For Tencent Music Entertainment Group [TME], Analyst sees a rise to $5.60. What next?

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Tencent Music Entertainment Group [NYSE: TME] stock went on an upward path that rose over 0.25% on Friday, amounting to a one-week price decrease of less than -0.73%. The company report on May 20, 2022 that Tencent Music Entertainment Announces First Digital Commemorative Trophy in China’s Music Industry.


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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 the recipients of the first digital commemorative trophy in China’s music industry.

To be announced on a quarterly basis, the digital commemorative trophy aims to honor individuals and groups who contribute to promoting industry progress and creating social value through music. TME created the trophy to show gratitude to music creators, professionals and music lovers, encouraging people to continue to create valuable content and initiatives for the whole industry.

Over the last 12 months, TME stock dropped by -73.10%. The one-year Tencent Music Entertainment Group stock forecast points to a potential upside of 36.21. The average equity rating for TME stock is currently 2.20, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $6.88 billion, with 1.64 billion shares outstanding and 787.83 million shares in the current float. Compared to the average trading volume of 20.44M shares, TME stock reached a trading volume of 17920097 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 $6.38 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 1.54. 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 0.84. Price to Free Cash Flow for TME in the course of the last twelve months was 7.89 with Quick ratio for the last quarter at 2.30.

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 -0.73. With this latest performance, TME shares dropped by -2.16% in over the last four-week period, additionally sinking by -46.45% over the last 6 months – not to mention a drop of -73.10% 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 44.82, with the RSI for the last a single of trading hit 46.67, and the three-weeks RSI is set at 44.32 for Tencent Music Entertainment Group [TME]. The present Moving Average for the last 50 days of trading for this stock 4.47, while it was recorded at 4.09 for the last single week of trading, and 6.52 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 +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 2.30 and a Current Ratio set at 2.30.

TME Stock EPS

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 Position Details

There are presently around $1,718 million, or 52.80% 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 5.61% of the total institutional ownership; CANADA PENSION PLAN INVESTMENT BOARD, holding 36,083,557 shares of the stock with an approximate value of $146.86 million in TME stocks shares; and BLACKROCK INC., currently with $121.4 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 109 institutional holders increased their position in Tencent Music Entertainment Group [NYSE:TME] by around 46,182,223 shares. Additionally, 113 investors decreased positions by around 58,126,903 shares, while 49 investors held positions by with 317,891,469 shares. The mentioned changes placed institutional holdings at 422,200,595 shares, according to the latest SEC report filing. TME stock had 23 new institutional investments in for a total of 7,896,110 shares, while 43 institutional investors sold positions of 21,125,309 shares during the same period.

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