Tencent Music Entertainment Group (NYSE:TME) Hits New 1-Year Low – Time to Sell?

Tencent Music Entertainment Group Sponsored ADR (NYSE:TME)’s stock price hit a new 52-week low during trading on Wednesday . The stock traded as low as $7.93 and last traded at $7.9050, with a volume of 393483 shares traded. The stock had previously closed at $8.06.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Nomura set a $10.00 price objective on shares of Tencent Music Entertainment Group and gave the company a “neutral” rating in a research note on Thursday, August 13th. Zacks Research upgraded Tencent Music Entertainment Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 19th. China Renaissance cut Tencent Music Entertainment Group from a “buy” rating to a “hold” rating and set a $9.30 target price for the company. in a research report on Wednesday, August 12th. Mizuho cut their price target on Tencent Music Entertainment Group from $18.00 to $15.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 12th. Finally, Weiss Ratings upgraded shares of Tencent Music Entertainment Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, July 1st. Three investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, Tencent Music Entertainment Group presently has an average rating of “Hold” and an average target price of $17.21.

Tencent Music Entertainment Group Stock Up 0.1%

The company has a market capitalization of $12.43 billion, a price-to-earnings ratio of 9.75, a price-to-earnings-growth ratio of 1.38 and a beta of 0.85. The firm’s 50-day simple moving average is $8.86 and its two-hundred day simple moving average is $9.66. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.74 and a quick ratio of 1.74.

Tencent Music Entertainment Group (NYSE:TME) last announced its quarterly earnings results on Tuesday, June 30th. The company reported $0.25 earnings per share (EPS) for the quarter. The company had revenue of $1.31 billion for the quarter. Tencent Music Entertainment Group had a net margin of 26.27% and a return on equity of 11.53%. Sell-side analysts predict that Tencent Music Entertainment Group Sponsored ADR will post 0.87 EPS for the current fiscal year.

Institutional Investors Weigh In On Tencent Music Entertainment Group

A number of institutional investors have recently bought and sold shares of the stock. Allworth Financial LP raised its position in Tencent Music Entertainment Group by 63.2% during the third quarter. Allworth Financial LP now owns 1,480 shares of the company’s stock valued at $35,000 after acquiring an additional 573 shares in the last quarter. O Shaughnessy Asset Management LLC increased its stake in shares of Tencent Music Entertainment Group by 0.5% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 132,635 shares of the company’s stock worth $2,325,000 after purchasing an additional 610 shares during the period. Vise Technologies Inc. lifted its holdings in shares of Tencent Music Entertainment Group by 5.0% during the fourth quarter. Vise Technologies Inc. now owns 14,648 shares of the company’s stock worth $257,000 after buying an additional 692 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in Tencent Music Entertainment Group by 61.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,123 shares of the company’s stock valued at $37,000 after purchasing an additional 807 shares during the period. Finally, Cerity Partners LLC grew its position in Tencent Music Entertainment Group by 1.8% during the fourth quarter. Cerity Partners LLC now owns 52,583 shares of the company’s stock worth $922,000 after buying an additional 929 shares in the last quarter. 24.32% of the stock is currently owned by hedge funds and other institutional investors.

Tencent Music Entertainment Group Company Profile

Tencent Music Entertainment Group is a China-based online music and audio entertainment company. It operates digital music platforms including QQ Music, Kugou Music and Kuwo Music, which provide users with licensed songs, albums, music videos, playlists, podcasts and other audio content. The company also operates WeSing, a social karaoke service that allows users to sing, record and share performances.

The company generates revenue through music subscriptions, digital advertising, content sales, and social entertainment services such as virtual gifts, live streaming and karaoke-related offerings.