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 stock has increased by 31.6% and is now trading at $15.4750.
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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) posted its earnings results on Monday, May, 11th. The company reported $0.66 earnings per share for the quarter, beating analysts' consensus estimates of $0.08 by $0.58. The business had revenue of $6.31 billion for the quarter, compared to the consensus estimate of $6.30 billion. Tencent Music Entertainment Group had a return on equity of 10.21% and a net margin of 14.94%. Tencent Music Entertainment Group's revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.74 earnings per share.
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11 equities research analysts have issued 12-month target prices for Tencent Music Entertainment Group's stock. Their forecasts range from $14.00 to $24.00. On average, they expect Tencent Music Entertainment Group's share price to reach $17.54 in the next year. This suggests a possible upside of 13.3% from the stock's current price.
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News headlines about TME stock have trended neutral on Tuesday, according to InfoTrie Sentiment. The research group identifies negative and positive media coverage by reviewing more than six thousand blog and news sources in real time. The firm ranks coverage of public 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 0.2 on InfoTrie's scale. They also assigned news headlines about the company a news buzz of 0.0 out of 10, meaning that recent media coverage is extremely unlikely to have an effect on the company's share price in the next several days.
View the latest news about Tencent Music Entertainment Group.

Tencent Music Entertainment Group saw a drop in short interest in the month of February. As of February 15th, there was short interest totaling 31,770,000 shares, a drop of 12.4% from the January 31st total of 36,270,000 shares. Based on an average trading volume of 7,420,000 shares, the days-to-cover ratio is currently 4.3 days. Approximately 10.4% of the shares of the stock are sold short.
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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), Townsquare Media (TSQ), Cumulus Media (CMLS), iHeartMedia (IHRTQ), 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 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.

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 investors include Tiger Pacific Capital LP (0.41%), Matthews International Capital Management LLC (0.40%), Coronation Fund Managers Ltd. (0.32%), Krane Funds Advisors LLC (0.27%), UBS Group AG (0.23%) and GW&K Investment Management LLC (0.16%).

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 purchased by a variety of institutional investors in the last quarter, including UBS Group AG, Coronation Fund Managers Ltd., Matthews International Capital Management LLC, Sumitomo Mitsui Trust Holdings Inc., Swiss National Bank, GW&K Investment Management LLC, Zurcher Kantonalbank Zurich Cantonalbank, and KADENSA CAPITAL Ltd.

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 $15.48.

Tencent Music Entertainment Group has a market capitalization of $25.27 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.