Tencent Music Entertainment Group Stock Forecast, Price & News

12 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Tencent Music Entertainment Group in the last year. There are currently 2 sell ratings, 8 hold ratings and 2 buy ratings for the stock. The consensus among Wall Street research 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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12 brokerages have issued twelve-month price objectives for Tencent Music Entertainment Group's stock. Their TME stock forecasts range from $3.50 to $18.00. On average, they anticipate Tencent Music Entertainment Group's stock price to reach $9.20 in the next twelve months. This suggests a possible upside of 85.5% from the stock's current price.
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Tencent Music Entertainment Group's stock was trading at $6.85 at the beginning of the year. Since then, TME shares have decreased by 27.6% and is now trading at $4.96.
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Tencent Music Entertainment Group is scheduled to release its next quarterly earnings announcement on Monday, August 15th 2022.
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Tencent Music Entertainment Group (NYSE:TME) released its earnings results on Monday, May, 16th. The company reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.06 by $0.48. The firm earned $6.64 billion during the quarter, compared to the consensus estimate of $6.65 billion. Tencent Music Entertainment Group had a trailing twelve-month return on equity of 6.21% and a net margin of 9.01%. Tencent Music Entertainment Group's revenue for the quarter was down 15.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.09 earnings per share.
View Tencent Music Entertainment Group's earnings history.

Some companies that are related to Tencent Music Entertainment Group include Sirius XM (SIRI), Spotify Technology (SPOT), iHeartMedia (IHRT), Corus Entertainment (CJREF), Urban One (UONE), Urban One (UONEK), Audacy (AUD), Cumulus Media (CMLS), Townsquare Media (TSQ), Saga Communications (SGA), iHeartMedia (IHRTQ), Salem Media Group (SALM), Beasley Broadcast Group (BBGI), Spanish Broadcasting System (SBSAA) and CÜR 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), JD.com (JD), Johnson & Johnson (JNJ), Square (SQ) and Walt Disney (DIS).

(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 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 Baillie Gifford & Co. (0.00%), Canada Pension Plan Investment Board (0.00%), BlackRock Inc. (1.78%), Vanguard Group Inc. (0.00%), Krane Funds Advisors LLC (1.08%) and Coronation Fund Managers Ltd. (0.00%).

TME stock was sold by a variety of institutional investors in the last quarter, including Bank of New York Mellon Corp, APG Asset Management N.V., California Public Employees Retirement System, GW&K Investment Management LLC, Baillie Gifford & Co., Nomura Holdings Inc., PEAK6 Investments LLC, and TB Alternative Assets Ltd..

TME stock was purchased by a variety of institutional investors in the last quarter, including Federated Hermes Inc., Invesco Ltd., Krane Funds Advisors LLC, 1832 Asset Management L.P., Dimensional Fund Advisors LP, BlackRock Inc., Coronation Fund Managers Ltd., and National Bank of Canada FI.

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 $4.96.

Tencent Music Entertainment Group employs 5,966 workers across the globe.

Tencent Music Entertainment Group was founded in 2016.

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 Tencent Music Entertainment Group is www.tencentmusic.com. The company can be reached via phone at 8675586013388 or via email at [email protected].