Tencent Music Entertainment Group Stock Forecast, Price & News

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 stock has increased by 32.8% and is now trading at $15.62.
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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 2 hold ratings and 9 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 quarterly earnings results on Monday, May, 11th. The company reported $0.66 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of $0.08 by $0.58. The company had revenue of $6.31 billion for the quarter, compared to analyst estimates of $6.30 billion. Tencent Music Entertainment Group had a return on equity of 9.76% and a net margin of 14.41%. The business's revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.74 earnings per share.
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11 brokers have issued 1-year target prices for Tencent Music Entertainment Group's shares. Their forecasts range from $14.00 to $24.00. On average, they expect Tencent Music Entertainment Group's share price to reach $17.81 in the next twelve months. This suggests a possible upside of 14.0% from the stock's current price.
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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 49,920,000 shares, an increase of 16.9% from the August 15th total of 42,700,000 shares. Based on an average daily volume of 10,770,000 shares, the days-to-cover ratio is currently 4.6 days.
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Some companies that are related to Tencent Music Entertainment Group include Spotify (SPOT), Sirius XM (SIRI), Corus Entertainment (CJREF), Entercom Communications (ETM), Urban One (UONE), Cumulus Media (CMLS), iHeartMedia (IHRTQ), Townsquare Media (TSQ), Urban One (UONEK), Beasley Broadcast Group (BBGI), MODERN MEDIA AC/SH SH (MMDM), Salem Media Group (SALM), 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), Netflix (NFLX), Square (SQ), Walt Disney (DIS), TENCENT HOLDING/ADR (TCEHY) and JD.Com (JD).

(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 a variety of institutional and retail investors. Top institutional investors include Vanguard Group Inc. (0.97%), 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%) and Bank of New York Mellon Corp (0.38%).

TME stock was sold by a variety of institutional investors in the last quarter, including Kingstown Capital Management L.P., TB Alternative Assets Ltd., FMR LLC, FMR LLC, Tiger Pacific Capital LP, Two Sigma Advisers LP, Krane Funds Advisors LLC, and EPIQ Capital Group LLC.

TME stock was bought by a variety of institutional investors in the last quarter, including Vanguard Group Inc., Goldman Sachs Group Inc., UBS Group AG, Nuveen Asset Management LLC, Blackstone Group Inc, Coronation Fund Managers Ltd., Bank of New York Mellon Corp, and Bamco Inc. NY.

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 $15.62.

Tencent Music Entertainment Group has a market capitalization of $25.51 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.