Tencent Music Entertainment Group [NYSE: TME] surged by $0.05 during the normal trading session on Monday and reaching a high of $4.305 during the day while it closed the day at $4.15. The company report on May 16, 2022 that Tencent Music Entertainment Group Announces First Quarter 2022 Unaudited Financial Results.
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Tencent Music Entertainment Group (“TME,” or the “Company”) (NYSE: TME), the leading online music and audio entertainment platform in China, today announced its unaudited financial results for the first quarter ended March 31, 2022.
Tencent Music Entertainment Group stock has also gained 9.21% of its value over the past 7 days. However, TME stock has declined by -29.66% in the 3 months of the year. Over the past six months meanwhile, it has lost -53.11% and lost -39.42% year-on date.
The market cap for TME stock reached $6.61 billion, with 1.64 billion shares outstanding and 787.83 million shares in the current float. Compared to the average trading volume of 19.50M shares, TME reached a trading volume of 12272394 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to 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 $6.88 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.
Goldman have made an estimate for Tencent Music Entertainment Group shares, keeping their opinion on the stock as Sell, with their previous recommendation back on April 11, 2022. While these analysts kept the previous recommendation, Goldman dropped their target price from $7.70 to $5.70. The new note on the price target was released on February 18, 2022, representing the official price target for Tencent Music Entertainment Group stock. Previously, the target price had yet another raise to $7.30, while China Renaissance analysts kept a Hold rating on TME stock.
The Average True Range (ATR) for Tencent Music Entertainment Group is set at 0.32, with the Price to Sales ratio for TME stock in the period of the last 12 months amounting to 1.44. The Price to Book ratio for the last quarter was 0.92, with the Price to Cash per share for the same quarter was set at 0.71. Price to Free Cash Flow for TME in the course of the last twelve months was 8.56 with Quick ratio for the last quarter at 2.60.
TME stock trade performance evaluation
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 9.21. With this latest performance, TME shares dropped by -15.48% in over the last four-week period, additionally sinking by -53.11% over the last 6 months – not to mention a drop of -72.88% 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 46.52, with the RSI for the last a single of trading hit 49.83, and the three-weeks RSI is set at 45.37 for Tencent Music Entertainment Group [TME]. The present Moving Average for the last 50 days of trading for this stock 4.48, while it was recorded at 3.94 for the last single week of trading, and 6.65 for the last 200 days.
Tencent Music Entertainment Group [TME]: An insightful look at the core 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 +8.70 and a Gross Margin at +29.35. Tencent Music Entertainment Group’s Net Margin is presently recorded at +9.69.
Return on Equity for this stock inclined to 5.91, with Return on Assets sitting at 4.47.
Tencent Music Entertainment Group’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.60 and a Current Ratio set at 2.60.
Earnings per share (EPS) analysis for Tencent Music Entertainment Group [TME] stock
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 -6.06%.
Tencent Music Entertainment Group [TME]: Insider Ownership positions
There are presently around $1,743 million, or 53.50% of TME stock, in the hands of institutional investors. The top three institutional holders of TME stocks are: BAILLIE GIFFORD & CO with ownership of 50,090,578, which is approximately -2.706% of the company’s market cap and around 5.63% of the total institutional ownership; CANADA PENSION PLAN INVESTMENT BOARD, holding 36,083,557 shares of the stock with an approximate value of $147.94 million in TME stocks shares; and BLACKROCK INC., currently with $122.29 million in TME stock with ownership of nearly 6.156% of the company’s market capitalization.
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 112 institutional holders increased their position in Tencent Music Entertainment Group [NYSE:TME] by around 48,102,599 shares. Additionally, 110 investors decreased positions by around 55,373,212 shares, while 49 investors held positions by with 321,605,163 shares. The mentioned changes placed institutional holdings at 425,080,974 shares, according to the latest SEC report filing. TME stock had 24 new institutional investments in for a total of 7,994,935 shares, while 43 institutional investors sold positions of 21,302,242 shares during the same period.