NYSE:TMETencent Music Entertainment Group Stock Price, Forecast & News

Tencent Music Entertainment Group's stock was trading at $11.76 on March 11th, 2020 when Coronavirus (COVID-19) reached pandemic status according to the World Health Organization (WHO). Since then, TME shares have increased by 31.8% and is now trading at $15.50.
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11 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Tencent Music Entertainment Group in the last year. There are currently 3 hold ratings and 8 buy ratings for the stock, resulting in a consensus recommendation of "Buy."
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Tencent Music Entertainment Group is scheduled to release its next quarterly earnings announcement on Monday, November 9th 2020.
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Tencent Music Entertainment Group - (NYSE:TME) released its quarterly earnings data on Monday, May, 11th. The company reported $0.66 earnings per share for the quarter, topping analysts' consensus estimates of $0.08 by $0.58. The company earned $6.31 billion during the quarter, compared to analysts' expectations of $6.30 billion. Tencent Music Entertainment Group had a net margin of 14.94% and a return on equity of 10.21%. The business's quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.74 EPS.
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11 analysts have issued 1 year price objectives for Tencent Music Entertainment Group's shares. Their forecasts range from $14.00 to $24.00. On average, they anticipate Tencent Music Entertainment Group's stock price to reach $17.54 in the next twelve months. This suggests a possible upside of 13.1% from the stock's current price.
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News coverage about TME stock has trended very negative this week, according to InfoTrie Sentiment. InfoTrie identifies negative and positive press coverage by reviewing more than six thousand blog and news sources in real time. The firm ranks coverage of publicly-traded companies on a scale of negative five to five, with scores nearest to five being the most favorable. Tencent Music Entertainment Group earned a media sentiment score of -3.9 on InfoTrie's scale. They also gave headlines about the company a news buzz of 10.0 out of 10, meaning that recent press coverage is extremely likely to have an effect on the stock's share price in the next few days.
View the latest news about Tencent Music Entertainment Group.

Tencent Music Entertainment Group saw a increase in short interest during the month of May. As of May 15th, there was short interest totaling 31,150,000 shares, an increase of 23.1% from the April 30th total of 25,310,000 shares. Based on an average daily volume of 8,340,000 shares, the short-interest ratio is currently 3.7 days.
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Some companies that are related to Tencent Music Entertainment Group include Spotify (SPOT), Sirius XM (SIRI), Urban One (UONE), Corus Entertainment (CJREF), Entercom Communications (ETM), Cumulus Media (CMLS), iHeartMedia (IHRTQ), Townsquare Media (TSQ), Urban One (UONEK), Beasley Broadcast Group (BBGI), Salem Media Group (SALM), MODERN MEDIA AC/SH SH (MMDM), Emmis Communications (EMMS), Spanish Broadcasting System (SBSAA) and CUR Media (CURM).
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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), Square (SQ), Netflix (NFLX), TENCENT HOLDING/ADR (TCEHY), Walt Disney (DIS) and JD.Com (JD).

(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 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 a variety of institutional and retail investors. Top institutional shareholders include Goldman Sachs Group Inc. (0.60%), William Blair Investment Management LLC (0.52%), Tiger Pacific Capital LP (0.41%), Matthews International Capital Management LLC (0.40%), Bank of New York Mellon Corp (0.38%) and Coronation Fund Managers Ltd. (0.32%).

TME stock was sold by a variety of institutional investors in the last quarter, including TB Alternative Assets Ltd., Tiger Pacific Capital LP, Krane Funds Advisors LLC, EPIQ Capital Group LLC, Andra AP fonden, DekaBank Deutsche Girozentrale, Principal Financial Group Inc., and Hosking Partners LLP.

TME stock was bought by a variety of institutional investors in the last quarter, including Goldman Sachs Group Inc., UBS Group AG, Coronation Fund Managers Ltd., Bank of New York Mellon Corp, Matthews International Capital Management LLC, Sumitomo Mitsui Trust Holdings Inc., California Public Employees Retirement System, and William Blair Investment Management LLC.

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

One share of TME stock can currently be purchased for approximately $15.50.

Tencent Music Entertainment Group has a market capitalization of $25.31 billion and generates $3.65 billion in revenue each year. The company earns $576.20 million in net income (profit) each year or $0.37 on an earnings per share basis. Tencent Music Entertainment Group employs 3,610 workers across the globe.

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 86-755-8601-3388.