Shares of Tencent Music Entertainment Group (NYSE:TME – Get Free Report) have been given a consensus rating of “Moderate Buy” by the thirteen ratings firms that are covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $11.63.
TME has been the subject of several analyst reports. Bank of America boosted their target price on Tencent Music Entertainment Group from $10.50 to $12.30 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. CLSA assumed coverage on shares of Tencent Music Entertainment Group in a research note on Monday, February 5th. They issued an “outperform” rating and a $10.50 target price for the company. Morgan Stanley lifted their price target on shares of Tencent Music Entertainment Group from $11.00 to $13.50 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. Citigroup raised Tencent Music Entertainment Group from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $9.00 to $13.00 in a research note on Wednesday, March 20th. Finally, Redburn Atlantic began coverage on Tencent Music Entertainment Group in a research note on Monday, February 5th. They issued a “buy” rating and a $12.00 target price for the company.
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Institutional Trading of Tencent Music Entertainment Group
Tencent Music Entertainment Group Stock Up 3.4 %
NYSE:TME opened at $13.50 on Thursday. The company has a market cap of $23.17 billion, a price-to-earnings ratio of 30.68, a P/E/G ratio of 0.80 and a beta of 0.77. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.49 and a current ratio of 2.49. The stock’s fifty day moving average price is $11.28 and its two-hundred day moving average price is $9.51. Tencent Music Entertainment Group has a 52-week low of $5.70 and a 52-week high of $13.50.
Tencent Music Entertainment Group (NYSE:TME – Get Free Report) last announced its quarterly earnings data on Tuesday, March 19th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.01. Tencent Music Entertainment Group had a return on equity of 9.67% and a net margin of 17.71%. The firm had revenue of $971.00 million during the quarter, compared to analysts’ expectations of $925.06 million. On average, analysts anticipate that Tencent Music Entertainment Group will post 0.58 EPS for the current year.
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; and WeSing, which enables users to sing from its library of karaoke songs and share their performances in audio or video formats with friends.
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