Tencent Music Entertainment Group (NYSE:TME) Stock Price Expected to Rise, Mizuho Analyst Says

Tencent Music Entertainment Group (NYSE:TME) had its price objective raised by Mizuho from $16.00 to $17.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

Separately, Morgan Stanley raised shares of Tencent Music Entertainment Group from an “equal weight” rating to an “overweight” rating and set a $13.00 price objective on the stock in a report on Tuesday, January 21st. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $14.16.

Tencent Music Entertainment Group Trading Down 2.5 %

Shares of TME opened at $14.71 on Wednesday. The stock has a fifty day moving average price of $12.29 and a two-hundred day moving average price of $11.77. 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 company has a market cap of $25.24 billion, a price-to-earnings ratio of 27.23, a PEG ratio of 0.77 and a beta of 0.70. 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 company also recently declared an annual dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 3rd will be given a $0.18 dividend. This represents a dividend yield of 0.9%. This is an increase from Tencent Music Entertainment Group’s previous annual dividend of $0.12. The ex-dividend date of this dividend is Thursday, April 3rd. Tencent Music Entertainment Group’s dividend payout ratio (DPR) is currently 22.03%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new stake in Tencent Music Entertainment Group in the third quarter worth $64,000. Avior Wealth Management LLC increased its position 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 in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Tencent Music Entertainment Group during the 4th quarter worth $110,000. Oppenheimer Asset Management Inc. bought a new position in Tencent Music Entertainment Group during the fourth quarter worth about $114,000. Finally, PNC Financial Services Group Inc. lifted its holdings 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 worth $126,000 after acquiring an additional 1,094 shares in the last quarter. Institutional investors and hedge funds own 24.32% of the company’s stock.

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.