Tencent Music Entertainment Group (NYSE:TME) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Tencent Music Entertainment Group (NYSE:TMEGet Rating) have been given an average recommendation of “Hold” by the fifteen research firms that are presently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $9.05.

A number of analysts have recently commented on TME shares. Zacks Investment Research cut Tencent Music Entertainment Group from a “buy” rating to a “sell” rating in a research report on Saturday, May 21st. HSBC cut their price objective on Tencent Music Entertainment Group from $5.10 to $3.90 in a research report on Tuesday, May 17th. JPMorgan Chase & Co. cut their price objective on Tencent Music Entertainment Group from $6.00 to $3.50 in a research report on Monday, March 14th. Finally, The Goldman Sachs Group started coverage on Tencent Music Entertainment Group in a research report on Sunday, April 10th. They issued a “sell” rating and a $5.60 price objective for the company.

Shares of NYSE:TME opened at $4.45 on Friday. Tencent Music Entertainment Group has a 12-month low of $2.95 and a 12-month high of $16.34. The company has a market capitalization of $7.47 billion, a PE ratio of 17.12, a PEG ratio of 1.41 and a beta of 1.12. The business has a 50 day moving average of $4.33 and a two-hundred day moving average of $5.39. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.10.

Tencent Music Entertainment Group (NYSE:TMEGet Rating) last announced its quarterly earnings results on Monday, May 16th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.48. The company had revenue of $6.64 billion during the quarter, compared to the consensus estimate of $6.65 billion. Tencent Music Entertainment Group had a return on equity of 6.21% and a net margin of 9.01%. Tencent Music Entertainment Group’s revenue for the quarter was down 15.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 earnings per share. Equities research analysts predict that Tencent Music Entertainment Group will post 0.23 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the business. JJJ Advisors Inc. grew its holdings in Tencent Music Entertainment Group by 74.5% in the 4th quarter. JJJ Advisors Inc. now owns 5,940 shares of the company’s stock valued at $41,000 after buying an additional 2,536 shares in the last quarter. HighTower Advisors LLC purchased a new stake in Tencent Music Entertainment Group in the 1st quarter valued at $51,000. Lindbrook Capital LLC grew its holdings in Tencent Music Entertainment Group by 294.8% in the 4th quarter. Lindbrook Capital LLC now owns 8,251 shares of the company’s stock valued at $57,000 after buying an additional 6,161 shares in the last quarter. Ground Swell Capital LLC grew its holdings in Tencent Music Entertainment Group by 25.5% in the 1st quarter. Ground Swell Capital LLC now owns 13,223 shares of the company’s stock valued at $64,000 after buying an additional 2,690 shares in the last quarter. Finally, American International Group Inc. grew its holdings in Tencent Music Entertainment Group by 71.1% in the 3rd quarter. American International Group Inc. now owns 8,901 shares of the company’s stock valued at $65,000 after buying an additional 3,700 shares in the last quarter.

Tencent Music Entertainment Group Company Profile (Get Rating)

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 and listen to music in personalized ways; and WeSing, which enables users to have fun by singing and interacting with friends, sharing their singing performances with friends, and discovering songs that others have sung.

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