Tencent Music Entertainment Group [TME] Stock trading around $7.64 per share: What’s Next?

Tencent Music Entertainment Group [NYSE: TME] stock went on a downward path that fall over -2.18% on Monday, amounting to a one-week price decrease of less than -4.02%. The company report on May 22, 2023 at 6:00 AM that Tencent Music Entertainment Group to Hold Annual General Meeting on June 30, 2023.

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 hold its annual general meeting of shareholders (the “AGM”) at 10/F, The Hong Kong Club Building, 3A Chater Road, Central, Hong Kong on Friday, June 30, 2023 at 10 a.m. (Beijing/Hong Kong time) for the purposes of considering and, if thought fit, passing the resolution as set forth in the notice of the AGM (the “AGM Notice”). The AGM Notice and the form of proxy for the AGM are available on the Company’s website at https://ir.tencentmusic.com on May 22, 2023. The Board of Directors of the Company fully supports the proposed resolution and recommends that shareholders and holders of American depositary shares (“ADSs”) vote in favor of the resolution.

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Holders of record of the Company’s ordinary shares as of the close of business on Monday, May 22, 2023 (Beijing/Hong Kong time), are entitled to receive notice of, and to attend and vote at, the AGM or any adjournment or postponement thereof. Holders of record of ADSs as of the close of business on Monday, May 22, 2023 (U.S. Eastern Time) who wish to exercise their voting rights for the underlying Class A ordinary shares must give voting instructions directly to The Bank of New York Mellon, the depositary of the ADSs, or indirectly through a bank, brokerage or other securities intermediary, as the case may be.

Over the last 12 months, TME stock rose by 88.18%. The one-year Tencent Music Entertainment Group stock forecast points to a potential upside of 22.28. The average equity rating for TME stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $13.43 billion, with 1.56 billion shares outstanding and 707.80 million shares in the current float. Compared to the average trading volume of 6.16M shares, TME stock reached a trading volume of 5702346 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 $9.83 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 2.00. 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 Average True Range (ATR) for Tencent Music Entertainment Group is set at 0.43, with the Price to Sales ratio for TME stock in the period of the last 12 months amounting to 3.29. The Price to Book ratio for the last quarter was 1.65, with the Price to Cash per share for the same quarter was set at 1.66. Price to Free Cash Flow for TME in the course of the last twelve months was 13.81 with Quick ratio for the last quarter at 2.40.

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 -4.02. With this latest performance, TME shares gained by 0.13% in over the last four-week period, additionally plugging by 28.19% over the last 6 months – not to mention a rise of 88.18% 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 50.94, with the RSI for the last a single of trading hit 50.92, and the three-weeks RSI is set at 50.46 for Tencent Music Entertainment Group [TME]. The present Moving Average for the last 50 days of trading for this stock 7.61, while it was recorded at 7.89 for the last single week of trading, and 6.54 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 +11.35 and a Gross Margin at +30.09. Tencent Music Entertainment Group’s Net Margin is presently recorded at +12.98.

Return on Total Capital for TME is now 5.71, given the latest momentum, and Return on Invested Capital for the company is 6.65. Return on Equity for this stock inclined to 7.40, with Return on Assets sitting at 5.43. 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 12.40. Additionally, TME Total Debt to Total Capital is recorded at 11.03, with Total Debt to Total Assets ending up at 8.90. Long-Term Debt to Equity for the company is recorded at 12.15, with the Long-Term Debt to Total Capital now at 10.81.

Receivables Turnover for the company is 8.62 with a Total Asset Turnover recorded at a value of 0.42.Tencent Music Entertainment Group’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.40 and a Current Ratio set at 2.40.


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 12.59%.

Tencent Music Entertainment Group [TME] Insider Position Details


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