NYSE:TME

Tencent Music Entertainment Group - TME Stock Forecast, Price & News

$8.01

+0.67 (+9.13%)

(As of 12/8/2022 03:27 PM ET)

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Today's Range: $7.54
▼
$8.07
50-Day Range: $3.61
▼
$7.62
52-Week Range: $2.95
▼
$7.70

Volume: 955,420 shs
Average Volume: 15.18 million shs
Market Capitalization: $13.58 billion

P/E Ratio: 28.61
Dividend Yield: N/A
Price Target: $6.43

Tencent Music Entertainment Group MarketRank™ Forecast

Analyst Rating: Moderate Buy
2.50 Rating Score
Upside/Downside: 19.6% Downside
$6.43 Price Target
Short Interest: Healthy
1.33% of Shares Sold Short
Dividend Strength: N/A
Sustainability: N/A
News Sentiment: 1.13
Based on 2 Articles This Week
Insider Trading: N/A
Proj. Earnings Growth: 17.65%
From $0.34 to $0.40 Per Share

Overall MarketRank^™

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.32 out of 5 stars

Computer And Technology Sector

248th out of 621 stocks

Radio Broadcasting Stations Industry

4th out of 11 stocks

1.3

Analyst's Opinion

Consensus Rating
Tencent Music Entertainment Group has received a consensus rating of Buy. The company's average rating score is 2.50, and is based on 3 buy ratings, no hold ratings, and 1 sell rating.
Price Target Upside/Downside
According to analysts' consensus price target of $6.43, Tencent Music Entertainment Group has a forecasted downside of 19.6% from its current price of $8.00.
Amount of Analyst Coverage
Tencent Music Entertainment Group has only been the subject of 3 research reports in the past 90 days.

5.0

Short Interest

Percentage of Shares Shorted
1.33% of the outstanding shares of Tencent Music Entertainment Group have been sold short.
Short Interest Ratio / Days to Cover
Tencent Music Entertainment Group has a short interest ratio ("days to cover") of 2.2, 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 17.79%, 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.

3.4

News and Social Media Coverage

News Sentiment
Tencent Music Entertainment Group has a news sentiment score of 1.13. 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 0.45 average news sentiment score of Computer and Technology companies.
News Coverage This Week
MarketBeat has tracked 2 news articles for Tencent Music Entertainment Group this week, compared to 2 articles on an average week.
Search Interest
33 people have searched for TME on MarketBeat in the last 30 days. This is an increase of 725% compared to the previous 30 days.
MarketBeat Follows
7 people have added Tencent Music Entertainment Group to their MarketBeat watchlist in the last 30 days. This is an increase of 600% 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 22.62% 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 17.65% in the coming year, from $0.34 to $0.40 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Tencent Music Entertainment Group is 28.57, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 122.31.
Price to Earnings Ratio vs. Sector
The P/E ratio of Tencent Music Entertainment Group is 28.57, 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 355.51.
Price to Earnings Growth Ratio
Tencent Music Entertainment Group has a PEG Ratio of 0.88. 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 1.69. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

About Tencent Music Entertainment Group (NYSE:TME) Stock

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 and listen to music in personalized ways; and WeSing, which enables users to have fun by singing and interacting with friends, sharing their singing performances with friends, and discovering songs that others have sung. The company also operates Kugou Music, Kuwo Music, WeSing, QQ Music, Kugou Live, and Kuwo Live that provides an interactive online stage for performers and users to showcase their talent and engage with those interested in their performance; and Kuwo Changting, an audio platform that offers users various audio content, including audio books, cross-talks, radio dramas, and other entertainment. 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. Tencent Music Entertainment Group has a strategic partnership with China Literature. The company is headquartered in Shenzhen, China. Tencent Music Entertainment Group is a subsidiary of Tencent Holdings Limited.

