Tencent Music Entertainment Group ADR (NYSE: TME) is -1.76% lower on its value in year-to-date trading and has touched a low of $8.19 and a high of $15.77 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 $11.10 in the last trading session, with the day’s gains setting it 0.05%.
Currently trading at $11.15, the stock is 0.25% and -2.63% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 5.16 million and changing 0.45% at the moment leaves the stock -10.24% off its SMA200. TME registered 31.02% gain for a year compared to 6-month loss of -25.12%. The firm has a 50-day simple moving average (SMA 50) of $11.4602 and a 200-day simple moving average (SMA200) of $12.42215.
The stock witnessed a -5.27% gain in the last 1 month and extending the period to 3 months gives it a -6.14%, and is 6.70% 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 3.70% over the week and 3.12% over the month.
Tencent Music Entertainment Group ADR (TME) has around 5185 employees, a market worth around $7.80B and $3.86B in sales. Current P/E ratio is 20.90 and Fwd P/E is 16.37. Profit margin for the company is 21.53%. Distance from 52-week low is 36.14% and -29.30% from its 52-week high. The company has generated returns on investments over the last 12 months (8.68%).
with sales reaching $7.3B over the same period.The EPS is expected to grow by 36.13% this year, but quarterly earnings will post 1.88% year-over-year. Quarterly sales are estimated to grow 5.91% in year-over-year returns.
The shares outstanding are 699.71M, and float is at 693.71M with Short Float at 2.35%.
The top institutional shareholder in the company is BLACKROCK INC. with over 31.29 million shares valued at $439.57 million. The investor’s holdings represent 2.0303 of the TME Shares outstanding. As of 2024-06-30, the second largest holder is INVESCO LTD. with 26.56 million shares valued at $373.16 million to account for 1.7235 of the shares outstanding. The other top investors are VANGUARD GROUP INC which holds 25.12 million shares representing 1.6304 and valued at over $353.0 million, while BAILLIE GIFFORD & CO holds 1.4352 of the shares totaling 22.12 million with a market value of $310.73 million.
