent Music's quarterly revenue rises as more Chinese users pay for music
August 14, 2023 | markets.businessinsider.com
Here's what Wall Street expects from Tencent Music Entertainment Group Registered A's earnings report
August 14, 2023 | benzinga.com
Earnings Outlook For Tencent Music Enter Gr
August 3, 2023 | msn.com
Tencent Music Entertainment Group - ADR (TME) Price Target Decreased by 5.77% to 9.53
August 1, 2023 | 247wallst.com
Citigroup Downgrades Tencent Music Entertainment Group
See More Headlines
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TME Company Calendar

Last Earnings
8/15/2023
Today
9/28/2023
Next Earnings (Estimated)
11/21/2023
Fiscal Year End
12/31/2023
Get Stock Alerts

Industry, Sector and Symbol

Stock Exchange
NYSE
Industry
Radio broadcasting stations
Sub-Industry
N/A
Sector
Computer and Technology
Current Symbol
NYSE:TME
CUSIP
N/A
CIK
1744676
Web
www.tencentmusic.com
Phone
8675586013388
Fax
N/A
Employees
5,805
Year Founded
2016

Price Target and Rating

Average Stock Price Forecast
$8.72
High Stock Price Forecast
$11.00
Low Stock Price Forecast
$7.00
Forecasted Upside/Downside
+38.9%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.55
Research Coverage
11 Analysts

Profitability

EPS (Most Recent Fiscal Year)
$0.42
Trailing P/E Ratio
14.95
Forward P/E Ratio
13.65
P/E Growth
0.7
Net Income
$546.40 million
Net Margins
16.00%
Pretax Margin
19.14%
Return on Equity
9.87%
Return on Assets
7.32%

Debt

Debt-to-Equity Ratio
0.11
Current Ratio
2.50
Quick Ratio
2.50

Sales & Book Value

Annual Sales
$4.11 billion
Price / Sales
2.62
Cash Flow
$0.44 per share
Price / Cash Flow
14.38
Book Value
$4.25 per share
Price / Book
1.48

Miscellaneous

Outstanding Shares
1,716,080,000
Free Float
N/A
Market Cap
$10.78 billion
Optionable
Optionable
Beta
0.81

Social Links

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Key Executives

  • Mr. Kar Shun Pang (Age 49)
    Exec. Chairman
  • Mr. Zhu Liang (Age 46)
    CEO & Director
  • Mr. Zhenyu Xie (Age 48)
    Pres, CTO & Director
  • Ms. Min Hu (Age 50)
    Chief Financial Officer
  • Mr. Tsai Chun Pan (Age 49)
    Group VP & Head of Content Cooperation Bus.
  • Mr. Lixue Shi (Age 48)
    Group VP & Head of Kuwo Bus. Unit
  • Ms. Linlin Chen (Age 42)
    Group VP & Head of Kugou Bus. Unit
  • Millicent T.
    Vice Gen. Mang.
  • Ms. Heather Diwu
    Investor Relations Officer

Key Competitors

View All Competitors

Institutional Ownership

View All Institutional Transactions













TME Stock - Frequently Asked Questions

Should I buy or sell Tencent Music Entertainment Group stock right now?

11 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Tencent Music Entertainment Group in the last year. There are currently 5 hold ratings and 6 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "moderate buy" TME shares.
View TME analyst ratings or view top-rated stocks.

What is Tencent Music Entertainment Group's stock price forecast for 2023?

11 Wall Street analysts have issued twelve-month price targets for Tencent Music Entertainment Group's stock. Their TME share price forecasts range from $7.00 to $11.00. On average, they expect the company's share price to reach $8.72 in the next twelve months. This suggests a possible upside of 38.9% from the stock's current price.
View analysts price targets for TME or view top-rated stocks among Wall Street analysts.

How have TME shares performed in 2023?

Tencent Music Entertainment Group's stock was trading at $8.28 at the beginning of the year. Since then, TME shares have decreased by 24.2% and is now trading at $6.28.
View the best growth stocks for 2023 here.

Are investors shorting Tencent Music Entertainment Group?

