Tencent Music Entertainment Group [NYSE: TME] gained 2.26% on the last trading session, reaching $4.53 price per share at the time. The company report on June 19, 2022 that Tencent Music Entertainment Group Renews Strategic Partnership with Time Fengjun Entertainment.
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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 renewal of its strategic partnership with Time Fengjun Entertainment (“TF Entertainment”) to support young Chinese musicians and create a more dynamic one-stop music entertainment experience for their users.
Beyond the extension of cooperation, the renewed partnership enables TME users to have instant access to music from TF Entertainment’s artists 30-days before all other audio streaming platforms in China.
Tencent Music Entertainment Group represents 1.64 billion in outstanding shares, while the company has a total market value of $7.51 billion with the latest information. TME stock price has been found in the range of $4.4125 to $4.60.
If compared to the average trading volume of 18.59M shares, TME reached a trading volume of 20414695 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 $5.57 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 0.28, with the Price to Sales ratio for TME stock in the period of the last 12 months amounting to 1.67. The Price to Book ratio for the last quarter was 1.03, with the Price to Cash per share for the same quarter was set at 0.85. Price to Free Cash Flow for TME in the course of the last twelve months was 8.60 with Quick ratio for the last quarter at 2.30.
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 3.19. With this latest performance, TME shares gained by 11.58% in over the last four-week period, additionally sinking by -27.98% over the last 6 months – not to mention a drop of -69.98% 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 56.26, with the RSI for the last a single of trading hit 58.72, and the three-weeks RSI is set at 53.59 for Tencent Music Entertainment Group [TME]. The present Moving Average for the last 50 days of trading for this stock 4.28, while it was recorded at 4.45 for the last single week of trading, and 6.07 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 +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.
Tencent Music Entertainment Group [TME]: An earnings per share (EPS) analysis
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%.
An analysis of insider ownership at Tencent Music Entertainment Group [TME]
There are presently around $1,918 million, or 53.30% 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 $163.46 million in TME stocks shares; and BLACKROCK INC., currently with $135.12 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 107 institutional holders increased their position in Tencent Music Entertainment Group [NYSE:TME] by around 47,218,732 shares. Additionally, 117 investors decreased positions by around 58,257,753 shares, while 49 investors held positions by with 317,904,814 shares. The mentioned changes placed institutional holdings at 423,381,299 shares, according to the latest SEC report filing. TME stock had 20 new institutional investments in for a total of 7,894,101 shares, while 47 institutional investors sold positions of 21,298,809 shares during the same period.