Tencent Music Entertainment Group (NYSE: TME) is -38.25% lower on its value in year-to-date trading and has touched a low of $2.95 and a high of $9.10 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 $4.30 in the last trading session, with the day’s loss setting it -0.07% off its average median price target of $5.40 for the next 12 months. It is also 47.12% off the consensus price target high of $8.00 offered by 29 analysts, but current levels are -17.5% lower than the price target low of $3.60 for the same period.
Currently trading at $4.23, the stock is -11.94% and -7.25% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 5.27 million and changing -1.63% at the moment leaves the stock -16.03% off its SMA200. TME registered -43.15% loss for a year compared to 6-month loss of -21.23%.
The stock witnessed a -3.86% gain in the last 1 month and extending the period to 3 months gives it a -11.69%, and is -12.42% 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 5.71% over the month.
Tencent Music Entertainment Group (TME) has around 5966 employees, a market worth around $7.58B and $4.14B in sales. Current P/E ratio is 17.77 and Fwd P/E is 1.63. Profit margin for the company is 9.50%. Distance from 52-week low is 43.39% and -53.52% from its 52-week high. The company has generated returns on investments over the last 12 months (4.10%).
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”. 29 analysts offering their recommendations for the stock have an average rating of 2.20, where 13 rate it as a Hold and 4 think it is a “Overweight”. 10 of the analysts rate the stock as a “Buy”. 2 analysts have rated the stock as a Sell or Underperform.
The EPS is expected to shrink by -27.20% this year
Tencent Music Entertainment Group (TME) Top Institutional Holders
The shares outstanding are 1.61B, and float is at 790.36M with Short Float at 3.69%.