Shares of Tencent Music Entertainment Group (NYSE:TME – Get Rating) received an average recommendation of “Hold” by the fifteen research companies that currently cover the company, MarketBeat.com reports. Three equity research analysts gave the stock a sell rating, six gave the company a hold rating and two gave the company a buy rating. The 1-year average price target among brokerages that have issued ratings on the stock in the past year is $9.05.
A number of analysts have recently commented on TME shares. Zacks Investment Research upgraded Tencent Music Entertainment Group from a “buy” to a “sell” rating in a research report on Saturday, May 21. HSBC reduced its price target on Tencent Music Entertainment Group from $5.10 to $3.90 in a research report on Tuesday, May 17. JPMorgan Chase & Co. reduced its price target on Tencent Music Entertainment Group from $6.00 to $3.50 in a Monday, March 14 research report. Finally, Goldman Sachs Group began covering Tencent Music Entertainment Group in a research report on Sunday, April 10. They issued a “sell” rating and a price target of $5.60 for the company.
NYSE:TME shares opened at $4.45 on Friday. Tencent Music Entertainment Group has a 12-month minimum of $2.95 and a 12-month maximum of $16.34. The company has a market capitalization of $7.47 billion, a PE ratio of 17.12, a PEG ratio of 1.41 and a beta of 1.12. The company has a 50-day moving average of $4.33 and a 200-day moving average of $5.39. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt ratio of 0.10.
Tencent Music Entertainment Group (NYSE:TME – Get Rating) last announced its quarterly results on Monday, May 16. The company reported earnings per share (EPS) of $0.54 for the quarter, beating consensus analyst estimates of $0.06 from $0.48. The company posted revenue of $6.64 billion in the quarter, versus a consensus estimate of $6.65 billion. Tencent Music Entertainment Group achieved 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% year-on-year. In the same period a year earlier, the company posted earnings per share of $0.09. Equity research analysts expect Tencent Music Entertainment Group to post earnings per share of 0.23 for the current fiscal year.
Major investors have recently changed their stake in the company. JJJ Advisors Inc. increased its stake in Tencent Music Entertainment Group by 74.5% in Q4. JJJ Advisors Inc. now owns 5,940 shares of the company valued at $41,000 after purchasing an additional 2,536 shares in the last quarter. HighTower Advisors LLC bought a new stake in Tencent Music Entertainment Group in Q1 worth $51,000. Lindbrook Capital LLC increased its stake in Tencent Music Entertainment Group by 294.8% in Q4. Lindbrook Capital LLC now owns 8,251 shares of the company valued at $57,000 after purchasing an additional 6,161 shares in the last quarter. Ground Swell Capital LLC increased its stake in Tencent Music Entertainment Group by 25.5% in Q1. Ground Swell Capital LLC now owns 13,223 shares of the company valued at $64,000 after purchasing an additional 2,690 shares last quarter. Finally, American International Group Inc. increased its stake in Tencent Music Entertainment Group by 71.1% in the third quarter. American International Group Inc. now owns 8,901 shares of the company valued at $65,000 after purchasing an additional 3,700 shares last quarter.
Tencent Music Entertainment Group Company Profile (Get an assessment)
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 which allow users to discover and listen to music in a personalized way. and WeSing, which allows users to have fun singing and interacting with friends, sharing their singing performances with friends, and discovering songs that others have sung.
This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $1,000 in Tencent Music Entertainment Group right now?
Before you consider Tencent Music Entertainment Group, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes hold…and Tencent Music Entertainment Group didn’t make the list.
While Tencent Music Entertainment Group currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here