Tencent Music Entertainment Group (NYSE:TME – Get Free Report) has been given an average recommendation of “Moderate Buy” by the eleven analysts that are currently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $8.72.
Several equities research analysts have commented on TME shares. HSBC dropped their price target on Tencent Music Entertainment Group from $8.40 to $7.40 in a research note on Thursday, July 20th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $7.50 price objective on shares of Tencent Music Entertainment Group in a research report on Wednesday, July 26th. Bank of America reduced their target price on shares of Tencent Music Entertainment Group from $10.00 to $8.80 and set a “buy” rating on the stock in a report on Wednesday, August 16th. Finally, Citigroup lowered their price target on Tencent Music Entertainment Group from $7.50 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, August 16th.
Hedge Funds Weigh In On Tencent Music Entertainment Group
Tencent Music Entertainment Group Stock Up 1.6 %
TME opened at $7.54 on Thursday. Tencent Music Entertainment Group has a 12 month low of $3.64 and a 12 month high of $9.29. The business has a 50-day moving average of $6.69 and a two-hundred day moving average of $7.01. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.50 and a quick ratio of 2.50. The stock has a market capitalization of $12.94 billion, a price-to-earnings ratio of 17.95, a price-to-earnings-growth ratio of 0.79 and a beta of 0.78.
Tencent Music Entertainment Group (NYSE:TME – Get Free Report) last released its earnings results on Tuesday, August 15th. The company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.06). Tencent Music Entertainment Group had a net margin of 16.00% and a return on equity of 9.87%. The company had revenue of $7.29 billion during the quarter, compared to analysts’ expectations of $7.30 billion. During the same quarter in the previous year, the firm posted $0.07 earnings per share. Tencent Music Entertainment Group’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, research analysts expect that Tencent Music Entertainment Group will post 0.45 earnings per share for the current year.
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; 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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