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TME Stock News Headlines

December 6, 2022 | americanbankingnews.com

Tencent Music Entertainment Group (NYSE:TME) Receives $6.23 Average Target Price from Analysts

December 2, 2022 | americanbankingnews.com

Tencent Music Entertainment Group (NYSE:TME) Upgraded to Overweight by Morgan Stanley

December 1, 2022 | americanbankingnews.com

Tencent Music Entertainment Group (NYSE:TME) Sees Large Volume Increase

November 24, 2022 | finance.yahoo.com

12 Best Asian Stocks To Buy Heading Into 2023

November 22, 2022 | seekingalpha.com

Tencent Music Hears Happy Tunes From Growing List Of Paying Users

November 22, 2022 | finance.yahoo.com

Tencent Music Entertainment Group to Hold Annual General Meeting and Class Meetings on December 30, 2022

November 22, 2022 | finance.yahoo.com

Tencent Music Entertainment Group Announced Performance Report for Its Overseas Service by Tencent Musician Platform

November 22, 2022 | finance.yahoo.com

Tencent Music stock jumps after J.P. Morgan recommends investors buy

November 20, 2022 | seekingalpha.com

Tencent Music: It's Time To Reconsider The Investment Opportunity

November 18, 2022 | finance.yahoo.com

Why Alibaba, Tencent Music Entertainment, and Huya Rallied This Week

November 17, 2022 | benzinga.com

Why Tencent Music Shares Are Soaring Higher Today

November 17, 2022 | seekingalpha.com

Tencent Music Entertainment slips even as Benchmark upgrades following Q3 results

November 15, 2022 | msn.com

More ads, paying users help China's Tencent Music beat Q3 estimates

November 15, 2022 | msn.com

Tencent Music Shares Jump After Strong Third-Quarter Results

November 15, 2022 | msn.com

China's Tencent Music Entertainment Tops Third-Quarter Views as Subscriber Base Grows

November 15, 2022 | seekingalpha.com

Tencent Music Entertainment Group (TME) Q3 2022 Earnings Call Transcript

November 15, 2022 | seekingalpha.com

Tencent Music Entertainment jumps 30% on strong Q3 performance

November 15, 2022 | finance.yahoo.com

Why Tencent Music Stock Was Moving Higher Today

November 15, 2022 | msn.com

China's Tencent Music results beat estimates as paying users rise

November 15, 2022 | markets.businessinsider.com

Tencent Music Entertainment Group Announces Third Quarter 2022 Unaudited Financial Results

November 10, 2022 | finance.yahoo.com

Why Tencent Music Entertainment (TME) Might Surprise This Earnings Season

November 9, 2022 | finance.yahoo.com

Ziff Davis (ZD) Q3 Earnings Meet Estimates, Revenues Fall Y/Y

November 9, 2022 | finance.yahoo.com

Should You Sell Tencent Music Entertainment Group (TME)?

November 1, 2022 | finance.yahoo.com

Will Bookings Growth Benefit Airbnb's (ABNB) Q3 Earnings?

October 31, 2022 | seekingalpha.com

Tencent Music Entertainment: No Surprises Expected

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30 days | 90 days | 365 days | Advanced Chart

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TME Company Calendar

Last Earnings: 11/15/2022
Today: 12/08/2022
Fiscal Year End: 12/31/2022
Next Earnings (Estimated): 3/20/2023

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Industry, Sector and Symbol

Stock Exchange: NYSE
Industry: Radio broadcasting stations
Sub-Industry: N/A
Sector: Computer and Technology
Current Symbol: NYSE:TME
CUSIP: N/A
CIK: 1744676
Web: www.tencentmusic.com
Phone: 8675586013388
Fax: N/A
Employees: 5,966
Year Founded: 2016

Price Target and Rating

Average Stock Price Forecast: $6.43
High Stock Price Forecast: $8.50
Low Stock Price Forecast: $3.90
Forecasted Upside/Downside: -19.7%
Consensus Rating: Moderate Buy
Rating Score (0-4): 2.50
Research Coverage: 4 Analysts

Profitability

EPS (Most Recent Fiscal Year): $0.28
Trailing P/E Ratio: 28.61
Forward P/E Ratio: 23.56
P/E Growth: 0.88
Net Income: $469.49 million
Net Margins: 10.61%
Pretax Margin: 12.72%
Return on Equity: 6.74%
Return on Assets: 4.99%

Debt

Debt-to-Equity Ratio: 0.12
Current Ratio: 2.15
Quick Ratio: 2.15

Sales & Book Value

Annual Sales: $4.90 billion
Price / Sales: 2.77
Cash Flow: $0.43 per share
Price / Cash Flow: 18.60
Book Value: $4.72 per share
Price / Book: 1.70

Miscellaneous

Outstanding Shares: 1,695,080,000
Free Float: N/A
Market Cap: $13.58 billion
Optionable: Optionable
Beta: 0.90

Social Links

Key Executives

Mr. Kar Shun Pang (Age 48)
Exec. Chairman

Mr. Zhu Liang (Age 46)
CEO & Director

Mr. Zhenyu Xie (Age 47)
Pres, CTO & Director

Ms. Min Hu (Age 49)
Chief Financial Officer

Mr. Tsai Chun Pan (Age 48)
Group VP & Head of Content Cooperation Bus.

