Tencent Music Entertainment Group (NYSE: TME) given average rating of “Keep” by brokerage firms
Shares of Tencent Music Entertainment Group (NYSE: TME) received an average rating of “Hold” from the eighteen rating companies that hedge the stock, Marketbeat Ratings reports. Two investment analysts rated the stock with a sell recommendation, ten gave a hold recommendation and five gave the company a buy recommendation. The one-year average price target among brokers who issued ratings on the stock in the past year is $ 15.82.
A number of equity analysts have recently commented on TME stocks. JPMorgan Chase & Co. downgraded Tencent Music Entertainment Group from an “overweight” rating to a “neutral” rating in a report released on Wednesday, August 11. Loop Capital downgraded Tencent Music Entertainment Group from a “buy” rating to a “keep” rating and lowered its price target for the company from $ 17.00 to $ 10.00 in a research report on Monday, September 13. TheStreet downgraded Tencent Music Entertainment Group from a âc-â rating to a âd +â rating in a research report released Thursday, August 12. HSBC downgraded Tencent Music Entertainment Group from a âbuyâ rating to a âkeepâ rating and set a target price of $ 8.00 for the stock. in a research note on Tuesday August 17. Ultimately, Zacks investment research upgraded Tencent Music Entertainment Group from a âsellâ rating to a âconservationâ rating in a Wednesday, October 20 research note.
Several hedge funds and other institutional investors have recently changed their positions in the company. JJJ Advisors Inc. increased its position in shares of Tencent Music Entertainment Group by 422.1% in the third quarter. JJJ Advisors Inc. now owns 3,404 shares of the company valued at $ 25,000 after purchasing an additional 2,752 shares in the last quarter. Lindbrook Capital LLC increased its stake in Tencent Music Entertainment Group shares by 281.1% during the second quarter. Lindbrook Capital LLC now owns 2,317 shares of the company valued at $ 36,000 after purchasing an additional 1,709 shares in the last quarter. Advisors Asset Management Inc. increased its stake in shares of Tencent Music Entertainment Group by 113.6% during the second quarter. Advisors Asset Management Inc. now owns 2,320 shares of the company valued at $ 36,000 after purchasing an additional 1,234 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new equity stake in Tencent Music Entertainment Group in the second quarter valued at $ 38,000. Finally, Steward Partners Investment Advisory LLC purchased a new stake in Tencent Music Entertainment Group shares in the second quarter valued at $ 39,000. Institutional investors hold 28.05% of the shares of the company.
TME stock opened at $ 7.62 on Monday. Tencent Music Entertainment Group has a twelve-month low of $ 6.82 and a twelve-month high of $ 32.25. The company has a current ratio of 2.62, a quick ratio of 2.87 and a debt ratio of 0.10. The company has a 50-day simple moving average of $ 7.82 and a 200-day simple moving average of $ 10.99. The company has a market cap of $ 12.78 billion, a P / E ratio of 22.41, a PEG ratio of 9.32 and a beta of 1.11.
Tencent Music Entertainment Group (NYSE: TME) last released its results on Sunday, November 7. The company reported earnings per share of $ 0.61 for the quarter, beating the consensus estimate of $ 0.06 by Thomson Reuters by $ 0.55. The company posted revenue of $ 7.81 billion for the quarter, compared to analysts’ estimates of $ 7.80 billion. Tencent Music Entertainment Group reported a return on equity of 7.98% and a net margin of 11.53%. Tencent Music Entertainment Group revenue increased 3.0% compared to the same quarter last year. In the same quarter of the previous year, the company made a profit of $ 0.11 per share. Research analysts predict Tencent Music Entertainment Group will post 0.28 EPS for the current fiscal year.
Tencent Music Entertainment Group Company Profile
Tencent Music Entertainment Group operates an online music entertainment platform. Its platform includes online music, online karaoke, and music-focused live streaming products. The company was founded on June 6, 2012 and is headquartered in Beijing, China.
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