2 weeks Ago By Defense World Staff
Shares of Tencent Music Entertainment Group ( NYSE:TME – Get Free Report ) have received a consensus rating of “Moderate Buy” from the thirteen analysts that are covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company.
The average 12 month price objective among brokerages that have covered the stock in the last year is $12.67. Several research firms have issued reports on TME.
Morgan Stanley cut Tencent Music Entertainment Group from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $15.00 to $13.00 in a research report on Wednesday.
Daiwa Capital Markets cut shares of Tencent Music Entertainment Group from an “outperform” rating to a “neutral” rating in a research note on Tuesday, August 13th. Benchmark decreased their price objective on shares of Tencent Music Entertainment Group from $19.00 to $15.
00 and set a “buy” rating on the stock in a report on Wednesday, August 14th. Mizuho dropped their target price on shares of Tencent Music Entertainment Group from $17.00 to $16.
00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. Finally, Bank of America decreased their price target on Tencent Music Entertainment Group from $18.00 to $15.
00 and set a “buy” rating on the stock in a research note on Wednesday, August 14th. Check Out Our Latest Stock Report on TME Tencent Music Entertainment Group Stock Up 0.1 % Tencent Music Entertainment Group ( NYSE:TME – Get Free Report ) last announced its quarterly earnings data on Tuesday, August 13th.
The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.
01). Tencent Music Entertainment Group had a net margin of 20.35% and a return on equity of 10.
11%. The firm had revenue of $985.00 million during the quarter, compared to analyst estimates of $1 billion.
On average, analysts forecast that Tencent Music Entertainment Group will post 0.63 earnings per share for the current year. Institutional Inflows and Outflows Several institutional investors have recently bought and sold shares of the business.
Cetera Investment Advisers boosted its holdings in shares of Tencent Music Entertainment Group by 10.8% during the second quarter. Cetera Investment Advisers now owns 84,366 shares of the company’s stock worth $1,185,000 after purchasing an additional 8,216 shares during the last quarter.
Creative Planning boosted its stake in Tencent Music Entertainment Group by 19.7% in the 2nd quarter. Creative Planning now owns 81,560 shares of the company’s stock worth $1,146,000 after buying an additional 13,421 shares during the last quarter.
Driehaus Capital Management LLC boosted its stake in Tencent Music Entertainment Group by 37.0% in the 2nd quarter. Driehaus Capital Management LLC now owns 7,129,342 shares of the company’s stock worth $100,167,000 after buying an additional 1,925,124 shares during the last quarter.
SIH Partners LLLP purchased a new stake in Tencent Music Entertainment Group in the 2nd quarter valued at about $282,000. Finally, Dorsey Wright & Associates acquired a new position in shares of Tencent Music Entertainment Group during the 2nd quarter valued at about $2,808,000. 24.
32% of the stock is currently owned by institutional investors and hedge funds. Tencent Music Entertainment Group Company Profile ( Get Free Report 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.
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