Tencent Music Entertainment Group (TME) To Go Ex-Dividend on April 3rd

Tencent Music Entertainment Group (NYSE:TME) declared an annual dividend on Tuesday, March 18th, Wall Street Journal reports. Stockholders of record on Thursday, April 3rd will be given a dividend of 0.18 per share on Thursday, April 24th. This represents a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, April 3rd. This is a 48.8% increase from Tencent Music Entertainment Group’s previous annual dividend of $0.12.

Tencent Music Entertainment Group Stock Down 2.5 %

TME stock opened at $14.71 on Thursday. The stock has a market capitalization of $25.24 billion, a P/E ratio of 27.23, a P/E/G ratio of 0.77 and a beta of 0.70. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.34 and a quick ratio of 2.34. Tencent Music Entertainment Group has a 1-year low of $9.41 and a 1-year high of $15.77. The business has a fifty day moving average price of $12.29 and a 200-day moving average price of $11.77.

Analysts Set New Price Targets

A number of research firms recently commented on TME. Mizuho upped their price objective on Tencent Music Entertainment Group from $16.00 to $17.00 and gave the company an “outperform” rating in a research report on Wednesday. Morgan Stanley upgraded Tencent Music Entertainment Group from an “equal weight” rating to an “overweight” rating and set a $13.00 price target for the company in a research report on Tuesday, January 21st. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $14.16.

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.