Analysts Set Tencent Music Entertainment Group (NYSE:TME) Target Price at $11.63

Shares of Tencent Music Entertainment Group (NYSE:TME) have been given a consensus recommendation of “Moderate Buy” by the thirteen brokerages that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $11.63.

TME has been the topic of several research reports. Bank of America lifted their price objective on shares of Tencent Music Entertainment Group from $10.50 to $12.30 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. UBS Group upgraded Tencent Music Entertainment Group from a “neutral” rating to a “buy” rating and set a $10.50 price objective on the stock in a research note on Wednesday, January 24th. Benchmark raised their target price on Tencent Music Entertainment Group from $9.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Redburn Atlantic initiated coverage on Tencent Music Entertainment Group in a research note on Monday, February 5th. They set a “buy” rating and a $12.00 price target for the company. Finally, The Goldman Sachs Group raised shares of Tencent Music Entertainment Group from a “neutral” rating to a “buy” rating and set a $14.00 price objective on the stock in a report on Wednesday, March 20th.

Tencent Music Entertainment Group Trading Down 0.6 %

NYSE:TME opened at $13.26 on Thursday. Tencent Music Entertainment Group has a 52 week low of $5.70 and a 52 week high of $13.66. The firm has a 50-day moving average price of $11.40 and a two-hundred day moving average price of $9.65. The firm has a market cap of $22.75 billion, a price-to-earnings ratio of 30.13, a price-to-earnings-growth ratio of 0.83 and a beta of 0.77. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.49 and a current ratio of 2.49.

Tencent Music Entertainment Group (NYSE:TME) last announced its earnings results on Tuesday, March 19th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.01. The firm had revenue of $971.00 million during the quarter, compared to analyst estimates of $925.06 million. Tencent Music Entertainment Group had a return on equity of 9.67% and a net margin of 17.71%. On average, equities analysts expect that Tencent Music Entertainment Group will post 0.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Tobam purchased a new position in Tencent Music Entertainment Group during the 4th quarter valued at about $36,000. Headinvest LLC purchased a new position in Tencent Music Entertainment Group in the third quarter worth about $39,000. Lindbrook Capital LLC lifted its stake in shares of Tencent Music Entertainment Group by 40.9% in the fourth quarter. Lindbrook Capital LLC now owns 7,036 shares of the company’s stock worth $63,000 after buying an additional 2,044 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in shares of Tencent Music Entertainment Group during the third quarter valued at approximately $64,000. Finally, China Universal Asset Management Co. Ltd. bought a new stake in shares of Tencent Music Entertainment Group during the third quarter valued at approximately $66,000. Hedge funds and other institutional investors own 24.32% of the company’s stock.

Tencent Music Entertainment Group Company Profile

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. It offers QQ Music, Kugou Music, and Kuwo Music that enable users to discover music in personalized ways; and WeSing, which enables users to sing from its library of karaoke songs and share their performances in audio or video formats with friends.