Tencent Music Entertainment Group (TME) Is Up 35.69% in 2020 With Lots of Room to Run

Tencent Music Entertainment Group (NYSE: TME) is 35.69% higher on its value in year-to-date trading and has touched a low of $9.22 and a high of $17.97 in the current 52-week trading range. The TME stock was last observed hovering at around $15.63 in the last trading session, with the day’s gains setting it 0.3% off its average median price target of $18.00 for the next 12 months. It is also 22.18% off the consensus price target high of $20.47 offered by 24 analysts, but current levels are -13.79% lower than the price target low of $14.00 for the same period.

Currently trading at $15.93, the stock is 3.61% and 3.64% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 7.05 million and changing 1.92% at the moment leaves the stock 23.87% off its SMA200. TME registered 23.97% gain for a year compared to 6-month gain of 26.53%. The firm has a 50-day simple moving average (SMA 50) of $15.64 and a 200-day simple moving average (SMA200) of $12.93.

The stock witnessed a 0.57% loss in the last 1 month and extending the period to 3 months gives it a 23.49%, and is 1.66% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.42% over the week and 3.56% over the month.

Tencent Music Entertainment Group (TME) has around 3610 employees, a market worth around $26.86B and $3.92B in sales. Current P/E ratio is 47.27 and Fwd P/E is 29.28. Profit margin for the company is 14.40%. Distance from 52-week low is 72.78% and -11.35% from its 52-week high. The company has generated returns on investments over the last 12 months (7.60%).

Tencent Music Entertainment Group (TME) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Tencent Music Entertainment Group (TME) is a “Buy”. 24 analysts offering their recommendations for the stock have an average rating of 1.90, where 5 rate it as a Hold and 1 think it is a “Overweight”. 18 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Tencent Music Entertainment Group is expected to release its quarterly report on 11/16/2020 and quarterly earnings per share for the current quarter are estimated at $0.1 with sales reaching $1.1B over the same period.The EPS is expected to grow by 112.30% this year, but quarterly earnings will post 17.60% year-over-year. Quarterly sales are estimated to grow 18.70% in year-over-year returns.

Tencent Music Entertainment Group (TME) Top Institutional Holders

350 institutions hold shares in Tencent Music Entertainment Group (TME), with 85.7M shares held by insiders accounting for 5.18% while institutional investors hold 39.88% of the company’s shares. The shares outstanding are 1.65B, and float is at 635.93M with Short Float at 6.71%. Institutions hold 37.81% of the Float.