Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) Stock Now Rated “Hold” by Sell-Side Brokerages

Shares of Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) have been given an average rating of “Hold” by the thirteen analysts that are presently covering the company, MarketBeat.com reports. Nine research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $17.21.

Several analysts have commented on the company. China Renaissance raised Tencent Music Entertainment Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 14th. UBS Group set a $15.00 target price on Tencent Music Entertainment Group in a report on Wednesday, August 12th. Mizuho cut their target price on Tencent Music Entertainment Group from $18.00 to $15.00 and set an “outperform” rating for the company in a research note on Wednesday, August 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tencent Music Entertainment Group in a report on Monday, September 28th. Finally, Nomura set a $10.00 price objective on shares of Tencent Music Entertainment Group and gave the stock a “neutral” rating in a research report on Thursday, August 13th.

Tencent Music Entertainment Group Stock Performance

Shares of TME opened at $8.51 on Tuesday. The stock has a 50-day moving average of $8.31 and a two-hundred day moving average of $8.83. The stock has a market cap of $13.40 billion, a P/E ratio of 10.51, a P/E/G ratio of 1.49 and a beta of 0.78. Tencent Music Entertainment Group has a one year low of $7.66 and a one year high of $23.85. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.74 and a current ratio of 1.74.

Tencent Music Entertainment Group (NYSE:TME) last announced its quarterly earnings results on Tuesday, June 30th. The company reported $0.25 earnings per share for the quarter. The company had revenue of $1.31 billion for the quarter. Tencent Music Entertainment Group had a return on equity of 11.53% and a net margin of 26.27%. As a group, research analysts predict that Tencent Music Entertainment Group will post 0.87 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Encompass More Asset Management purchased a new position in shares of Tencent Music Entertainment Group during the 3rd quarter worth approximately $92,000. Gibbs Wealth Management acquired a new position in Tencent Music Entertainment Group during the third quarter worth $96,000. Sax Wealth Advisors LLC purchased a new position in shares of Tencent Music Entertainment Group during the third quarter worth $98,000. Avise Financial Cooperative Inc. acquired a new stake in shares of Tencent Music Entertainment Group in the second quarter valued at $101,000. Finally, NewEdge Wealth LLC acquired a new stake in shares of Tencent Music Entertainment Group in the first quarter valued at $106,000. Hedge funds and other institutional investors own 24.32% of the company’s stock.

Tencent Music Entertainment Group Company Profile

Tencent Music Entertainment Group is a China-based online music and audio entertainment company. Established in 2016 through the combination of Tencent’s online music businesses, the company operates digital platforms that provide music streaming, audio content and interactive entertainment services.

Its principal services include QQ Music, Kugou Music and Kuwo Music, which offer licensed songs, playlists, music videos, podcasts and other audio programming. Tencent Music also operates WeSing, a social karaoke platform that enables users to sing, record and share performances.