For Tencent Music Entertainment Group [TME], Analyst sees a rise to $7. What next?

Tencent Music Entertainment Group [NYSE: TME] traded at a low on 11/18/22, posting a -6.38 loss after which it closed the day’ session at $5.58. The company report on November 15, 2022 that Tencent Music Entertainment Group Releases Golden Melodies Research Report that Explores the Music Industry’s Long-Term Value and Potential.


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Tencent Music Entertainment Group (“TME,” or the “Company”) (NYSE: TME and HKEX: 1698), the leading online music and audio entertainment platform in China, published a Golden Melodies Research Report today. Developed by TME Research Institute, it is the first report in the music industry to comprehensively describe the criteria and creation patterns of golden melodies.

The report conducted research on golden melodies from the past five years through six chapters. The chapters included definitions of golden melodies, playlists, trends, values, creation and consensus of this particular musical hits. Based on data analysis and professional interviews, the report captures the musical trends behind the changes in golden melodies and analyzes industrial experiences and challenges, which provide in-depth and valuable observations to promote the sustainable development of the industry.

The results of the trading session contributed to over 12155638 shares changing hands. Over the past one week, the price volatility of Tencent Music Entertainment Group stands at 12.11% while the volatility over the past one month is 7.99%.

The market cap for TME stock reached $10.10 billion, with 1.59 billion shares outstanding and 837.34 million shares in the current float. Compared to the average trading volume of 10.02M shares, TME reached a trading volume of 12155638 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 $6.22 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 2.30. 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.

The Benchmark Company have made an estimate for Tencent Music Entertainment Group shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 16, 2022. While these analysts kept the previous recommendation, Goldman raised their target price to Sell. The new note on the price target was released on April 11, 2022, representing the official price target for Tencent Music Entertainment Group stock. Previously, the target price had yet another drop from $7.70 to $5.70, while Goldman kept a Sell rating on TME stock.

The Average True Range (ATR) for Tencent Music Entertainment Group is set at 0.42, with the Price to Sales ratio for TME stock in the period of the last 12 months amounting to 2.53. The Price to Book ratio for the last quarter was 1.34, with the Price to Cash per share for the same quarter was set at 0.67. Price to Free Cash Flow for TME in the course of the last twelve months was 12.44 with Quick ratio for the last quarter at 2.10.

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 26.53. With this latest performance, TME shares gained by 45.69% in over the last four-week period, additionally plugging by 37.10% over the last 6 months – not to mention a drop of -26.58% 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 65.87, with the RSI for the last a single of trading hit 67.22, and the three-weeks RSI is set at 63.63 for Tencent Music Entertainment Group [TME]. The present Moving Average for the last 50 days of trading for this stock 4.23, while it was recorded at 5.41 for the last single week of trading, and 4.55 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 +8.70 and a Gross Margin at +29.35. Tencent Music Entertainment Group’s Net Margin is presently recorded at +9.69.

Return on Total Capital for TME is now 4.74, given the latest momentum, and Return on Invested Capital for the company is 5.36. Return on Equity for this stock inclined to 5.91, with Return on Assets sitting at 4.47. 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 10.81. Additionally, TME Total Debt to Total Capital is recorded at 9.76, with Total Debt to Total Assets ending up at 8.09. Long-Term Debt to Equity for the company is recorded at 10.47, with the Long-Term Debt to Total Capital now at 9.45.

Reflecting on the efficiency of the workforce at the company, Tencent Music Entertainment Group [TME] managed to generate an average of $611,898 per employee. Receivables Turnover for the company is 9.20 with a Total Asset Turnover recorded at a value of 0.46.Tencent Music Entertainment Group’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.10 and a Current Ratio set at 2.10.

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 -1.87%.

Insider trade positions for Tencent Music Entertainment Group [TME]

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 113 institutional holders increased their position in Tencent Music Entertainment Group [NYSE:TME] by around 25,415,472 shares. Additionally, 101 investors decreased positions by around 41,533,930 shares, while 40 investors held positions by with 306,552,594 shares. The mentioned changes placed institutional holdings at 373,501,996 shares, according to the latest SEC report filing. TME stock had 29 new institutional investments in for a total of 10,969,219 shares, while 23 institutional investors sold positions of 7,971,330 shares during the same period.

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