Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) Given Consensus Recommendation of “Hold” by Analysts

Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) has been assigned an average recommendation of “Hold” from the fourteen brokerages that are covering the firm, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $21.4417.

TME has been the subject of a number of analyst reports. Barclays decreased their price objective on shares of Tencent Music Entertainment Group from $28.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, March 19th. Zacks Research raised shares of Tencent Music Entertainment Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 19th. Benchmark restated a “hold” rating on shares of Tencent Music Entertainment Group in a research note on Wednesday, March 18th. Mizuho dropped their price target on shares of Tencent Music Entertainment Group from $23.00 to $18.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $23.00 price target on shares of Tencent Music Entertainment Group in a research note on Tuesday, March 17th.

Institutional Trading of Tencent Music Entertainment Group

A number of hedge funds and other institutional investors have recently made changes to their positions in TME. Royal Bank of Canada increased its stake in shares of Tencent Music Entertainment Group by 9.0% in the first quarter. Royal Bank of Canada now owns 144,475 shares of the company’s stock worth $2,082,000 after buying an additional 11,979 shares during the last quarter. AQR Capital Management LLC increased its stake in Tencent Music Entertainment Group by 107.5% during the first quarter. AQR Capital Management LLC now owns 85,450 shares of the company’s stock valued at $1,231,000 after purchasing an additional 44,265 shares during the last quarter. Jones Financial Companies Lllp bought a new stake in Tencent Music Entertainment Group during the first quarter valued at $985,000. Acadian Asset Management LLC increased its stake in Tencent Music Entertainment Group by 385,900.0% during the first quarter. Acadian Asset Management LLC now owns 50,180 shares of the company’s stock valued at $722,000 after purchasing an additional 50,167 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Tencent Music Entertainment Group by 83.0% during the second quarter. EverSource Wealth Advisors LLC now owns 3,005 shares of the company’s stock valued at $59,000 after purchasing an additional 1,363 shares during the last quarter. Institutional investors own 24.32% of the company’s stock.

Tencent Music Entertainment Group Stock Performance

NYSE:TME opened at $9.24 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.08. The firm has a 50-day moving average of $9.27 and a two-hundred day moving average of $13.39. The stock has a market cap of $14.54 billion, a P/E ratio of 11.54, a PEG ratio of 0.60 and a beta of 0.80. Tencent Music Entertainment Group has a 1-year low of $8.44 and a 1-year high of $26.70.

Tencent Music Entertainment Group (NYSE:TME) last posted its quarterly earnings data on Tuesday, March 31st. The company reported $0.11 earnings per share for the quarter. The company had revenue of $1.15 billion during the quarter. Tencent Music Entertainment Group had a net margin of 26.45% and a return on equity of 11.20%. On average, research analysts expect that Tencent Music Entertainment Group will post 0.9 earnings per share for the current fiscal year.

About Tencent Music Entertainment Group

Tencent Music Entertainment Group (NYSE: TME) is a China-based digital music and audio entertainment platform that operates a portfolio of leading music streaming and social entertainment services. Its core consumer-facing products include streaming apps, online karaoke (KTV) services and live music and entertainment broadcasts. The company monetizes its content through a mix of subscriptions, digital music sales, in-app purchases, virtual gifting, advertising and licensing arrangements with rights holders.

The company traces its roots to the consolidation of Tencent’s music assets and was established in the mid-2010s to unify several prominent music properties under a single operating entity.