Tencent Music Entertainment Group ADR (TME) Stock Could Soon Reward Patient Investors

Tencent Music Entertainment Group ADR (NYSE: TME) is 7.33% higher on its value in year-to-date trading and has touched a low of $5.70 and a high of $9.82 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 $9.49 in the last trading session, with the day’s gains setting it 0.18%.

Currently trading at $9.67, the stock is 6.42% and 9.67% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.1 million and changing 1.90% at the moment leaves the stock 28.58% off its SMA200. TME registered 15.95% gain for a year compared to 6-month gain of 54.97%. The firm has a 50-day simple moving average (SMA 50) of $0.50 and a 200-day simple moving average (SMA200) of $2.43.

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The stock witnessed a 6.97% loss in the last 1 month and extending the period to 3 months gives it a 28.42%, and is 6.73% 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 3.97% over the week and 3.87% over the month.

Current P/E ratio is 22.72 and Fwd P/E is 19.01. Profit margin for the company is 16.84%. Distance from 52-week low is 69.65% and -1.53% from its 52-week high. The company has generated returns on investments over the last 12 months (8.23%).

Tencent Music Entertainment Group ADR quarterly earnings per share for the current quarter are estimated at $0.14 with sales reaching $939.53M over the same period.The EPS is expected to grow by 44.46% this year, but quarterly earnings will post -4.40% year-over-year. Quarterly sales are estimated to shrink -11.30% in year-over-year returns.

Tencent Music Entertainment Group ADR (TME) Top Institutional Holders

408 institutions hold shares in Tencent Music Entertainment Group ADR (TME), with institutional investors hold 46.40% of the company’s shares. The shares outstanding are 696.11M, and float is at 695.95M with Short Float at 2.81%. Institutions hold 46.40% of the Float.

The top institutional shareholder in the company is Canada Pension Plan Investment Board with over 37.43 million shares valued at $276.2 million. The investor’s holdings represent 4.36% of the TME Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 33.49 million shares valued at $247.18 million to account for 3.90% of the shares outstanding. The other top investors are Baillie Gifford and Company which holds 28.82 million shares representing 3.36% and valued at over $212.7 million, while Vanguard Group Inc holds 2.88% of the shares totaling 24.74 million with a market value of $182.56 million.