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Tencent Music Entertainment Group (TME) – Don’t Be So Quick to Call it Dead

417 institutions hold shares in Tencent Music Entertainment Group (TME), with 160.56M shares held by insiders accounting for 9.67% while institutional investors hold 81.79% of the company’s shares. The shares outstanding are 1.66B, and float is at 589.18M with Short Float at 12.69%. Institutions hold 73.88% of the Float.

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The top institutional shareholder in the company is Credit Suisse Ag/ with over 53.22 million shares valued at $1.02 billion. The investor’s holdings represent 7.94% of the TME Shares outstanding. As of Dec 30, 2020, the second largest holder is Morgan Stanley with 48.11 million shares valued at $925.68 million to account for 7.17% of the shares outstanding. The other top investors are Baillie Gifford and Company which holds 42.55 million shares representing 6.34% and valued at over $818.71 million, while Nomura Holdings Inc. holds 4.95% of the shares totaling 33.22 million with a market value of $639.22 million.

Tencent Music Entertainment Group (NYSE: TME) is 5.72% higher on its value in year-to-date trading and has touched a low of $9.29 and a high of $32.25 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The TME stock was last observed hovering at around $20.10 in the last trading session, with the day’s gains setting it 0.24% off its average median price target of $32.00 for the next 12 months. It is also 46.47% off the consensus price target high of $38.00 offered by 26 analysts, but current levels are -1.7% lower than the price target low of $20.00 for the same period.

Currently trading at $20.34, the stock is -23.79% and -22.92% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 240.22 million and changing 1.19% at the moment leaves the stock 9.75% off its SMA200. TME registered 114.78% gain for a year compared to 6-month gain of 40.28%. The firm has a 50-day simple moving average (SMA 50) of $26.56 and a 200-day simple moving average (SMA200) of $20.13.

The stock witnessed a -20.92% loss in the last 1 month and extending the period to 3 months gives it a 7.56%, and is -34.11% down 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 22.98% over the week and 9.41% over the month.

Tencent Music Entertainment Group (TME) has around 3610 employees, a market worth around $34.56B and $4.45B in sales. Current P/E ratio is 53.67 and Fwd P/E is 30.18. Profit margin for the company is 14.30%. Distance from 52-week low is 118.95% and -36.93% from its 52-week high. The company has generated returns on investments over the last 12 months (5.70%).

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 “Overweight”. 26 analysts offering their recommendations for the stock have an average rating of 2.10, where 8 rate it as a Hold and 3 think it is a “Overweight”. 15 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 05/17/2021 and quarterly earnings per share for the current quarter are estimated at $0.09 with sales reaching $1.18B over the same period.The EPS is expected to grow by 4.20% this year, but quarterly earnings will post 20.90% year-over-year. Quarterly sales are estimated to grow 30.90% in year-over-year returns.

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