Tencent Music Entertainment Group (NYSE:TME – Get Rating) has been assigned an average recommendation of “Hold” from the fourteen research firms that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, six have given a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $9.05.
TME has been the subject of several research reports. JPMorgan Chase & Co. cut their target price on Tencent Music Entertainment Group from $6.00 to $3.50 in a report on Monday, March 14th. Goldman Sachs Group initiated coverage on Tencent Music Entertainment Group in a report on Sunday, April 10th. They issued a “sell” rating and a $5.60 target price for the company. Finally, HSBC cut their target price on Tencent Music Entertainment Group from $5.10 to $3.90 in a report on Tuesday, May 17th.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. LGL Partners LLC boosted its position in Tencent Music Entertainment Group by 14.0% during the 4th quarter. LGL Partners LLC now owns 17,100 shares of the company’s stock valued at $117,000 after buying an additional 2,100 shares during the period. JJJ Advisors Inc. grew its position in Tencent Music Entertainment Group by 74.5% during the 4th quarter. JJJ Advisors Inc. now owns 5,940 shares of the company’s stock valued at $41,000 after buying an additional 2,536 shares during the period. Ground Swell Capital LLC boosted its position in Tencent Music Entertainment Group by 25.5% in the first quarter. Ground Swell Capital LLC now owns 13,223 shares of the company’s stock valued at $64,000 after buying an additional 2,690 shares during the period. Northwestern Mutual Wealth Management Co . increased its position in Tencent Music Entertainment Group by 17.1% in the first quarter. Now Northwestern Mutual Wealth Management Co. now owns 21,254 shares of the company’s stock valued at $104,000 after buying an additional 3,104 shares during the period. Finally, Legacy Wealth Asset Management LLC boosted its position in Tencent Music Entertainment Group by 21.4% during the first quarter. Legacy Wealth Asset Management LLC now owns 19,264 shares of the company’s stock valued at $94,000 after purchasing an additional 3,392 shares during the period.
Shares of NYSE TME stock opened at $5.24 on Tuesday. The company has a market cap of $8.79 billion, a price-to-earnings ratio of 20.15, a price-to-earnings-growth ratio of 1.69 and a beta of 0.85. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.28 and a quick earnings ratio of 2.28. The business has a 50-day moving average of $4.34 and a 200-day moving average of $5.13. Tencent Music Entertainment Group has a 1 year low of $2.95 and a 1 year high of $15.50.
Tencent Music Entertainment Group (NYSE:TME – Get Rating ) last announced its quarterly earnings results on Monday, May 16th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.48. The company had revenue of $6.64 billion during the quarter, compared to the consensus estimate of $6.65 billion. Tencent Music Entertainment Group had a 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% on a year-over-year basis. During the same period in the prior year, the business earned $0.09 EPS. As a group, equities research analysts expect that Tencent Music Entertainment Group will post 0.23 earnings per share for the current year.
Company profile of Tencent Music Entertainment Group (Get Rating)
Tencent Music Entertainment Group operates online music entertainment platforms to provide music streaming, online karaoke and live streaming services in the People’s Republic of China. Offers QQ Music, Kugou Music and Kuwo Music, which allow users to discover and listen to music in personalized ways; and WeSing, which allows users to have fun singing and chatting with friends, share their singing performances with friends, and discover songs that others have sung.
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