Tencent Music Entertainment Group (TME) To Go Ex-Dividend on May 31st

Tencent Music Entertainment Group (NYSE:TMEGet Free Report) declared an annual dividend on Monday, May 13th, Zacks reports. Investors of record on Friday, May 31st will be paid a dividend of 0.121 per share on Thursday, June 27th. This represents a yield of 0.78%. The ex-dividend date is Friday, May 31st.

Tencent Music Entertainment Group has a payout ratio of 20.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Tencent Music Entertainment Group to earn $0.80 per share next year, which means the company should continue to be able to cover its $0.14 annual dividend with an expected future payout ratio of 17.5%.

Tencent Music Entertainment Group Stock Performance

Shares of TME stock traded down $0.15 on Wednesday, hitting $14.74. The company had a trading volume of 1,283,126 shares, compared to its average volume of 8,403,570. The firm has a market cap of $25.30 billion, a P/E ratio of 31.96, a price-to-earnings-growth ratio of 1.11 and a beta of 0.77. The company has a 50-day moving average price of $12.70 and a 200-day moving average price of $10.43. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 0.09. Tencent Music Entertainment Group has a twelve month low of $5.70 and a twelve month high of $15.77.

Tencent Music Entertainment Group (NYSE:TMEGet Free Report) last released its quarterly earnings results on Tuesday, March 19th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. The company had revenue of $971.00 million during the quarter, compared to analysts’ expectations of $925.06 million. Tencent Music Entertainment Group had a return on equity of 9.85% and a net margin of 18.88%. As a group, equities research analysts predict that Tencent Music Entertainment Group will post 0.62 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. CLSA assumed coverage on Tencent Music Entertainment Group in a report on Monday, February 5th. They set an “outperform” rating and a $10.50 target price for the company. Benchmark increased their target price on Tencent Music Entertainment Group from $14.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. HSBC increased their target price on Tencent Music Entertainment Group from $9.50 to $10.40 and gave the company a “hold” rating in a report on Wednesday, March 20th. Bank of America increased their target price on Tencent Music Entertainment Group from $10.50 to $12.30 and gave the company a “buy” rating in a report on Wednesday, March 20th. Finally, Mizuho increased their target price on Tencent Music Entertainment Group from $13.00 to $15.00 and gave the company a “buy” rating in a report on Friday, May 10th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.75.

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Tencent Music Entertainment Group Company Profile

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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.

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