Tencent Music Entertainment Group (NYSE: TME) is -11.69% lower on its value in year-to-date trading and has touched a low of $10.30 and a high of $32.25 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The TME stock was last observed hovering at around $17.83 in the last trading session, with the day’s loss setting it -0.84% off its average median price target of $29.00 for the next 12 months. It is also 55.29% off the consensus price target high of $38.00 offered by 25 analysts, but current levels are 15.05% higher than the price target low of $20.00 for the same period.
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Currently trading at $16.99, the stock is -17.95% and -30.18% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 33.76 million and changing -4.71% at the moment leaves the stock -10.53% off its SMA200. TME registered 51.83% gain for a year compared to 6-month gain of 19.23%. The firm has a 50-day simple moving average (SMA 50) of $25.86 and a 200-day simple moving average (SMA200) of $20.31.
The stock witnessed a -44.15% loss in the last 1 month and extending the period to 3 months gives it a -36.77%, and is -6.75% 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 4.60% over the week and 9.86% over the month.
Tencent Music Entertainment Group (TME) has around 4769 employees, a market worth around $28.68B and $4.47B in sales. Current P/E ratio is 44.83 and Fwd P/E is 25.06. Profit margin for the company is 14.30%. Distance from 52-week low is 64.95% and -47.31% 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”. 25 analysts offering their recommendations for the stock have an average rating of 2.00, where 7 rate it as a Hold and 2 think it is a “Overweight”. 16 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 08/16/2021 and quarterly earnings per share for the current quarter are estimated at $0.08 with sales reaching $1.19B over the same period.The EPS is expected to grow by 3.90% this year, but quarterly earnings will post 20.20% year-over-year. Quarterly sales are estimated to grow 31.70% in year-over-year returns.
Tencent Music Entertainment Group (TME) Top Institutional Holders
457 institutions hold shares in Tencent Music Entertainment Group (TME), with 165.18M shares held by insiders accounting for 9.76% while institutional investors hold 78.86% of the company’s shares. The shares outstanding are 1.66B, and float is at 589.18M with Short Float at 6.33%. Institutions hold 71.16% of the Float.
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 6.37% 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 5.76% of the shares outstanding. The other top investors are Baillie Gifford and Company which holds 42.55 million shares representing 5.10% and valued at over $818.71 million, while Nomura Holdings Inc. holds 3.98% of the shares totaling 33.22 million with a market value of $639.22 million.