Tencent Music Entertainment Group (NYSE:TME) Receives $15.00 Average Target Price from Analysts

Tencent Music Entertainment Group (NYSE:TME) has earned an average recommendation of “Moderate Buy” from the nine brokerages that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $15.00.

TME has been the subject of several recent research reports. Morgan Stanley reiterated an “overweight” rating on shares of Tencent Music Entertainment Group in a research note on Tuesday, March 18th. Deutsche Bank Aktiengesellschaft raised Tencent Music Entertainment Group from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Mizuho boosted their target price on Tencent Music Entertainment Group from $16.00 to $17.00 and gave the company an “outperform” rating in a report on Wednesday, March 19th.

Tencent Music Entertainment Group Stock Up 2.3 %

TME stock opened at $14.73 on Friday. Tencent Music Entertainment Group has a 12 month low of $9.41 and a 12 month high of $15.77. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.34 and a quick ratio of 2.34. The company has a market cap of $25.28 billion, a price-to-earnings ratio of 27.28, a price-to-earnings-growth ratio of 0.77 and a beta of 0.70. The company has a fifty day moving average price of $12.75 and a 200 day moving average price of $11.92.

Tencent Music Entertainment Group Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 3rd will be paid a $0.18 dividend. The ex-dividend date is Thursday, April 3rd. This is an increase from Tencent Music Entertainment Group’s previous annual dividend of $0.12. This represents a dividend yield of 0.9%. Tencent Music Entertainment Group’s payout ratio is 30.51%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TME. Bank of Montreal Can boosted its position in shares of Tencent Music Entertainment Group by 86.0% during the 3rd quarter. Bank of Montreal Can now owns 181,991 shares of the company’s stock worth $2,235,000 after purchasing an additional 84,161 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Tencent Music Entertainment Group by 33.6% during the third quarter. BNP Paribas Financial Markets now owns 1,911,048 shares of the company’s stock worth $23,028,000 after buying an additional 480,504 shares in the last quarter. Nordea Investment Management AB grew its position in Tencent Music Entertainment Group by 9.5% during the fourth quarter. Nordea Investment Management AB now owns 1,464,366 shares of the company’s stock worth $16,738,000 after buying an additional 127,561 shares during the period. Oppenheimer Asset Management Inc. purchased a new position in Tencent Music Entertainment Group in the fourth quarter valued at about $114,000. Finally, Principal Financial Group Inc. lifted its position in shares of Tencent Music Entertainment Group by 4.0% during the 3rd quarter. Principal Financial Group Inc. now owns 5,478,297 shares of the company’s stock valued at $66,013,000 after acquiring an additional 211,873 shares during the period. Hedge funds and other institutional investors own 24.32% of the company’s stock.

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; long-form audio content, including audiobooks, podcasts and talk shows, as well as music-oriented video content comprising music videos, live performances, and short videos; and WeSing, which enables users to sing along from its library of karaoke songs and share their performances in audio or video formats with friends.