Tencent Music Entertainment Group Stock Forecast, Price & News

15 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Tencent Music Entertainment Group in the last year. There are currently 2 sell ratings, 7 hold ratings and 6 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "hold" Tencent Music Entertainment Group stock. A hold rating indicates that analysts believe investors should maintain any existing positions they have in TME, but not buy additional shares or sell existing shares.
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Wall Street analysts have given Tencent Music Entertainment Group a "Hold" rating, but there may be better buying opportunities in the stock market. Some of MarketBeat's past winning trading ideas have resulted in 5-15% weekly gains. MarketBeat just released five new stock ideas, but Tencent Music Entertainment Group wasn't one of them. MarketBeat thinks these five companies may be even better buys.
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Tencent Music Entertainment Group saw a increase in short interest in August. As of August 31st, there was short interest totaling 28,170,000 shares, an increase of 28.2% from the August 15th total of 21,970,000 shares. Based on an average daily trading volume, of 17,460,000 shares, the days-to-cover ratio is presently 1.6 days. Approximately 3.5% of the shares of the stock are sold short.
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Tencent Music Entertainment Group is scheduled to release its next quarterly earnings announcement on Tuesday, November 9th 2021.
View our earnings forecast for Tencent Music Entertainment Group.

Tencent Music Entertainment Group (NYSE:TME) issued its quarterly earnings data on Sunday, August, 15th. The company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.58. The company had revenue of $8.01 billion for the quarter, compared to analyst estimates of $8.10 billion. Tencent Music Entertainment Group had a net margin of 12.83% and a trailing twelve-month return on equity of 8.68%. Tencent Music Entertainment Group's quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.70 EPS.
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Tencent Music Entertainment Group's stock was trading at $11.76 on March 11th, 2020 when COVID-19 (Coronavirus) reached pandemic status according to the World Health Organization. Since then, TME shares have decreased by 37.2% and is now trading at $7.38.
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15 equities research analysts have issued 12-month target prices for Tencent Music Entertainment Group's shares. Their forecasts range from $5.10 to $28.00. On average, they expect Tencent Music Entertainment Group's stock price to reach $17.16 in the next year. This suggests a possible upside of 132.5% from the stock's current price.
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Some companies that are related to Tencent Music Entertainment Group include Spotify Technology (SPOT), Sirius XM (SIRI), Corus Entertainment (CJREF), Audacy (AUD), Urban One (UONE), Urban One (UONEK), Townsquare Media (TSQ), Cumulus Media (CMLS), Saga Communications (SGA), iHeartMedia (IHRTQ), Salem Media Group (SALM), Beasley Broadcast Group (BBGI), Spanish Broadcasting System (SBSAA), CÜR Media (CURM) and Interep National Radio Sales (IREP).
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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), Square (SQ) and The Walt Disney (DIS).

(TME) raised $1.1 billion in an 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 acted as the underwriters for the IPO and Credit Suisse, CICC, Allen & Company, BOCI, China Renaissance. HSBC, KeyBanc Capital Markets and Stifel were co-managers.

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

Tencent Music Entertainment Group's stock is owned by many different retail and institutional investors. Top institutional shareholders include Baillie Gifford & Co. (2.72%), Invesco Ltd. (2.06%), BlackRock Inc. (1.69%), Ninety One UK Ltd (1.29%), Vanguard Group Inc. (1.24%) and Jefferies Group LLC (0.00%).

TME stock was sold by a variety of institutional investors in the last quarter, including Credit Suisse AG, Renaissance Technologies LLC, Parallax Volatility Advisers L.P., Healthcare of Ontario Pension Plan Trust Fund, Marshall Wace LLP, Marshall Wace LLP, Bank of America Corp DE, and SG Americas Securities LLC.

TME stock was purchased by a variety of institutional investors in the last quarter, including Invesco Ltd., Jefferies Group LLC, BlackRock Inc., Coronation Fund Managers Ltd., State Street Corp, Franklin Resources Inc., American Century Companies Inc., and Vanguard Group Inc..

Shares of TME 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.
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One share of TME stock can currently be purchased for approximately $7.38.

Tencent Music Entertainment Group has a market capitalization of $12.38 billion and generates $4.47 billion in revenue each year. The company earns $602.06 million in net income (profit) each year or $0.40 on an earnings per share basis.

Tencent Music Entertainment Group employs 2,020 workers across the globe.

Tencent Music Entertainment Group was founded in 2016.

The official website for Tencent Music Entertainment Group is www.tencentmusic.com.

Tencent Music Entertainment Group is headquartered at 17/F MALATA BUILDING KEJIZHONGYI ROAD MIDWEST DISTRICT OF HI-TECH PARK, SHENZHEN F4, 518057.

Tencent Music Entertainment Group's mailing address is 17/F MALATA BUILDING KEJIZHONGYI ROAD MIDWEST DISTRICT OF HI-TECH PARK, SHENZHEN F4, 518057. The company can be reached via phone at 8675586013388 or via email at [email protected].