Tencent Music Entertainment Group [NYSE: TME] closed the trading session at $7.54 on 02/28/23. The day’s price range saw the stock hit a low of $7.53, while the highest price level was $7.80. The company report on February 20, 2023 that Tencent Music Entertainment Group to Report Fourth Quarter and Full Year 2022 Financial Results on March 21, 2023 Eastern Time.
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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, today announced that it will report its unaudited financial results for the fourth quarter and full year of 2022 before the U.S. market opens on Tuesday, March 21, 2023.
TME’s management will host a Tencent Meeting Webinar on Tuesday, March 21, 2023, at 7:00 A.M. Eastern Time or 7:00 P.M. Beijing/Hong Kong Time on Tuesday, March 21, 2023, to review and discuss the Company’s business and financial performance.
The stocks have a year to date performance of -8.94 percent and weekly performance of -2.96 percent. The stock has been moved at 49.01 percent over the last six months. The stock has performed -13.03 percent around the most recent 30 days and changed 30.45 percent over the most recent 3-months.
If compared to the average trading volume of 10.47M shares, TME reached to a volume of 8429633 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 $8.84 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.
JP Morgan have made an estimate for Tencent Music Entertainment Group shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on January 30, 2023. While these analysts kept the previous recommendation, Daiwa Securities raised their target price to Buy. The new note on the price target was released on January 13, 2023, representing the official price target for Tencent Music Entertainment Group stock. Previously, the target price had yet another raise to $8, while Goldman analysts kept a Neutral rating on TME stock. On December 01, 2022, analysts increased their price target for TME shares from 4.50 to 8.50.
The Average True Range (ATR) for Tencent Music Entertainment Group is set at 0.39, with the Price to Sales ratio for TME stock in the period of the last 12 months amounting to 3.16. The Price to Book ratio for the last quarter was 1.75, with the Price to Cash per share for the same quarter was set at 1.58. Price to Free Cash Flow for TME in the course of the last twelve months was 15.54 with Quick ratio for the last quarter at 2.10.
TME stock trade performance evaluation
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 -2.96. With this latest performance, TME shares dropped by -13.03% in over the last four-week period, additionally plugging by 49.01% over the last 6 months – not to mention a rise of 38.86% 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 39.07, with the RSI for the last a single of trading hit 33.49, and the three-weeks RSI is set at 43.66 for Tencent Music Entertainment Group [TME]. The present Moving Average for the last 50 days of trading for this stock 8.35, while it was recorded at 7.69 for the last single week of trading, and 5.61 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 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 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 4.38%.
Tencent Music Entertainment Group [TME]: Insider Ownership positions
Positions in Tencent Music Entertainment Group stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 118 institutional holders increased their position in Tencent Music Entertainment Group [NYSE:TME] by around 71,089,217 shares. Additionally, 122 investors decreased positions by around 42,669,235 shares, while 32 investors held positions by with 288,203,144 shares. The mentioned changes placed institutional holdings at 401,961,596 shares, according to the latest SEC report filing. TME stock had 45 new institutional investments in for a total of 18,237,104 shares, while 32 institutional investors sold positions of 6,822,442 shares during the same period.