Shares of Tencent Music Entertainment Group (NYSE:TME – Get Free Report) have earned an average recommendation of “Moderate Buy” from the eleven brokerages that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $12.75.
Several brokerages recently issued reports on TME. Mizuho raised their target price on Tencent Music Entertainment Group from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Benchmark lifted their price objective on Tencent Music Entertainment Group from $14.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, May 14th.
Read Our Latest Research Report on Tencent Music Entertainment Group
Institutional Trading of Tencent Music Entertainment Group
Tencent Music Entertainment Group Stock Up 4.4 %
Shares of NYSE:TME opened at $14.89 on Tuesday. The firm has a market cap of $25.55 billion, a P/E ratio of 32.37, a P/E/G ratio of 1.07 and a beta of 0.68. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 0.09. Tencent Music Entertainment Group has a 12-month low of $5.70 and a 12-month high of $15.77. The business has a fifty day simple moving average of $14.63 and a 200 day simple moving average of $12.07.
Tencent Music Entertainment Group (NYSE:TME – Get Free Report) last announced its earnings results on Monday, May 13th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.01. The business had revenue of $937.00 million during the quarter, compared to analyst estimates of $904.29 million. Tencent Music Entertainment Group had a return on equity of 9.85% and a net margin of 18.88%. Analysts predict that Tencent Music Entertainment Group will post 0.62 earnings per share for the current year.
Tencent Music Entertainment Group Dividend Announcement
The company also recently announced an annual dividend, which was paid on Thursday, June 27th. Investors of record on Friday, May 31st were given a $0.121 dividend. This represents a yield of 0.78%. The ex-dividend date was Friday, May 31st. Tencent Music Entertainment Group’s payout ratio is 28.26%.
About Tencent Music Entertainment Group
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.
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