Sunday, February 28, 2021

Market Analysts see Tencent Music Entertainment Group [TME] gaining to $28. Time to buy?

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Tencent Music Entertainment Group [NYSE: TME] gained 0.70% or 0.19 points to close at $27.21 with a heavy trading volume of 12431673 shares. The company report on January 15, 2021 that Tencent Music Entertainment Group Announces Acquisition of Lazy Audio.

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Tencent Music Entertainment Group (“Tencent Music,” “TME,” or the “Company”) (NYSE:TME), the leading innovative online music entertainment platform in China, announced that it entered into a definitive agreement to acquire 100% equity interest of Shenzhen Lanren Online Technology Co, Ltd (“Lazy Audio”, “Lanren tingshu”), a well-established audio platform in China, for a total consideration of RMB2.7 billion, primarily payable in cash, plus certain post-acquisition equity-settled awards to Lazy Audio’s management team. The existing shareholders of Lazy Audio include China Literature Limited (“China Literature”, stock code: 00772.HK), Lazy Audio’s management team and other financial investors. The transaction is expected to close in the first half of 2021 subject to customary closing conditions.


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Founded in 2012, Lazy Audio is a comprehensive audio platform providing entertainment in the forms of audiobooks, Chinese comedy, podcasts and other radio shows to customers. It monetizes via different channels, including pay per title, subscription payment for content, and advertising. Lazy Audio has developed into a thriving community with strong user interactions and engagement, providing superior content and services to audio users across China. Lazy Audio has a highly-scalable user base, making it one of the leading audio platforms in China.

It opened the trading session at $28.00, the shares rose to $28.04 and dropped to $26.645, the range by which the price of stock traded the whole day. The daily chart for TME points out that the company has recorded 74.20% gains over the past six months. However, it is still -195.12% lower than its most recent low trading price.

If we look at the average trading volume of 11.06M shares, TME reached to a volume of 12431673 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Tencent Music Entertainment Group [TME]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TME shares is $20.86 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TME stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Oppenheimer have made an estimate for Tencent Music Entertainment Group shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on January 19, 2021. While these analysts kept the previous recommendation, Needham raised their target price from $17 to $21. The new note on the price target was released on December 23, 2020, representing the official price target for Tencent Music Entertainment Group stock. Previously, the target price had yet another raise to $17, while Needham analysts kept a Buy rating on TME stock.

The Average True Range (ATR) for Tencent Music Entertainment Group is set at 1.24, with the Price to Sales ratio for TME stock in the period of the last 12 months amounting to 10.10. The Price to Book ratio for the last quarter was 5.90, with the Price to Cash per share for the same quarter was set at 0.93.

Trading performance analysis for TME stock

Tencent Music Entertainment Group [TME] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 22.51. With this latest performance, TME shares gained by 44.12% in over the last four-week period, additionally plugging by 74.20% over the last 6 months – not to mention a rise of 112.25% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TME stock in for the last two-week period is set at 82.96, with the RSI for the last a single of trading hit 84.72, and the three-weeks RSI is set at 81.00 for Tencent Music Entertainment Group [TME]. The present Moving Average for the last 50 days of trading for this stock 19.15, while it was recorded at 26.64 for the last single week of trading, and 15.32 for the last 200 days.

Tencent Music Entertainment Group [TME]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Tencent Music Entertainment Group [TME] shares currently have an operating margin of +15.45 and a Gross Margin at +33.24. Tencent Music Entertainment Group’s Net Margin is presently recorded at +15.66.

Return on Total Capital for TME is now 9.64, given the latest momentum, and Return on Invested Capital for the company is 9.80. Return on Equity for this stock inclined to 9.81, with Return on Assets sitting at 8.20. When it comes to the capital structure of this company, Tencent Music Entertainment Group [TME] has a Total Debt to Total Equity ratio set at 0.34. Additionally, TME Total Debt to Total Capital is recorded at 0.34, with Total Debt to Total Assets ending up at 0.28. Long-Term Debt to Equity for the company is recorded at 0.18, with the Long-Term Debt to Total Capital now at 0.18.

Reflecting on the efficiency of the workforce at the company, Tencent Music Entertainment Group [TME] managed to generate an average of $159,634 per employee. Receivables Turnover for the company is 12.76 with a Total Asset Turnover recorded at a value of 0.52.Tencent Music Entertainment Group’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.50 and a Current Ratio set at 3.50.

Tencent Music Entertainment Group [TME]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Tencent Music Entertainment Group posted 0.11/share EPS, while the average EPS was predicted by analysts to be reported at 0.1/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 10.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for TME. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Tencent Music Entertainment Group go to 2.35%.

An analysis of insider ownership at Tencent Music Entertainment Group [TME]

There are presently around $12,890 million, or 73.80% of TME stock, in the hands of institutional investors. The top three institutional holders of TME stocks are: MORGAN STANLEY with ownership of 43,611,012, which is approximately 224.911% of the company’s market cap and around 9.67% of the total institutional ownership; BAILLIE GIFFORD & CO, holding 43,028,837 shares of the stock with an approximate value of $1.17 billion in TME stocks shares; and CANADA PENSION PLAN INVESTMENT BOARD, currently with $734.61 million in TME stock with ownership of nearly 0% of the company’s market capitalization.

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Positions in Tencent Music Entertainment Group stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 144 institutional holders increased their position in Tencent Music Entertainment Group [NYSE:TME] by around 138,922,959 shares. Additionally, 109 investors decreased positions by around 52,211,585 shares, while 33 investors held positions by with 282,584,258 shares. The mentioned changes placed institutional holdings at 473,718,802 shares, according to the latest SEC report filing. TME stock had 55 new institutional investments in for a total of 39,795,069 shares, while 45 institutional investors sold positions of 22,502,221 shares during the same period.

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