Shares of Tencent Music Entertainment Group (NYSE:TME – Get Free Report) have been given a consensus recommendation of “Moderate Buy” by the eleven ratings firms that are currently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $8.52.
A number of brokerages have commented on TME. Benchmark reissued a “buy” rating and set a $9.00 target price on shares of Tencent Music Entertainment Group in a report on Wednesday. HSBC dropped their price target on Tencent Music Entertainment Group from $8.40 to $7.40 in a research report on Thursday, July 20th. Bank of America dropped their price target on Tencent Music Entertainment Group from $10.00 to $8.80 and set a “buy” rating for the company in a research report on Wednesday, August 16th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $7.50 price target on shares of Tencent Music Entertainment Group in a research report on Wednesday, July 26th. Finally, Citigroup dropped their price target on Tencent Music Entertainment Group from $7.50 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, August 16th.
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Tencent Music Entertainment Group Price Performance
Shares of Tencent Music Entertainment Group stock opened at $8.24 on Thursday. The business has a 50 day simple moving average of $6.76 and a two-hundred day simple moving average of $7.02. Tencent Music Entertainment Group has a 12 month low of $5.07 and a 12 month high of $9.29. The stock has a market capitalization of $14.13 billion, a P/E ratio of 19.61, a PEG ratio of 0.79 and a beta of 0.78. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.50 and a quick ratio of 2.50.
Tencent Music Entertainment Group (NYSE:TME – Get Free Report) last announced its earnings results on Tuesday, November 14th. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.63. Tencent Music Entertainment Group had a return on equity of 9.87% and a net margin of 16.00%. The business had revenue of $6.57 billion during the quarter, compared to analysts’ expectations of $6.28 billion. During the same quarter in the prior year, the firm earned $0.10 earnings per share. The business’s revenue was down 10.8% compared to the same quarter last year. As a group, analysts predict that Tencent Music Entertainment Group will post 0.45 EPS for the current fiscal 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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