Analysts Set Tencent Music Entertainment Group (NYSE:TME) Target Price at $15.00

Shares of Tencent Music Entertainment Group (NYSE:TME) have earned a consensus recommendation of “Moderate Buy” from the ten research firms that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $15.00.

A number of brokerages have weighed in on TME. Morgan Stanley reaffirmed an “overweight” rating on shares of Tencent Music Entertainment Group in a research note on Tuesday, March 18th. Mizuho lifted their price objective on Tencent Music Entertainment Group from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Wednesday, March 19th. Deutsche Bank Aktiengesellschaft raised Tencent Music Entertainment Group from a “hold” rating to a “buy” rating in a research note on Wednesday, March 26th. Finally, Nomura Securities raised Tencent Music Entertainment Group to a “strong-buy” rating in a research report on Tuesday, April 8th.

Tencent Music Entertainment Group Stock Down 2.4 %

NYSE:TME opened at $11.99 on Thursday. Tencent Music Entertainment Group has a 1-year low of $9.41 and a 1-year high of $15.77. The company has a market capitalization of $20.58 billion, a PE ratio of 22.20, a P/E/G ratio of 0.77 and a beta of 0.50. The firm’s 50-day moving average price is $13.19 and its 200-day moving average price is $12.19. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.34 and a quick ratio of 2.34.

Tencent Music Entertainment Group Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 3rd will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This is a boost from Tencent Music Entertainment Group’s previous annual dividend of $0.12. This represents a dividend yield of 0.9%. Tencent Music Entertainment Group’s dividend payout ratio (DPR) is 28.81%.

Hedge Funds Weigh In On Tencent Music Entertainment Group

A number of hedge funds have recently bought and sold shares of TME. Wilmington Savings Fund Society FSB bought a new stake in shares of Tencent Music Entertainment Group in the third quarter worth approximately $64,000. SBI Securities Co. Ltd. bought a new stake in Tencent Music Entertainment Group in the 4th quarter worth approximately $110,000. Oppenheimer Asset Management Inc. purchased a new stake in Tencent Music Entertainment Group during the 4th quarter valued at $114,000. PNC Financial Services Group Inc. lifted its holdings in shares of Tencent Music Entertainment Group by 10.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,138 shares of the company’s stock valued at $126,000 after buying an additional 1,094 shares during the period. Finally, Unigestion Holding SA bought a new position in shares of Tencent Music Entertainment Group during the 4th quarter valued at $161,000. 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; long-form audio content, including audiobooks, podcasts and talk shows, as well as music-oriented video content comprising music videos, live performances, and short videos; and WeSing, which enables users to sing along from its library of karaoke songs and share their performances in audio or video formats with friends.