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. Investors of record on Thursday, April 3rd will be paid a dividend of 0.18 per share on Thursday, April 24th. This represents a 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 has a payout ratio of 21.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Tencent Music Entertainment Group to earn $0.79 per share next year, which means the company should continue to be able to cover its $0.18 annual dividend with an expected future payout ratio of 22.8%.

Tencent Music Entertainment Group Stock Performance

NYSE TME opened at $14.41 on Tuesday. Tencent Music Entertainment Group has a 1-year low of $9.41 and a 1-year high of $15.77. The company has a 50 day moving average of $12.89 and a 200-day moving average of $12.02. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.09. The firm has a market cap of $24.72 billion, a price-to-earnings ratio of 26.68, a PEG ratio of 0.77 and a beta of 0.70.

Wall Street Analysts Forecast Growth

TME has been the topic of several research analyst reports. Mizuho increased their target price on Tencent Music Entertainment Group from $16.00 to $17.00 and gave the stock an “outperform” rating in a report on Wednesday, March 19th. Morgan Stanley restated an “overweight” rating on shares of Tencent Music Entertainment Group in a research report on Tuesday, March 18th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Tencent Music Entertainment Group from a “hold” rating to a “buy” rating in a research report on Wednesday, March 26th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.00.

Tencent Music Entertainment Group Company Profile

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.