Tencent Music Entertainment Group Receives Consensus Recommendation of 'Moderate Buy' from Analysts

Tencent Music Entertainment Group (NYSE:TME) has received a consensus rating of "Moderate Buy" from eight brokerages covering the company, according to recent reports. Out of these analysts, two have assigned a "hold" rating, while six have given the stock a "buy" rating. The average target price for the next year set by these brokers is $15.00.

Research Analyst Upgrades

Analysts have shown increasing optimism about Tencent Music Entertainment Group in their recent reports. For instance, Mizuho raised their target price from $16.00 to $17.00, affirming an "outperform" rating. Additionally, Morgan Stanley upgraded their recommendation from "equal weight" to "overweight" and established a price objective of $13.00 for the stock in their notes from January 21st.

Institutional Investments

There has been significant activity concerning institutional investors in Tencent Music Entertainment Group. For example, Wilmington Savings Fund Society FSB acquired a new position in the company during the third quarter, investing approximately $64,000. Avior Wealth Management LLC also raised their stake by an impressive 253.8%. They now hold 5,675 shares worth $68,000 after purchasing an additional 4,071 shares during the last quarter. Other investors, like SBI Securities Co. Ltd. and Oppenheimer Asset Management Inc., have also taken new positions, showing increasing interest in the company's stock. Currently, hedge funds and institutional investors hold about 24.32% of Tencent Music Entertainment Group's shares.

Stock Performance

Tencent Music Entertainment Group opened at $14.00 recently. With a 50-day simple moving average of $12.43 and a 200-day simple moving average of $11.82, the stock has shown strong performance. The company's debt-to-equity ratio stands at 0.09, while both the quick ratio and current ratio are at 2.34. The stock has experienced volatility over the past year, with a low of $9.41 and a high of $15.77. Its market capitalization is currently $24.02 billion, with a price-to-earnings ratio of 25.92 and a price-to-earnings-growth ratio of 0.77.

Upcoming Dividend Announcement

Tencent Music Entertainment Group has announced an increase in its annual dividend, which is set to be paid on April 24th. Shareholders recorded on April 3rd will receive a dividend of $0.18 per share, up from the previous year's dividend of $0.12. This new dividend represents a yield of 0.9%, while the company's payout ratio is currently at 22.03%.

Company Overview

Tencent Music Entertainment Group operates various online music platforms that offer services such as music streaming, online karaoke, and live streaming. Its main offerings include QQ Music, Kugou Music, and Kuwo Music, which allow users to discover and enjoy music in personalized ways. Additionally, the platforms provide long-form audio content and music-oriented video content.

music, investment, analysts