NYSE:TME

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

$6.38

+0.15 (+2.41%)

(As of 09/29/2023 ET)

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Today's Range: $6.36
▼
$6.49
50-Day Range: $6.03
▼
$7.13
52-Week Range: $3.14
▼
$9.29

Volume: 5.57 million shs
Average Volume: 5.95 million shs
Market Capitalization: $10.95 billion

P/E Ratio: 15.19
Dividend Yield: N/A
Price Target: $8.72

Tencent Music Entertainment Group MarketRank™ Forecast

Analyst Rating: Moderate Buy
2.55 Rating Score
Upside/Downside: 36.7% Upside
$8.72 Price Target
Short Interest: Healthy
1.87% of Float Sold Short
Dividend Strength: N/A
Sustainability: N/A
News Sentiment: 1.38
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.

2.67 out of 5 stars

Computer And Technology Sector

127th out of 606 stocks

Radio Broadcasting Stations Industry

3rd out of 10 stocks

3.3

Analyst's Opinion

Consensus Rating
Tencent Music Entertainment Group has received a consensus rating of Moderate Buy. The company's average rating score is 2.55, and is based on 6 buy ratings, 5 hold ratings, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $8.72, Tencent Music Entertainment Group has a forecasted upside of 36.7% from its current price of $6.38.
Amount of Analyst Coverage
Tencent Music Entertainment Group has only been the subject of 3 research reports in the past 90 days.

3.0

Short Interest

Percentage of Shares Shorted
1.87% of the float of Tencent Music Entertainment Group has been sold short.
Short Interest Ratio / Days to Cover
Tencent Music Entertainment Group has a short interest ratio ("days to cover") of 1.9, which is generally considered an acceptable ratio of short interest to trading volume.
Change versus previous month
Short interest in Tencent Music Entertainment Group has recently increased by 2.20%, indicating that investor sentiment is decreasing.

0.0

Dividend Strength

Dividend Yield
Tencent Music Entertainment Group does not currently pay a dividend.
Dividend Growth
Tencent Music Entertainment Group does not have a long track record of dividend growth.

N/A

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
There is no current Upright™ data available for TME.

2.4

News and Social Media Coverage

News Sentiment
Tencent Music Entertainment Group has a news sentiment score of 1.38. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.63 average news sentiment score of Computer and Technology companies.
News Coverage This Week
MarketBeat has tracked 3 news articles for Tencent Music Entertainment Group this week, compared to 4 articles on an average week.
Search Interest
Only 2 people have searched for TME on MarketBeat in the last 30 days. This is a decrease of -60% compared to the previous 30 days.
MarketBeat Follows
Only 4 people have added Tencent Music Entertainment Group to their MarketBeat watchlist in the last 30 days. This is a decrease of -20% compared to the previous 30 days.

0.0

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Tencent Music Entertainment Group insiders have not sold or bought any company stock.
Percentage Held by Institutions
Only 23.59% of the stock of Tencent Music Entertainment Group is held by institutions.

4.4

Earnings and Valuation

Earnings Growth
Earnings for Tencent Music Entertainment Group are expected to grow by 15.22% in the coming year, from $0.46 to $0.53 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Tencent Music Entertainment Group is 15.19, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 106.66.
Price to Earnings Ratio vs. Sector
The P/E ratio of Tencent Music Entertainment Group is 15.19, which means that it is trading at a less expensive P/E ratio than the Computer and Technology sector average P/E ratio of about 220.86.
Price to Earnings Growth Ratio
Tencent Music Entertainment Group has a PEG Ratio of 0.71. PEG Ratios below 1 indicate that a company could be undervalued.
Price to Book Value per Share Ratio
Tencent Music Entertainment Group has a P/B Ratio of 1.50. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

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

30 days | 90 days | 365 days | Advanced Chart

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

October 1, 2023 | Behind the Markets (Ad)

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September 22, 2023 | finance.yahoo.com

Unveiling Tencent Music Entertainment Group's Value: Is It Really Priced Right? A Comprehensive ...

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

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

October 1, 2023 | Behind the Markets (Ad)

The single greatest medical breakthrough of all time?

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

August 1, 2023 | msn.com

Citigroup Downgrades Tencent Music Entertainment Group - ADR (TME)

July 31, 2023 | msn.com

Tencent Music falls after Citi downgrades on challenging live streaming outlook

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TME Company Calendar

Last Earnings: 8/15/2023
Today: 10/01/2023
Next Earnings (Estimated): 11/21/2023
Fiscal Year End: 12/31/2023

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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: +36.7%
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: 15.19
Forward P/E Ratio: 13.87
P/E Growth: 0.71
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: 2.66
Cash Flow: $0.44 per share
Price / Cash Flow: 14.56
Book Value: $4.25 per share
Price / Book: 1.50

Miscellaneous

Outstanding Shares: 1,716,080,000
Free Float: N/A
Market Cap: $10.95 billion
Optionable: Optionable
Beta: 0.81

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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 equities research analysts have issued 1 year price targets for Tencent Music Entertainment Group's stock. Their TME share price forecasts range from $7.00 to $11.00. On average, they predict the company's stock price to reach $8.72 in the next year. This suggests a possible upside of 36.7% 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 2023. Since then, TME shares have decreased by 22.9% and is now trading at $6.38.
View the best growth stocks for 2023 here.
Are investors shorting Tencent Music Entertainment Group?: Tencent Music Entertainment Group saw a decrease in short interest in the month of August. As of August 31st, there was short interest totaling 12,700,000 shares, a decrease 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 short-interest ratio is currently 1.7 days. Approximately 1.8% of the shares of the stock are short sold.
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) issued its earnings results 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 business earned $7.29 billion during the quarter, compared to analysts' expectations of $7.30 billion. Tencent Music Entertainment Group had a net margin of 16.00% and a trailing twelve-month return on equity of 9.87%. The company's revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the firm earned $0.07 earnings per share.
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 Index 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 a price of $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."
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 $6.38.
How much money does Tencent Music Entertainment Group make?: Tencent Music Entertainment Group (NYSE:TME) has a market capitalization of $10.95 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 10/1/2023 by MarketBeat.com Staff

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