Tencent Music Entertainment Group (NYSE:TME – rated) An equity research analyst at Goldman Sachs Group Inc. was upgraded from a “sell” rating to a “neutral” rating in a note issued to investors on Monday, Briefing.com reports. The broker’s current price target is $8.00. Goldman Sachs Group’s price target suggests a potential decline of 11.11% from the company’s current price.
Several other research firms have also recently published reports on TME. In his Wednesday, Nov. 16 report, Benchmark upgraded Tencent Music Entertainment Group’s stock from a ‘hold’ rating to a ‘buy’ rating and set a price target for the company at his $7.00. JPMorgan Chase & Company upgraded Tencent Music Entertainment Group’s stock from a ‘neutral’ rating to an ‘overweight’ rating, with a price target from $4.80 on the company, in a report on Monday, Nov. 21. Raised to $7.70. Finally, in his Thursday, December 1 report, Morgan Stanley upgraded Tencent Music Entertainment Group’s stock from an ‘equal weight’ rating to an ‘overweight’ rating, raising the company’s price target from $4.50 to his $4.50. of $8.50. Two analysts rated the stock with a holding rating and three assigned a buy rating to the company’s stock. Based on MarketBeat data, the company’s consensus rating is a “moderate buy” with a consensus price target of $7.07.
Price performance of Tencent Music Entertainment Group
The NYSE TME on Monday opened at $9.00. Tencent Music Entertainment Group has a 52-week low of $2.95 and a 52-week high of $9.29. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt to equity ratio of 0.12. The stock has a market cap of $15.26 billion, a price/earnings ratio of 32.14, a price/earnings ratio of 0.79 and a beta of 0.79. The company has a 50-day moving average price of $6.65 and a 200-day moving average price of $5.23.
Tencent Music Entertainment Group (NYSE:TME – Get Rating) announced its final results on Tuesday, November 15th. The company reported quarterly EPS of $0.10, $0.02 above consensus expectations of $0.08. Tencent Music Entertainment Group posted a net profit margin of 10.61% and a return on equity of 6.74%. The company posted revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. Analysts expect Tencent Music Entertainment Group’s EPS to hit 0.36 this year.
Tencent Music Entertainment Group Institutional Deal
Large investors have recently increased or decreased their stake in the business. Asset Management One Co. Ltd. raised his position in Tencent Music Entertainment Group by 2.5% in the second quarter. Asset Management One Co. Ltd. now owns 131,653 shares of the company worth $660,000 after he purchased an additional 3,250 shares last quarter. First Trust Advisors LP increased his stake in Tencent Music Entertainment Group by 3.4% in the first quarter. First Trust Advisors LP now owns 111,698 shares of the company worth $544,000 after he purchased an additional 3,722 shares during the previous quarter. Sumitomo Mitsui DS Asset Management increased its stake in Tencent Music Entertainment Group by 33.5% in the second quarter. Sumitomo Mitsui DS Asset Management Co., Ltd. owns 14,896 shares worth $75,000 after purchasing an additional 3,738 shares during the previous quarter. Parallel Advisors LLC increased its stake in Tencent Music Entertainment Group by 50.0% in the second quarter. Parallel Advisors LLC now owns 11,795 shares worth $59,000 after purchasing an additional 3,931 shares during the previous quarter. Finally, Signaturefd LLC increased its stake in Tencent Music Entertainment Group by 6.4% in the third quarter. Signaturefd LLC now owns 65,591 shares worth $266,000 after purchasing an additional 3,964 shares during the previous quarter. Currently 21.77% of the shares are owned by institutional investors.
Tencent Music Entertainment Group Company Profile
Tencent Music Entertainment Group operates an online music entertainment platform that provides music streaming, online karaoke and live streaming services in the People’s Republic of China. It offers QQ Music, Kugou Music and Kuwo Music, allowing users to find and listen to music in a personalized way. WeSing allows users to have fun by singing and interacting with friends, sharing singing performances with friends, and discovering songs sung by others.
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