Tencent Music Entertainment Group (NYSE:TME – Get Free Report) has earned an average rating of “Moderate Buy” from the thirteen research firms that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $11.63.
Several research analysts recently issued reports on the stock. Benchmark upped their price target on shares of Tencent Music Entertainment Group from $9.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Bank of America boosted their price objective on shares of 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. HSBC lifted their target price on Tencent Music Entertainment Group from $9.50 to $10.40 and gave the company a “hold” rating in a research note on Wednesday, March 20th. The Goldman Sachs Group upgraded Tencent Music Entertainment Group from a “neutral” rating to a “buy” rating and set a $14.00 price target on the stock in a report on Wednesday, March 20th. Finally, CLSA started coverage on Tencent Music Entertainment Group in a report on Monday, February 5th. They set an “outperform” rating and a $10.50 price objective for the company.
Check Out Our Latest Report on TME
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Tencent Music Entertainment Group Stock Performance
NYSE TME opened at $13.26 on Thursday. The firm has a market cap of $22.75 billion, a price-to-earnings ratio of 30.13, a PEG ratio of 0.83 and a beta of 0.77. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 0.10. Tencent Music Entertainment Group has a 1-year low of $5.70 and a 1-year high of $13.66. The company has a 50 day moving average of $11.40 and a 200-day moving average of $9.65.
Tencent Music Entertainment Group (NYSE:TME – Get Free Report) last issued its quarterly earnings data on Tuesday, March 19th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.01. The firm had revenue of $971.00 million during the quarter, compared to the consensus estimate of $925.06 million. Tencent Music Entertainment Group had a return on equity of 9.67% and a net margin of 17.71%. On average, equities analysts forecast that Tencent Music Entertainment Group will post 0.58 earnings per share for the current fiscal 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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