Currently, there are 696.11M common shares owned by the public and among those 688.98M shares have been available to trade.
However, the script later moved the day high at 10.81, down -3.95%. The company’s stock has a 5-day price change of 6.00% and 27.77% over the past three months. TME shares are trading 21.53% year to date (YTD), with the 12-month market performance up to 52.51% higher. It has a 12-month low price of $5.70 and touched a high of $11.80 over the same period. TME has an average intraday trading volume of 9.20 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 4.74%, 11.74%, and 37.78% respectively.
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Institutional ownership of Tencent Music Entertainment Group ADR (NYSE: TME) shares accounts for 61.57% of the company’s 696.11M shares outstanding.
It has a market capitalization of $7.62B and a beta (3y monthly) value of 0.81. The stock’s trailing 12-month PE ratio is 24.93, while the earnings-per-share (ttm) stands at $0.44. The company has a PEG of 10.84 and a Quick Ratio of 2.49 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 5.69% over the week and 4.60% over the month.
Earnings per share for the fiscal year are expected to increase by 26.82%, and 21.08% over the next financial year. EPS should shrink at an annualized rate of 2.30% over the next five years, compared to 19.83% over the past 5-year period.
Looking at the support for the TME, a number of firms have released research notes about the stock. Goldman stated their Buy rating for the stock in a research note on March 20, 2024, with the firm’s price target at $14. Citigroup coverage for the Tencent Music Entertainment Group ADR (TME) stock in a research note released on March 20, 2024 offered a Buy rating with a price target of $13. Redburn Atlantic was of a view on February 05, 2024 that the stock is Buy, while CLSA gave the stock Outperform rating on February 05, 2024, issuing a price target of $10.50. UBS on their part issued Buy rating on January 24, 2024.
