Tencent Music Entertainment Group (NYSE:TME) currently has a daily average trading volume of 6.16M but it saw 5199773 shares traded on Thursday. With a market cap of 12.78B USD, stock’s current market price of $7.27 came falling about -3.07 while comparing to the previous closing price of $7.50. In past 52 weeks, the stock remained buoying in the range of price level as high as $9.29 and as low as $3.14. In the recent trading on the day, stock has struck highest price mark of $7.485 while lowest mark touched by it was $7.26.
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Taking a look at 20-day trading activity of Tencent Music Entertainment Group (TME) gives us an average price of $7.44, while its current price level is -21.74% below from 52-week high level whereas it is 131.53% above from lowest level seen by the stock during that period. Simple moving average of 50 days or SMA-50 of the stock’s closing price is $7.60 while that of 200 days or SMA-200 reads an average of $6.59. A closer look into the stock’s movement over the week reveals that its volatility is standing at 4.47% during that period while stretching the period over a month that increases to 4.76%. It is also necessary to take a look into other indicators of a stock too, to get a better idea about its price movement. And in doing so, we find stock’s 14-day relative strength index (RSI) standing at 45.78 which implies that the stock is in neutral territory.
Data by FactSet Research shows that 30 analysts have issued their ratings for the stock. 1 of them are in opinions that stock is a Sell, while 6 are advising it as an Overweight. 17 analysts suggested the investors to Buy the stock while 6 advised them to Hold. Recommendations by all of those brokerages imply a consensus rating of Overweight for the stock and that issued by Wall Street to investors is Moderate Buy.
Over the week, TME’s stock price is moving -9.13% down while it is 2.54% when we observe its performance for the past one month. Year-to-date it is -12.20% down and over the past year, the stock is showing an upside performance of 98.09%.
The latest quarterly earnings report issued by the company was for quarter ended 3/30/2023, when its quarterly earnings per share (EPS) of $0.13 beat the consensus estimate of $0.11 for the same. For TME, analysts are forecasting an EPS-growth rate of 31.00% for current year and estimate for EPS growth in next year is 7.30%. In next quarter, company is expected to be making quarterly sales of $1.09 billion as analysts are expecting the sales for current fiscal year at $4.25 billion and seeing the company making $4.56 billion in sales next year. Moreover, analysts are in estimates of $1.05 billion for current-quarter revenue.
Currently, Tencent Music Entertainment Group’s total number of outstanding shares is 1.56B with 0.00% of that held by the insiders while 48.63% of its common stock has been owned by the institutions. Company’s return on investment (ROI) stands at 5.20% and return on equity (ROE) at 8.70%. It has a price to earnings ratio (P/E ratio) of 19.39 while having a 12.32 of forward P/E ratio. Stock’s beta reads 0.78. Stock has a price to book (P/B) ratio of 1.57 while price to sale or P/S ratio amounts to 3.13. Its return on asset (ROA) is 6.30% on average.
A filing at the U.S. Securities and Exchange Commission revealed that Canada Pension Plan came shrinking its share ownership by 110.24% in the Tencent Music Entertainment Group (TME) increasing its stake to 4.20% with control over 18.92 million shares in the company. As per SEC documents, Canada Pension Plan shunned 36,084,000 of company’s common stock of worth $267.38 million as per recent closing price of the stock. Canada Pension Plan is not the only institutional holder which restructured its stake in Tencent Music Entertainment Group, as KraneShares CSI China Internet ET dumped 30,672,396 shares of worth $227.28 million to bring its holdings to a total of -0.56 million shares. In the most recent quarter, Stichting Pensioenfonds ABP came rising its stake by 5.89% in the company and now holds 8.63 million or 1.01% of the company’s stake having worth of about 63.97 million.
