Analysts Set Tencent Music Entertainment Group (NYSE:TME) Target Price at $15.00

Tencent Music Entertainment Group (NYSE:TME) has been assigned an average rating of “Moderate Buy” from the eight ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and six have given 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.

Several analysts have recently weighed in on the stock. Mizuho lifted their price target on shares of Tencent Music Entertainment Group from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Wednesday, March 19th. Morgan Stanley upgraded shares of Tencent Music Entertainment Group from an “equal weight” rating to an “overweight” rating and set a $13.00 target price for the company in a research note on Tuesday, January 21st.

Institutional Trading of Tencent Music Entertainment Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Wilmington Savings Fund Society FSB acquired a new position in Tencent Music Entertainment Group during the third quarter valued at $64,000. Avior Wealth Management LLC lifted its holdings in shares of Tencent Music Entertainment Group by 253.8% in the 3rd quarter. Avior Wealth Management LLC now owns 5,675 shares of the company’s stock valued at $68,000 after buying an additional 4,071 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Tencent Music Entertainment Group in the fourth quarter worth about $110,000. Oppenheimer Asset Management Inc. acquired a new stake in Tencent Music Entertainment Group during the fourth quarter worth about $114,000. Finally, PNC Financial Services Group Inc. raised its position in Tencent Music Entertainment Group by 10.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,138 shares of the company’s stock valued at $126,000 after acquiring an additional 1,094 shares in the last quarter. 24.32% of the stock is currently owned by institutional investors and hedge funds.

Tencent Music Entertainment Group Trading Up 0.8 %

TME opened at $14.29 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.34 and a current ratio of 2.34. The stock’s 50 day moving average price is $12.58 and its 200-day moving average price is $11.89. Tencent Music Entertainment Group has a one year low of $9.41 and a one year high of $15.77. The stock has a market cap of $24.52 billion, a price-to-earnings ratio of 26.46, a P/E/G ratio of 0.77 and a beta of 0.70.

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

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; 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.