Tencent Music Entertainment Group [TME] Stock trading around $18.03 per share: What’s Next?

Tencent Music Entertainment Group [NYSE: TME] stock went on a downward path that fall over -6.19% on Monday, amounting to a one-week price decrease of less than -5.25%. The company report on April 9, 2021 that Tencent Music Entertainment Group Filed 2020 Annual Report on Form 20-F.

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Tencent Music Entertainment Group (“Tencent Music,” “TME,” or the “Company”) (NYSE:TME), the leading online music entertainment platform in China, announced that it has filed its annual report on Form 20-F that includes its audited financial statements for the fiscal year ended December 31, 2020 with the Securities and Exchange Commission (the “SEC”) on April 9, 2021, U. S. Eastern Time.

The annual report can be accessed on Tencent Music’s investor relations website at ir.tencentmusic.com and on the SEC’s website at www.sec.gov. The Company will also provide a hard copy of the annual report containing its audited consolidated financial statements, free of charge, to its shareholders and American Depositary Share holders upon request.

Over the last 12 months, TME stock rose by 64.36%. The one-year Tencent Music Entertainment Group stock forecast points to a potential upside of 39.35. The average equity rating for TME stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $30.29 billion, with 1.66 billion shares outstanding and 589.18 million shares in the current float. Compared to the average trading volume of 33.41M shares, TME stock reached a trading volume of 47473845 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $29.73 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.

Goldman have made an estimate for Tencent Music Entertainment Group shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on March 24, 2021. While these analysts kept the previous recommendation, China Renaissance raised their target price from $18 to $29. The new note on the price target was released on March 23, 2021, representing the official price target for Tencent Music Entertainment Group stock. On January 19, 2021, analysts increased their price target for TME shares from 20 to 28.

The Average True Range (ATR) for Tencent Music Entertainment Group is set at 1.94, with the Price to Sales ratio for TME stock in the period of the last 12 months amounting to 6.81. The Price to Book ratio for the last quarter was 3.76, with the Price to Cash per share for the same quarter was set at 1.01. Price to Free Cash Flow for TME in the course of the last twelve months was 40.62 with Quick ratio for the last quarter at 3.30.

TME Stock Performance Analysis:

Tencent Music Entertainment Group [TME] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.25. With this latest performance, TME shares dropped by -35.10% in over the last four-week period, additionally plugging by 26.17% over the last 6 months – not to mention a rise of 64.36% 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 32.09, with the RSI for the last a single of trading hit 27.64, and the three-weeks RSI is set at 35.71 for Tencent Music Entertainment Group [TME]. The present Moving Average for the last 50 days of trading for this stock 25.18, while it was recorded at 19.26 for the last single week of trading, and 18.87 for the last 200 days.

Insight into Tencent Music Entertainment Group Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Tencent Music Entertainment Group [TME] shares currently have an operating margin of +12.78 and a Gross Margin at +33.25. Tencent Music Entertainment Group’s Net Margin is presently recorded at +14.25.

Return on Total Capital for TME is now 7.11, given the latest momentum, and Return on Invested Capital for the company is 7.98. Return on Equity for this stock inclined to 8.45, with Return on Assets sitting at 6.69. 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 10.52. Additionally, TME Total Debt to Total Capital is recorded at 9.52, with Total Debt to Total Assets ending up at 8.05. Long-Term Debt to Equity for the company is recorded at 10.32, with the Long-Term Debt to Total Capital now at 9.34.

Receivables Turnover for the company is 10.93 with a Total Asset Turnover recorded at a value of 0.47.Tencent Music Entertainment Group’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.30 and a Current Ratio set at 3.30.

TME Stock EPS

With the latest financial reports released by the company, Tencent Music Entertainment Group posted 0.09/share EPS, while the average EPS was predicted by analysts to be reported at 0.09/share. 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 2.31%.

Tencent Music Entertainment Group [TME] Insider Position Details

There are presently around $10,213 million, or 88.30% of TME stock, in the hands of institutional investors. The top three institutional holders of TME stocks are: CREDIT SUISSE AG/ with ownership of 53,218,044, which is approximately 290.018% of the company’s market cap and around 12.15% of the total institutional ownership; MORGAN STANLEY, holding 48,112,265 shares of the stock with an approximate value of $867.46 million in TME stocks shares; and BAILLIE GIFFORD & CO, currently with $767.22 million in TME stock with ownership of nearly -1.107% 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 May and at the time of the May reporting period, where 147 institutional holders increased their position in Tencent Music Entertainment Group [NYSE:TME] by around 139,809,695 shares. Additionally, 116 investors decreased positions by around 47,118,305 shares, while 36 investors held positions by with 379,527,310 shares. The mentioned changes placed institutional holdings at 566,455,310 shares, according to the latest SEC report filing. TME stock had 61 new institutional investments in for a total of 16,096,712 shares, while 39 institutional investors sold positions of 14,742,185 shares during the same period.

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