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

13 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Tencent Music Entertainment Group in the last year. There are currently 2 hold ratings and 11 buy ratings for the stock. The consensus among Wall Street 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 target for 2024?

13 analysts have issued 12 month target prices for Tencent Music Entertainment Group's stock. Their TME share price targets range from $7.40 to $14.00. On average, they expect the company's share price to reach $11.63 in the next year. This suggests a possible upside of 0.4% 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 2024?

Tencent Music Entertainment Group's stock was trading at $9.01 at the start of the year. Since then, TME shares have increased by 28.5% and is now trading at $11.58. View the best growth stocks for 2024 here .

Are investors shorting Tencent Music Entertainment Group?

Tencent Music Entertainment Group saw a decrease in short interest in the month of March. As of March 31st, there was short interest totaling 21,000,000 shares, a decrease of 31.4% from the March 15th total of 30,590,000 shares. Based on an average daily volume of 8,980,000 shares, the short-interest ratio is presently 2.3 days. Approximately 2.9% 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 Monday, May 13th 2024. View our TME earnings forecast .

How can I listen to Tencent Music Entertainment Group's earnings call?

Tencent Music Entertainment Group will be holding an earnings conference call on Monday, May 13th at 7:00 AM Eastern. Interested parties can register for or listen to the call using this link .

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

Tencent Music Entertainment Group (NYSE:TME) posted its quarterly earnings results on Tuesday, March, 19th. The company reported $0.13 EPS for the quarter, beating analysts' consensus estimates of $0.12 by $0.01. The firm earned $971 million during the quarter, compared to analysts' expectations of $925.06 million. Tencent Music Entertainment Group had a trailing twelve-month return on equity of 9.68% and a net margin of 17.71%.

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 KraneShares CSI China Internet ETF (KWEB) , Global X Social Media Index ETF (SOCL) , MUSQ Global Music Industry ETF (MUSQ) , Principal Millennial Global Growth ETF (GENY) , Global X Emerging Markets Internet & E-commerce ETF (EWEB) , Global X Emerging Markets Great Consumer ETF (EMC) , Invesco Golden Dragon China ETF (PGJ) and Clouty Tune ETF (TUNE) .

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?

Tencent Music Entertainment Group (TME) raised $1.1 billion in an initial public offering (IPO) 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.

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 shareholders include Allspring Global Investments Holdings LLC (0.45%), Sumitomo Mitsui Trust Holdings Inc. (0.11%), Matthews International Capital Management LLC (0.11%), Perpetual Ltd (0.09%), Los Angeles Capital Management LLC (0.02%) and IMC Chicago LLC (0.00%).

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 Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services. Compare Top Brokerages Here .

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NYSE:TME

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

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Free TME Stock Alerts

$11.58

+0.31 (+2.75%)

(As of 04/18/2024 ET)

Compare

Today's Range: $11.32
▼
$11.71
50-Day Range: $9.47
▼
$11.91
52-Week Range: $5.70
▼
$12.00

Volume: 6.28 million shs
Average Volume: 6.40 million shs
Market Capitalization: $19.87 billion

P/E Ratio: 26.32
Dividend Yield: N/A
Price Target: $11.63

Get Tencent Music Entertainment Group alerts:

Tencent Music Entertainment Group MarketRank™ Stock Analysis

Analyst Rating: Moderate Buy
2.85 Rating Score
Upside/Downside: 0.4% Upside
$11.63 Price Target
Short Interest: Healthy
2.94% of Float Sold Short
Dividend Strength: N/A
Sustainability: N/A
News Sentiment: 1.66
Based on 6 Articles This Week
Insider Trading: N/A
Proj. Earnings Growth: 25.86%
From $0.58 to $0.73 Per Share

Overall MarketRank^™

New Rank-Based ScoringMarketRank^™ is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

3.98 out of 5 stars

Computer And Technology Sector

168th out of 581 stocks

Radio Broadcasting Stations Industry

4th out of 7 stocks

2.4

Analyst's Opinion

Consensus Rating
Tencent Music Entertainment Group has received a consensus rating of Moderate Buy. The company's average rating score is 2.85, and is based on 11 buy ratings, 2 hold ratings, and no sell ratings.
Amount of Analyst Coverage
Tencent Music Entertainment Group has been the subject of 10 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

5.0

Short Interest

Percentage of Shares Shorted
2.94% 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 2.3, 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 decreased by 31.35%, indicating that investor sentiment is improving significantly.

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.

