Tencent Music Entertainment Group Stock Forecast, Price & News

12 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Tencent Music Entertainment Group in the last twelve months. There are currently 1 sell rating, 3 hold ratings and 8 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" Tencent Music Entertainment Group stock.
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Tencent Music Entertainment Group saw a drop in short interest in the month of March. As of March 31st, there was short interest totaling 37,290,000 shares, a drop of 50.1% from the March 15th total of 74,770,000 shares. Based on an average daily volume of 33,000,000 shares, the short-interest ratio is presently 1.1 days.
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Tencent Music Entertainment Group is scheduled to release its next quarterly earnings announcement on Monday, May 10th 2021.
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Tencent Music Entertainment Group (NYSE:TME) released its earnings results on Sunday, March, 21st. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.69. The business earned $8.34 billion during the quarter, compared to the consensus estimate of $8.33 billion. Tencent Music Entertainment Group had a net margin of 14.25% and a trailing twelve-month return on equity of 9.51%. Tencent Music Entertainment Group's revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.81 EPS.
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Tencent Music Entertainment Group's stock was trading at $11.76 on March 11th, 2020 when COVID-19 reached pandemic status according to the World Health Organization (WHO). Since then, TME stock has increased by 58.2% and is now trading at $18.61.
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12 Wall Street analysts have issued twelve-month price objectives for Tencent Music Entertainment Group's stock. Their forecasts range from $17.30 to $36.00. On average, they expect Tencent Music Entertainment Group's share price to reach $25.93 in the next year. This suggests a possible upside of 39.3% from the stock's current price.
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Some companies that are related to Tencent Music Entertainment Group include Spotify Technology (SPOT), Sirius XM (SIRI), Corus Entertainment (CJREF), Entercom Communications (ETM), Urban One (UONE), Cumulus Media (CMLS), Townsquare Media (TSQ), Saga Communications (SGA), iHeartMedia (IHRTQ), Urban One (UONEK), Beasley Broadcast Group (BBGI), Salem Media Group (SALM), Spanish Broadcasting System (SBSAA), CÜR Media (CURM) and Interep National Radio Sales (IREP).
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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 The 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 number of institutional and retail investors. Top institutional investors include Bellecapital International Ltd. (0.02%), Exchange Traded Concepts LLC (0.01%), E Fund Management Hong Kong Co. Ltd. (0.01%), Syquant Capital Sas (0.00%), Deltec Asset Management LLC (0.00%) and Crossmark Global Holdings Inc. (0.00%).

TME stock was sold by a variety of institutional investors in the last quarter, including Crossmark Global Holdings Inc., and NEXT Financial Group Inc.

TME stock was purchased by a variety of institutional investors in the last quarter, including Exchange Traded Concepts LLC, Syquant Capital Sas, Bellecapital International Ltd., Deltec Asset Management LLC, Carroll Financial Associates Inc., and E Fund Management Hong Kong Co. Ltd..

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 $18.61.

Tencent Music Entertainment Group has a market capitalization of $31.22 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 was founded in 2016.

The official website for Tencent Music Entertainment Group is www.tencentmusic.com.

Tencent Music Entertainment Group is headquartered at 17/F MALATA BUILDING KEJIZHONGYI ROAD MIDWEST DISTRICT OF HI-TECH PARK, SHENZHEN F4, 518057.

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 8675586013388.