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

Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) has earned a consensus rating of “Moderate Buy” from the fifteen ratings firms that are covering the company, MarketBeat reports. Eight investment analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $22.0250.

Several brokerages recently weighed in on TME. Daiwa Securities Group restated a “hold” rating and set a $12.00 target price on shares of Tencent Music Entertainment Group in a research note on Wednesday, March 18th. UBS Group restated a “neutral” rating and set a $13.00 price target (down from $26.00) on shares of Tencent Music Entertainment Group in a research note on Wednesday, March 18th. Jefferies Financial Group restated a “buy” rating and set a $23.00 price target on shares of Tencent Music Entertainment Group in a research note on Tuesday, March 17th. Benchmark restated a “hold” rating on shares of Tencent Music Entertainment Group in a research note on Wednesday, March 18th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $12.00 price target on shares of Tencent Music Entertainment Group in a research note on Wednesday, March 18th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TME. SG Americas Securities LLC raised its stake in shares of Tencent Music Entertainment Group by 85.7% in the fourth quarter. SG Americas Securities LLC now owns 542,198 shares of the company’s stock worth $9,505,000 after purchasing an additional 250,261 shares during the last quarter. Green Court Capital Management Ltd raised its stake in shares of Tencent Music Entertainment Group by 93.1% in the third quarter. Green Court Capital Management Ltd now owns 1,039,078 shares of the company’s stock worth $24,252,000 after purchasing an additional 501,078 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of Tencent Music Entertainment Group in the third quarter worth about $4,257,000. OPTIMAS CAPITAL Ltd purchased a new position in shares of Tencent Music Entertainment Group in the third quarter worth about $9,150,000. Finally, AGF Management Ltd. raised its stake in shares of Tencent Music Entertainment Group by 86.5% in the third quarter. AGF Management Ltd. now owns 878,591 shares of the company’s stock worth $20,506,000 after purchasing an additional 407,400 shares during the last quarter. Institutional investors and hedge funds own 24.32% of the company’s stock.

Tencent Music Entertainment Group Stock Down 1.7%

Shares of TME stock opened at $9.02 on Thursday. Tencent Music Entertainment Group has a 1-year low of $8.78 and a 1-year high of $26.70. The stock’s fifty day moving average price is $13.61 and its 200 day moving average price is $17.70. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.22 and a quick ratio of 2.22. The company has a market cap of $13.96 billion, a price-to-earnings ratio of 9.11, a price-to-earnings-growth ratio of 0.60 and a beta of 0.80.

Tencent Music Entertainment Group Increases Dividend

The business also recently declared an annual dividend, which will be paid on Thursday, April 23rd. Shareholders of record on Thursday, April 2nd will be paid a dividend of $0.24 per share. This represents a yield of 262.0%. The ex-dividend date is Thursday, April 2nd. This is a positive change from Tencent Music Entertainment Group’s previous annual dividend of $0.18. Tencent Music Entertainment Group’s dividend payout ratio (DPR) is currently 23.23%.

Tencent Music Entertainment Group Company Profile

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.