4.3

News and Social Media Coverage

News Sentiment
Tencent Music Entertainment Group has a news sentiment score of 1.66. 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 0.50 average news sentiment score of Computer and Technology companies.
News Coverage This Week
MarketBeat has tracked 6 news articles for Tencent Music Entertainment Group this week, compared to 4 articles on an average week.
Search Interest
10 people have searched for TME on MarketBeat in the last 30 days. This is an increase of 11% compared to the previous 30 days.
MarketBeat Follows
10 people have added Tencent Music Entertainment Group to their MarketBeat watchlist in the last 30 days. This is an increase of 233% 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 24.32% 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 25.86% in the coming year, from $0.58 to $0.73 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Tencent Music Entertainment Group is 26.32, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 133.06.
Price to Earnings Ratio vs. Sector
The P/E ratio of Tencent Music Entertainment Group is 26.32, 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 214.03.
Price to Earnings Growth Ratio
Tencent Music Entertainment Group has a PEG Ratio of 0.69. 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 2.46. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

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About Tencent Music Entertainment Group Stock (NYSE:TME)

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 Stock Price History

30 days | 90 days | 365 days | Advanced Chart

TME Stock News Headlines

April 18, 2024 | finance.yahoo.com

Tencent Music Entertainment Group Filed 2023 Annual Report on Form 20-F

April 18, 2024 | markets.businessinsider.com

Tencent Music: A Harmonious Future with Robust Subscriber and Ad Revenue Growth

April 19, 2024 | Darwin (Ad)

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April 16, 2024 | markets.businessinsider.com

Buy Rating for Tencent Music: Forecasting Substantial Subscriber Growth and Robust Profitability

April 15, 2024 | finance.yahoo.com

Tencent Music Entertainment Group to Report First Quarter 2024 Financial Results on May 13, 2024

April 11, 2024 | americanbankingnews.com

Tencent Music Entertainment Group (NYSE:TME) Sets New 12-Month High at $11.93

April 9, 2024 | finance.yahoo.com

Returns On Capital Are Showing Encouraging Signs At Tencent Music Entertainment Group (NYSE:TME)

April 3, 2024 | finance.yahoo.com

Tencent Music Entertainment Group (NYSE:TME) Q4 2023 Earnings Call Transcript

April 19, 2024 | Darwin (Ad)

2024's Must-Have Guide: Master Crypto Investment Today

April 3, 2024 | finance.yahoo.com

Zacks.com featured highlights American Eagle Outfitters, JD.com, PDD Holdings, Air Lease and Tencent Music Entertainment

March 24, 2024 | finance.yahoo.com

Tencent Music Entertainment Group Full Year 2023 Earnings: EPS Beats Expectations

March 22, 2024 | finance.yahoo.com

Tencent Music Entertainment Group Announces Senior Management Changes

March 21, 2024 | seekingalpha.com

Tencent Music Entertainment (TME) Q4 2023 Earnings Call Transcript

March 21, 2024 | finance.yahoo.com

US$11.37 - That's What Analysts Think Tencent Music Entertainment Group (NYSE:TME) Is Worth After These Results

March 21, 2024 | markets.businessinsider.com

Upbeat Outlook for Tencent Music: Analyst Upholds Buy Rating Amid ARPPU Growth and Margin Expansion

March 20, 2024 | msn.com

Tencent Music beats quarterly revenue estimates (March 19)

March 20, 2024 | markets.businessinsider.com

Buy Rating Reaffirmed for Tencent Music Entertainment Group Amidst Strong Financial Performance and Positive Business Outlook

March 20, 2024 | msn.com

Tencent Music sees rating upgrade at Goldman on sustained subscription momentum

March 20, 2024 | msn.com

These Analysts Raise Their Forecasts On Tencent Music Entertainment After Q4 Results

March 20, 2024 | markets.businessinsider.com

Tencent Music Entertainment Ready To Benefit From 'Secular Tailwind Of Music Streaming Adoption': Analysts On Q4 Results, Outlook

March 20, 2024 | finance.yahoo.com

Tencent Music Entertainment Group: Tencent Music Earnings: Tuning Into Growth and Shareholder Returns; Shares Undervalued

March 19, 2024 | msn.com

Tencent Music Profits Surged in 2023 on Paid Subscription Growth Despite Hit to Social Business

March 19, 2024 | msn.com

China's Leading Audio Entertainment App Tencent Music's Users Decline In Q4, But Paying Subscribers Surge

March 19, 2024 | nasdaq.com

Tencent Music Entertainment Group Earnings Hitting the High Notes

March 19, 2024 | msn.com

Tencent Music Entertainment Non-GAAP EPADS of $0.14 beats by $0.01, revenue of $971M beats by $41.29M

March 19, 2024 | msn.com

Tencent Music Profits Reach $735 Million, Despite Revenue Decline

March 19, 2024 | markets.businessinsider.com

Tencent Music Entertainment Q4 Profit Rises, Revenues Down

See More Headlines

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Company Calendar

Last Earnings: 3/19/2024
Today: 4/19/2024
Next Earnings (Confirmed): 5/13/2024
Fiscal Year End: 12/31/2024

Get Stock Alerts

Industry, Sector and Symbol

Stock Exchange: NYSE
Sector: Computer and Technology
Industry: Radio broadcasting stations
Sub-Industry: N/A
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 Target: $11.63
High Stock Price Target: $14.00
Low Stock Price Target: $7.40
Potential Upside/Downside: +0.4%
Consensus Rating: Moderate Buy
Rating Score (0-4): 2.85
Research Coverage: 13 Analysts

