Tencent Music Entertainment Group ADR (NYSE: TME): Hunting Genuine Value In Market Debris

Currently, there are 696.11M common shares owned by the public and among those 695.95M shares have been available to trade.

The company’s stock has a 5-day price change of 6.59% and 32.48% over the past three months. TME shares are trading 9.54% year to date (YTD), with the 12-month market performance up to 15.44% higher. It has a 12-month low price of $5.70 and touched a high of $9.82 over the same period. TME has an average intraday trading volume of 0.58 shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 8.47%, 11.61%, and 31.01% respectively.

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Institutional ownership of Tencent Music Entertainment Group ADR (NYSE: TME) shares accounts for 57.92% of the company’s 696.11M shares outstanding.

It has a market capitalization of $6.87B and a beta (3y monthly) value of 0.78. The stock’s trailing 12-month PE ratio is 23.19, while the earnings-per-share (ttm) stands at $0.43. The company has a PEG of 10.08 and a Quick Ratio of 2.46 with the debt-to-equity ratio at 0.11. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.89% over the week and 3.79% over the month.

Analysts forecast that Tencent Music Entertainment Group ADR (TME) will achieve an EPS of $0.14 for the current quarter, $0.13 for the next quarter and $0.58 for 2024. The lowest estimate earnings-per-share for the quarter is $0.13 while analysts give the company a high EPS estimate of $0.15. Comparatively, EPS for the current quarter was $0.13 a year ago. Earnings per share for the fiscal year are expected to increase by 46.04%, and 10.39% over the next financial year. EPS should shrink at an annualized rate of 2.30% over the next five years, compared to 23.20% over the past 5-year period.

Looking at the support for the TME, a number of firms have released research notes about the stock. Redburn Atlantic stated their Buy rating for the stock in a research note on February 05, 2024, with the firm’s price target at $12.

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