Tencent Music Entertainment Group has received a consensus recommendation of “Hold”

Tencent Music Entertainment Group (NYSE:TME – Get Rating) has received a consensus recommendation of “Hold” from the fourteen ratings firms that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $9.05.

TME has been the subject of several recent research reports. The Goldman Sachs Group initiated coverage on Tencent Music Entertainment Group in a report on Sunday, April 10th. They issued a “sell” rating and a $5.60 price target for the company. JPMorgan Chase & Co. lowered their price target on Tencent Music Entertainment Group from $6.00 to $3.50 in a report on Monday, March 14th. Finally, HSBC lowered their price target on Tencent Music Entertainment Group from $5.10 to $3.90 in a report on Tuesday, May 17th.

Shares of TME opened at $5.24 on Tuesday. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $8.79 billion, a P/E ratio of 20.15, a price-to-earnings-growth ratio of 1.69 and a beta of 0.85. The stock’s fifty day simple moving average is $4.34 and its 200 day simple moving average is $5.13. Tencent Music Entertainment Group has a twelve month low of $2.95 and a twelve month high of $15.50.

Tencent Music Entertainment Group (NYSE:TME – Get Rating) last issued its earnings results on Monday, May 16th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.48. The business had revenue of $6.64 billion for the quarter, compared to analyst estimates of $6.65 billion. Tencent Music Entertainment Group had a return on equity of 6.21% and a net margin of 9.01%. The business’s quarterly revenue was down 15.1% on a year-over-year basis. During the same period last year, the company posted $0.09 EPS. Sell-side analysts predict that Tencent Music Entertainment Group will post 0.23 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the company. Lindbrook Capital LLC grew its stake in shares of Tencent Music Entertainment Group by 294.8% during the fourth quarter. Lindbrook Capital LLC now owns 8,251 shares of the company’s stock valued at $57,000 after acquiring an additional 6,161 shares in the last quarter. Bank of America Corp DE grew its stake in Tencent Music Entertainment Group by 2.7% in the fourth quarter. Bank of America Corp DE now owns 1,150,454 shares of the company’s stock worth $7,881,000 after purchasing an additional 30,133 shares in the last quarter. CALIFORNIA FIRST LEASING Corp acquired a new position in Tencent Music Entertainment Group in the fourth quarter worth about $201,000. Dimensional Fund Advisors LP grew its stake in Tencent Music Entertainment Group by 21.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,502,558 shares of the company’s stock worth $51,393,000 after purchasing an additional 1,311,598 shares in the last quarter. Finally, Krane Funds Advisors LLC grew its stake in Tencent Music Entertainment Group by 12.3% in the fourth quarter. Krane Funds Advisors LLC now owns 14,534,883 shares of the company’s stock worth $99,564,000 after purchasing an additional 1,589,420 shares in the last quarter.