Profitability

EPS (Most Recent Fiscal Year): $0.44
Trailing P/E Ratio: 26.32
Forward P/E Ratio: 19.97
P/E Growth: 0.69
Net Income: $693 million
Net Margins: 17.71%
Pretax Margin: 21.77%
Return on Equity: 9.68%
Return on Assets: 7.31%

Debt

Debt-to-Equity Ratio: 0.10
Current Ratio: 2.49
Quick Ratio: 2.49

Sales & Book Value

Annual Sales: $3.91 billion
Price / Sales: 5.08
Cash Flow: $0.62 per share
Price / Cash Flow: 18.72
Book Value: $4.70 per share
Price / Book: 2.46

Miscellaneous

Outstanding Shares: 1,716,080,000
Free Float: N/A
Market Cap: $19.87 billion
Optionable: Optionable
Beta: 0.81

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Key Executives

Mr. Kar Shun Pang (Age 50)
Executive Chairman
Mr. Zhu Liang (Age 47)
CEO & Director
Ms. Min Hu (Age 52)
CFO & Director
Millicent T.
Head of IR
Mr. Tsai Chun Pan (Age 50)
Group VP & Head of Content Cooperation Business
Ms. Linlin Chen (Age 43)
Group Vice President & Head of Kugou Business Unit

Key Competitors

View All Competitors

Institutional Ownership

View All Institutional Transactions

TME Stock Analysis - Frequently Asked Questions

Should I buy or sell Tencent Music Entertainment Group stock right now?: 13 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Tencent Music Entertainment Group in the last year. There are currently 2 hold ratings and 11 buy ratings for the stock. The consensus among Wall Street 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 target for 2024?: 13 analysts have issued 12 month target prices for Tencent Music Entertainment Group's stock. Their TME share price targets range from $7.40 to $14.00. On average, they expect the company's share price to reach $11.63 in the next year. This suggests a possible upside of 0.4% 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 2024?: Tencent Music Entertainment Group's stock was trading at $9.01 at the start of the year. Since then, TME shares have increased by 28.5% and is now trading at $11.58.
View the best growth stocks for 2024 here.
Are investors shorting Tencent Music Entertainment Group?: Tencent Music Entertainment Group saw a decrease in short interest in the month of March. As of March 31st, there was short interest totaling 21,000,000 shares, a decrease of 31.4% from the March 15th total of 30,590,000 shares. Based on an average daily volume of 8,980,000 shares, the short-interest ratio is presently 2.3 days. Approximately 2.9% 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 Monday, May 13th 2024.
View our TME earnings forecast.
How can I listen to Tencent Music Entertainment Group's earnings call?: Tencent Music Entertainment Group will be holding an earnings conference call on Monday, May 13th at 7:00 AM Eastern. Interested parties can register for or listen to the call using this link.

How were Tencent Music Entertainment Group's earnings last quarter?: Tencent Music Entertainment Group (NYSE:TME) posted its quarterly earnings results on Tuesday, March, 19th. The company reported $0.13 EPS for the quarter, beating analysts' consensus estimates of $0.12 by $0.01. The firm earned $971 million during the quarter, compared to analysts' expectations of $925.06 million. Tencent Music Entertainment Group had a trailing twelve-month return on equity of 9.68% and a net margin of 17.71%.
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 KraneShares CSI China Internet ETF (KWEB), Global X Social Media Index ETF (SOCL), MUSQ Global Music Industry ETF (MUSQ), Principal Millennial Global Growth ETF (GENY), Global X Emerging Markets Internet & E-commerce ETF (EWEB), Global X Emerging Markets Great Consumer ETF (EMC), Invesco Golden Dragon China ETF (PGJ) and Clouty Tune ETF (TUNE).
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?: Tencent Music Entertainment Group (TME) raised $1.1 billion in an initial public offering (IPO) 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.
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 shareholders include Allspring Global Investments Holdings LLC (0.45%), Sumitomo Mitsui Trust Holdings Inc. (0.11%), Matthews International Capital Management LLC (0.11%), Perpetual Ltd (0.09%), Los Angeles Capital Management LLC (0.02%) and IMC Chicago LLC (0.00%).
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 Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

This page (NYSE:TME) was last updated on 4/19/2024 by MarketBeat.com Staff

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

Tencent Music Entertainment Group MarketRank™ Stock Analysis

Overall MarketRank™

Analyst's Opinion

Short Interest

Percentage of Shares Shorted

Short Interest Ratio / Days to Cover

Change versus previous month

Dividend Strength

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score

News and Social Media Coverage

News Sentiment

News Coverage This Week

Search Interest

MarketBeat Follows

Company Ownership

Earnings and Valuation

About Tencent Music Entertainment Group Stock (NYSE:TME)

TME Stock Price History

TME Stock News Headlines

Company Calendar

Industry, Sector and Symbol

Price Target and Rating

Profitability

Debt

Sales & Book Value

Miscellaneous

Social Links

Key Executives

Key Competitors

Institutional Ownership

TME Stock Analysis - Frequently Asked Questions

Overall MarketRank^™