Tencent Music Entertainment Group saw a decline in short interest during the month of August. As of August 31st, there was short interest totaling 12,700,000 shares, a decline of 20.0% from the August 15th total of 15,870,000 shares. Based on an average daily trading volume, of 7,410,000 shares, the days-to-cover ratio is presently 1.7 days. Currently, 1.8% of the company's shares are sold short.
View Tencent Music Entertainment Group's Short Interest.

When is Tencent Music Entertainment Group's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Tuesday, November 21st 2023.
View our TME earnings forecast.

How were Tencent Music Entertainment Group's earnings last quarter?

Tencent Music Entertainment Group (NYSE:TME) announced its quarterly earnings data on Tuesday, August, 15th. The company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.88 by $0.06. The company earned $7.29 billion during the quarter, compared to the consensus estimate of $7.30 billion. Tencent Music Entertainment Group had a trailing twelve-month return on equity of 9.87% and a net margin of 16.00%. The business's quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.07 EPS.

What ETFs hold Tencent Music Entertainment Group's stock?

ETFs with the largest weight of Tencent Music Entertainment Group (NYSE:TME) stock in their portfolio include Principal Millennial Global Growth ETF (GENY), Global X Emerging Markets Internet & Ecommerce ETF (EWEB), Global X Social Media ETF (SOCL), KraneShares CSI China Internet ETF (KWEB), Invesco Golden Dragon China ETF (PGJ), MUSQ Global Music Industry ETF (MUSQ), First Trust S-Network Streaming and Gaming ETF (BNGE) and AdvisorShares Dorsey Wright ADR ETF (AADR).

What other stocks do shareholders of Tencent Music Entertainment Group own?

Based on aggregate information from My MarketBeat watchlists, some companies that other Tencent Music Entertainment Group investors own include Alibaba Group (BABA), NVIDIA (NVDA), Advanced Micro Devices (AMD), iQIYI (IQ), Roku (ROKU), Netflix (NFLX), JD.com (JD), Johnson & Johnson (JNJ), Block (SQ) and Walt Disney (DIS).

When did Tencent Music Entertainment Group IPO?

(TME) raised $1.1 billion in an initial public offering on Wednesday, December 12th 2018. The company issued 82,000,000 shares at $13.00-$15.00 per share. Morgan Stanley, Goldman Sachs (Asia), J.P. Morgan, Deutsche Bank Securities and BofA Merrill Lynch served as the underwriters for the IPO and Credit Suisse, CICC, Allen & Company, BOCI, China Renaissance. HSBC, KeyBanc Capital Markets and Stifel were co-managers.

What is Tencent Music Entertainment Group's stock symbol?

Tencent Music Entertainment Group trades on the New York Stock Exchange (NYSE) under the ticker symbol "TME."

Who are Tencent Music Entertainment Group's major shareholders?

Tencent Music Entertainment Group's stock is owned by a variety of retail and institutional investors. Top institutional investors include Canada Pension Plan Investment Board (2.21%), BlackRock Inc. (1.98%), Baillie Gifford & Co. (1.70%), Krane Funds Advisors LLC (1.21%), Acadian Asset Management LLC (0.92%) and State Street Corp (0.74%).

How do I buy shares of Tencent Music Entertainment Group?

Shares of TME stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.

What is Tencent Music Entertainment Group's stock price today?

One share of TME stock can currently be purchased for approximately $6.28.

How much money does Tencent Music Entertainment Group make?

Tencent Music Entertainment Group (NYSE:TME) has a market capitalization of $10.78 billion and generates $4.11 billion in revenue each year. The company earns $546.40 million in net income (profit) each year or $0.42 on an earnings per share basis.

How many employees does Tencent Music Entertainment Group have?

The company employs 5,805 workers across the globe.

How can I contact Tencent Music Entertainment Group?

Tencent Music Entertainment Group's mailing address is 17/F MALATA BUILDING KEJIZHONGYI ROAD MIDWEST DISTRICT OF HI-TECH PARK, SHENZHEN F4, 518057. The official website for the company is www.tencentmusic.com. The company can be reached via phone at 8675586013388 or via email at tme@tpg-ir.com.

This page (NYSE:TME) was last updated on 9/28/2023 by MarketBeat.com Staff

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