Home  »  Companies   »  Tencent Music Entertainment Group (TME) up 1.09% s...

Tencent Music Entertainment Group (TME) up 1.09% since start of the year

Tencent Music Entertainment Group (NYSE: TME) is 1.09% higher on its value in year-to-date trading and has touched a low of $2.95 and a high of $9.29 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 $8.23 in the last trading session, with the day’s gains setting it 0.14% off its average median price target of $61.53 for the next 12 months. It is also 88.77% off the consensus price target high of $74.54 offered by 29 analysts, but current levels are 73.73% higher than the price target low of $31.86 for the same period.

Currently trading at $8.37, the stock is -1.34% and 16.38% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 7.1 million and changing 1.70% at the moment leaves the stock 64.50% off its SMA200. TME registered 22.73% gain for a year compared to 6-month gain of 79.23%.

5 Undervalued Stocks For 2023

Approximately 544 miles north of Las Vegas lies what's been dubbed "the biggest lithium deposit in the US." One tiny company stands to be the biggest beneficiary because lithium "faces a long-term supply shortage," according to Barron's. This company, however, is sitting on a goldmine opportunity as it plans to produce 30,000 tonnes per annum over the next 3.5 years from this single deposit. Supplying the electric vehicle boom and potentially driving its stock price off the charts. But this is just one of the opportunities we have researched in our free report. The other four companies have just as much potential.

Click here to download your Free Copy…

Sponsored

The stock witnessed a 2.45% loss in the last 1 month and extending the period to 3 months gives it a 119.69%, and is -2.11% 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 4.72% over the week and 4.96% over the month.

Tencent Music Entertainment Group (TME) has around 5966 employees, a market worth around $13.95B and $4.21B in sales. Current P/E ratio is 30.11 and Fwd P/E is 17.81. Profit margin for the company is 10.70%. Distance from 52-week low is 183.73% and -9.90% 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 8 rate it as a Hold and 5 think it is a “Overweight”. 14 of the analysts rate the stock as a “Buy”. 2 analysts have rated the stock as a Sell or Underperform.

Tencent Music Entertainment Group is expected to release its quarterly report on 05/15/2023.The EPS is expected to shrink by -27.20% this year.

Tencent Music Entertainment Group (TME) Top Institutional Holders

The shares outstanding are 1.59B, and float is at 837.51M with Short Float at 3.14%.

Most Popular

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Related Posts