On Tuesday, Tencent’s TME Entertainment Group will release financial results 2023
Tencent Music Entertainment Group (NYSE: TME – Get Rating) is expected to report quarterly earnings before the market opens on March 21st. Analysts anticipate Tencent Music Entertainment Group to report quarterly earnings of $0.12 per share. Anyone interested in listening to the company’s results conference call can do so via
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Tencent Music Entertainment Group Stock Price Up 1.3%
- Much Lower Tencent Music Stock Is a Dangerous Yet Rewarding Gamble
TME shares started Tuesday at $7.62 per share. The company’s market cap is $12.92 billion, its P/E ratio is 27.21, its P/E/G ratio is 0.66, and its beta is 0.80. The twelve-month low for Tencent Music Entertainment Group is $2.95 and the twelve-month high is $9.29. The company’s quick ratio, current ratio, and debt-to-equity ratio are 2.15, 2.15, and 0.12, respectively. The fifty-day simple moving average of the stock is $8.30, while the 200-day simple moving average is $6.42.
Upgrades and Downgrades by Analysts
Many brokerages have lately commented on TME. In a report published on Monday, January 9th, Goldman Sachs Group upgraded Tencent Music Entertainment Group from a “sell” rating to a “neutral” rating and increased their price target for the stock from $5.00 to $8.00. In research published on Thursday, December 1st, Morgan Stanley upgraded Tencent Music Entertainment Group from “equal weight” to “overweight” and increased their price objective for the company from $4.50 to $8.00. 86 In research published on Thursday, January 19th, Research lowered Tencent Music Entertainment Group from a “buy” recommendation to a “hold” one. In a report published on Wednesday, November 16th, Benchmark upgraded Tencent Music Entertainment Group from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock. In a report dated January 30th, JPMorgan Chase & Co. assumed coverage of Tencent Music Entertainment Group. They assigned the stock a “overweight” rating. Two analysts have assigned a “hold” recommendation to the company, while four have issued a “buy” rating. The company has an average rating of “Moderate Buy” and an average price target of $7.02, according to MarketBeat.com.
The Opinions of Hedge Funds Regarding Tencent Music Entertainment Group
Numerous institutional investors have adjusted their TME holdings in recent months. In the second quarter, Vanguard Customized Indexing Management LLC increased its holdings in shares of Tencent Music Entertainment Group by 78.2%. After purchasing an additional 15,516 shares during the preceding quarter, Vanguard Customized Indexing Management LLC now owns 35,365 shares of the company’s stock valued at $178,000. In the first quarter, Eaton Vance Management increased its holdings in Tencent Music Entertainment Group by 1,251.5%. Eaton Vance Management now owns 36,314 shares of the company’s stock valued at $177,000 after acquiring an additional 33,614 shares in the last recent quarter. Flow Traders U.S. LLC acquired around $166,000 worth of Tencent Music Entertainment Group shares in the fourth quarter. In the first quarter, US Bancorp DE increased its holdings of Tencent Music Entertainment Group by 16.0%. After acquiring an additional 4,520 shares during the preceding quarter, US Bancorp DE now holds 32,719 shares of the company’s stock worth $159,000. In the first quarter, Envestnet Asset Management Inc. increased its holdings in Tencent Music Entertainment Group shares by 32.8%. Envestnet Asset Management Inc. now holds 31,091 shares of the company’s stock valued at $151,000 after acquiring an additional 7,680 shares in the last recent quarter. Institutional investors hold 21.77 percent of the stock.