Mr. Lixue Shi (Age 47)
Group VP & Head of Kuwo Bus. Unit

Mr. Cheuk Tung Yip (Age 41)
Chief Strategy Officer

Ms. Linlin Chen (Age 41)
Group VP & Head of Kugou Bus. Unit

Millicent T.
Vice Gen. Mang.

Ms. Heather Diwu
Investor Relations Officer

Key Competitors

View All Competitors

Insiders & Institutions

View All Insider Transactions
View All Institutional Transactions

TME Stock - Frequently Asked Questions

Should I buy or sell Tencent Music Entertainment Group stock right now?: 4 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Tencent Music Entertainment Group in the last year. There are currently 1 sell rating and 3 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" TME shares.
View TME analyst ratings or view top-rated stocks.
What is Tencent Music Entertainment Group's stock price forecast for 2023?: 4 Wall Street analysts have issued 1 year price targets for Tencent Music Entertainment Group's shares. Their TME share price forecasts range from $3.90 to $8.50. On average, they anticipate the company's share price to reach $6.43 in the next year. This suggests that the stock has a possible downside of 12.4%.
View analysts price targets for TME or view top-rated stocks among Wall Street analysts.
How have TME shares performed in 2022?: Tencent Music Entertainment Group's stock was trading at $6.85 at the beginning of the year. Since then, TME shares have increased by 7.2% and is now trading at $7.34.
View the best growth stocks for 2022 here.
When is Tencent Music Entertainment Group's next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Monday, March 20th 2023.
View our TME earnings forecast.
How were Tencent Music Entertainment Group's earnings last quarter?: Tencent Music Entertainment Group (NYSE:TME) released its quarterly earnings data on Tuesday, November, 15th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.08 by $0.02. The company earned $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. Tencent Music Entertainment Group had a net margin of 10.61% and a trailing twelve-month return on equity of 6.74%.
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?: (TME) raised $1.1 billion in an IPO on Wednesday, December 12th 2018. The company issued 82,000,000 shares at $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.
What is Tencent Music Entertainment Group's stock symbol?: Tencent Music Entertainment Group trades on the New York Stock Exchange (NYSE) under the ticker symbol "TME."
Who are Tencent Music Entertainment Group's major shareholders?: Tencent Music Entertainment Group's stock is owned by a number of retail and institutional investors. Top institutional shareholders include BlackRock Inc. (2.04%), Baillie Gifford & Co. (1.85%), Vanguard Group Inc. (1.41%), Krane Funds Advisors LLC (1.24%), State Street Corp (0.72%) and Allspring Global Investments Holdings LLC (0.66%).
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 WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.
What is Tencent Music Entertainment Group's stock price today?: One share of TME stock can currently be purchased for approximately $7.34.
How much money does Tencent Music Entertainment Group make?: Tencent Music Entertainment Group (NYSE:TME) has a market capitalization of $12.44 billion and generates $4.90 billion in revenue each year. The company earns $469.49 million in net income (profit) each year or $0.28 on an earnings per share basis.
How many employees does Tencent Music Entertainment Group have?: The company employs 5,966 workers across the globe.
How can I contact Tencent Music Entertainment Group?: Tencent Music Entertainment Group's mailing address is 17/F MALATA BUILDING KEJIZHONGYI ROAD MIDWEST DISTRICT OF HI-TECH PARK, SHENZHEN F4, 518057. The official website for the company is www.tencentmusic.com. The company can be reached via phone at 8675586013388 or via email at tme@tpg-ir.com.

This page (NYSE:TME) was last updated on 12/8/2022 by MarketBeat.com Staff

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Tencent Music Entertainment Group - TME Stock Forecast, Price & News

Tencent Music Entertainment Group MarketRank™ Forecast

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 (NYSE:TME) Stock

TME Stock News Headlines

TME Company Calendar

Industry, Sector and Symbol

Price Target and Rating

Profitability

Debt

Sales & Book Value

Miscellaneous

Social Links

Key Executives

Key Competitors

Insiders & Institutions

TME Stock - Frequently Asked Questions

Overall MarketRank^™