Tencent Music Entertainment Group [NYSE: TME] jumped around 0.09 points on Tuesday, while shares priced at $7.75 at the close of the session, up 1.17%. The company report on August 17, 2021 that Tencent Music Entertainment Group Announces Second Quarter 2021 Unaudited Financial Results.
Tencent Music Entertainment Group (“Tencent Music,” “TME,” or the “Company”) (NYSE: TME), the leading online music and audio entertainment platform in China, announced its unaudited financial results for the second quarter ended June 30, 2021.
Financial and Operational Highlights.
Tencent Music Entertainment Group stock is now -59.72% down from its year-to-date (YTD) trading value. TME Stock saw the intraday high of $7.87 and lowest of $7.5173 per share. The company’s 52-week high price is 32.25, which means current price is +13.64% above from all time high which was touched on 03/23/21.
Compared to the average trading volume of 17.80M shares, TME reached a trading volume of 9318954 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say 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 $12.83 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 2.20. 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.
Loop Capital have made an estimate for Tencent Music Entertainment Group shares, keeping their opinion on the stock as Hold, with their previous recommendation back on September 13, 2021. The new note on the price target was released on August 18, 2021, representing the official price target for Tencent Music Entertainment Group stock. Previously, the target price had yet another drop from $11.30 to $5.10, while Macquarie kept a Underperform rating on TME stock.
The Average True Range (ATR) for Tencent Music Entertainment Group is set at 0.37, with the Price to Sales ratio for TME stock in the period of the last 12 months amounting to 2.57. The Price to Book ratio for the last quarter was 1.61, with the Price to Cash per share for the same quarter was set at 0.87. Price to Free Cash Flow for TME in the course of the last twelve months was 15.70 with Quick ratio for the last quarter at 2.90.
How has TME stock performed recently?
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 9.00. With this latest performance, TME shares dropped by -6.06% in over the last four-week period, additionally sinking by -57.30% over the last 6 months – not to mention a drop of -45.84% 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 49.51, with the RSI for the last a single of trading hit 58.52, and the three-weeks RSI is set at 44.15 for Tencent Music Entertainment Group [TME]. The present Moving Average for the last 50 days of trading for this stock 8.40, while it was recorded at 7.52 for the last single week of trading, and 16.76 for the last 200 days.
Tencent Music Entertainment Group [TME]: Deeper insight into the 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 +31.12. 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.
Reflecting on the efficiency of the workforce at the company, Tencent Music Entertainment Group [TME] managed to generate an average of $126,228 per employee. Receivables Turnover for the company is 10.54 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 2.90 and a Current Ratio set at 2.90.
Earnings analysis for Tencent Music Entertainment Group [TME]
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 0.77%.
Insider trade positions for Tencent Music Entertainment Group [TME]
There are presently around $3,667 million, or 59.70% of TME stock, in the hands of institutional investors. The top three institutional holders of TME stocks are: BAILLIE GIFFORD & CO with ownership of 45,577,209, which is approximately -0.989% of the company’s market cap and around 9.76% of the total institutional ownership; INVESCO LTD., holding 34,504,896 shares of the stock with an approximate value of $267.41 million in TME stocks shares; and BLACKROCK INC., currently with $219.13 million in TME stock with ownership of nearly 18.797% of the company’s market capitalization.
Positions in Tencent Music Entertainment Group stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 185 institutional holders increased their position in Tencent Music Entertainment Group [NYSE:TME] by around 102,653,562 shares. Additionally, 187 investors decreased positions by around 157,184,549 shares, while 36 investors held positions by with 213,290,364 shares. The mentioned changes placed institutional holdings at 473,128,475 shares, according to the latest SEC report filing. TME stock had 42 new institutional investments in for a total of 5,473,950 shares, while 108 institutional investors sold positions of 45,224,984 shares during the same period.