Reassessing The Changing Outlook For Tencent Music Entertainment Group ADR (TME)

Currently, there are 721.20M common shares owned by the public and among those 713.82M shares have been available to trade.

The company’s stock has a 5-day price change of 1.17% and 25.19% over the past three months. TME shares are trading 25.19% year to date (YTD), with the 12-month market performance up to 33.02% 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 9.22 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 5.69%, 12.31%, and 40.16% respectively.

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Institutional ownership of Tencent Music Entertainment Group ADR (NYSE: TME) shares accounts for 59.23% of the company’s 721.20M shares outstanding.

It has a market capitalization of $8.14B and a beta (3y monthly) value of 0.82. The stock’s trailing 12-month PE ratio is 25.68, while the earnings-per-share (ttm) stands at $0.44. The company has a PEG of 1.72 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 3.03% over the week and 4.51% over the month.

Analysts forecast that Tencent Music Entertainment Group ADR (TME) will achieve an EPS of $0.14 for the current quarter, $0.16 for the next quarter and $0.74 for 2025. The lowest estimate earnings-per-share for the quarter is $0.13 while analysts give the company a high EPS estimate of $0.16. Comparatively, EPS for the current quarter was $0.12 a year ago. Earnings per share for the fiscal year are expected to increase by 25.20%, and 20.50% over the next financial year. EPS should shrink at an annualized rate of 14.89% 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.

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