Tencent Music Entertainment Group (NYSE:TME) Given Average Rating of “Moderate Buy” by Brokerages

Tencent Music Entertainment Group (NYSE:TME) has been given an average rating of “Moderate Buy” by the nine ratings firms that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $15.00.

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

Tencent Music Entertainment Group Stock Performance

Shares of TME stock opened at $14.73 on Friday. The firm has a 50 day moving average of $12.75 and a two-hundred day moving average of $11.92. The stock has a market capitalization of $25.28 billion, a PE ratio of 27.28, a P/E/G ratio of 0.77 and a beta of 0.70. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.09. Tencent Music Entertainment Group has a 52 week low of $9.41 and a 52 week high of $15.77.

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 issued a $0.18 dividend. This represents a yield of 0.9%. This is an increase from Tencent Music Entertainment Group’s previous annual dividend of $0.12. The ex-dividend date is Thursday, April 3rd. Tencent Music Entertainment Group’s dividend payout ratio is 30.51%.

Institutional Trading of Tencent Music Entertainment Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB purchased a new position in shares of Tencent Music Entertainment Group in the 3rd quarter valued at $64,000. Avior Wealth Management LLC grew its holdings in shares of Tencent Music Entertainment Group by 253.8% during the third quarter. Avior Wealth Management LLC now owns 5,675 shares of the company’s stock worth $68,000 after purchasing an additional 4,071 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Tencent Music Entertainment Group during the fourth quarter worth about $110,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Tencent Music Entertainment Group during the fourth quarter worth about $114,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Tencent Music Entertainment Group by 10.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,138 shares of the company’s stock valued at $126,000 after purchasing an additional 1,094 shares during the last quarter. Institutional investors and hedge funds 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.