Tencent Music Entertainment Group Stock Forecast, Price & News

14 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, 4 hold ratings and 9 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" Tencent Music Entertainment Group stock.
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Wall Street analysts have given Tencent Music Entertainment Group a "Buy" rating, but there may be better buying opportunities in the stock market. Some of MarketBeat's past winning trading ideas have resulted in 5-15% weekly gains. MarketBeat just released five new stock ideas, but Tencent Music Entertainment Group wasn't one of them. MarketBeat thinks these five companies may be even better buys.
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Tencent Music Entertainment Group is scheduled to release its next quarterly earnings announcement on Monday, August 9th 2021.
View our earnings forecast for Tencent Music Entertainment Group.

Tencent Music Entertainment Group (NYSE:TME) announced its earnings results on Sunday, May, 16th. The company reported $0.69 EPS for the quarter, beating the Zacks' consensus estimate of $0.10 by $0.59. The company had revenue of $7.82 billion for the quarter, compared to analysts' expectations of $7.77 billion. Tencent Music Entertainment Group had a net margin of 13.67% and a trailing twelve-month return on equity of 8.96%. The firm's quarterly revenue was up 23.9% on a year-over-year basis. During the same period last year, the company earned $0.66 EPS.
View Tencent Music Entertainment Group's earnings history.

Tencent Music Entertainment Group's stock was trading at $11.76 on March 11th, 2020 when Coronavirus reached pandemic status according to the World Health Organization (WHO). Since then, TME shares have increased by 28.5% and is now trading at $15.11.
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14 brokerages have issued 1-year target prices for Tencent Music Entertainment Group's shares. Their forecasts range from $17.30 to $36.00. On average, they expect Tencent Music Entertainment Group's stock price to reach $26.19 in the next year. This suggests a possible upside of 73.3% 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), Audacy (AUD), Urban One (UONE), Cumulus Media (CMLS), Urban One (UONEK), Townsquare Media (TSQ), Saga Communications (SGA), iHeartMedia (IHRTQ), 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 $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 a number of retail and institutional investors. Top institutional shareholders include Baillie Gifford & Co. (2.74%), BlackRock Inc. (1.42%), Ninety One UK Ltd (1.34%), Canada Pension Plan Investment Board (1.02%), Credit Suisse AG (0.93%) and Soma Equity Partners LP (0.72%).

TME stock was sold by a variety of institutional investors in the last quarter, including Morgan Stanley, Credit Suisse AG, Nomura Holdings Inc., Schroder Investment Management Group, Canada Pension Plan Investment Board, Assenagon Asset Management S.A., Price T Rowe Associates Inc. MD, and Voleon Capital Management LP.

TME stock was purchased by a variety of institutional investors in the last quarter, including Sands Capital Management LLC, Altshuler Shaham Ltd, FIL Ltd, Healthcare of Ontario Pension Plan Trust Fund, Bank of New York Mellon Corp, Ninety One UK Ltd, Baillie Gifford & Co., and Millennium Management LLC.

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 $15.11.

Tencent Music Entertainment Group has a market capitalization of $25.35 billion and generates $4.47 billion in revenue each year. The company earns $602.06 million in net income (profit) each year or $0.40 on an earnings per share basis.

Tencent Music Entertainment Group employs 4,769 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 or via email at [email protected]