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

6 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Tencent Music Entertainment Group in the last year. There are currently 2 hold ratings and 4 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" TME shares.
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6 Wall Street analysts have issued 12-month price targets for Tencent Music Entertainment Group's stock. Their TME share price forecasts range from $3.90 to $8.50. On average, they anticipate the company's stock price to reach $7.02 in the next twelve months. This suggests that the stock has a possible downside of 19.0%.
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Tencent Music Entertainment Group's stock was trading at $8.28 at the beginning of 2023. Since then, TME shares have increased by 4.7% and is now trading at $8.67.
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Tencent Music Entertainment Group saw a increase in short interest in December. As of December 15th, there was short interest totaling 28,610,000 shares, an increase of 32.8% from the November 30th total of 21,540,000 shares. Based on an average daily trading volume, of 12,420,000 shares, the days-to-cover ratio is presently 2.3 days.
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The company is scheduled to release its next quarterly earnings announcement on Monday, March 20th 2023.
View our TME earnings forecast.

Tencent Music Entertainment Group (NYSE:TME) announced its earnings results on Tuesday, November, 15th. The company reported $0.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.08 by $0.02. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates 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%.

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).

(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 many different institutional and retail investors. Top institutional investors include Baillie Gifford & Co. (1.74%), Allspring Global Investments Holdings LLC (0.65%), National Bank of Canada FI (0.02%), Greenleaf Trust (0.00%), Sequoia Financial Advisors LLC (0.00%) and Janiczek Wealth Management LLC (0.00%).

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.
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One share of TME stock can currently be purchased for approximately $8.67.

Tencent Music Entertainment Group (NYSE:TME) has a market capitalization of $14.70 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.

The company employs 5,966 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 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.