Tencent Music Entertainment Group ADR [NYSE: TME] closed the trading session at $7.51 on 11/06/23. The day’s price range saw the stock hit a low of $7.49, while the highest price level was $7.72. The company report on October 16, 2023 at 6:00 AM that Tencent Music Entertainment Group to Report Third Quarter 2023 Financial Results on November 14, 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 report its unaudited financial results for the third quarter of 2023 before the U.S. market opens on Tuesday, November 14, 2023.
TME’s management will host a Tencent Meeting Webinar on Tuesday, November 14, 2023, at 6:00 A.M. Eastern Time or 7:00 P.M. Beijing/Hong Kong Time on Tuesday, November 14, 2023, to review and discuss the Company’s business and financial performance.
The stocks have a year to date performance of -9.30 percent and weekly performance of 2.88 percent. The stock has been moved at 2.74 percent over the last six months. The stock has performed 17.16 percent around the most recent 30 days and changed 19.21 percent over the most recent 3-months.
If compared to the average trading volume of 7.16M shares, TME reached to a volume of 5815497 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 ADR [TME]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TME shares is $8.44 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 1.74. 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.
Citigroup have made an estimate for Tencent Music Entertainment Group ADR shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on July 31, 2023.
The Average True Range (ATR) for Tencent Music Entertainment Group ADR is set at 0.25, with the Price to Sales ratio for TME stock in the period of the last 12 months amounting to 1.25. The Price to Book ratio for the last quarter was 1.58, with the Price to Cash per share for the same quarter was set at 4.55.
TME stock trade performance evaluation
Tencent Music Entertainment Group ADR [TME] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.88. With this latest performance, TME shares gained by 17.16% in over the last four-week period, additionally plugging by 2.74% over the last 6 months – not to mention a rise of 98.15% 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 67.72, with the RSI for the last a single of trading hit 72.10, and the three-weeks RSI is set at 63.90 for Tencent Music Entertainment Group ADR [TME]. The present Moving Average for the last 50 days of trading for this stock 6.66, while it was recorded at 7.35 for the last single week of trading, and 7.31 for the last 200 days.
Tencent Music Entertainment Group ADR [TME]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Tencent Music Entertainment Group ADR [TME] shares currently have an operating margin of +11.35 and a Gross Margin at +30.09. Tencent Music Entertainment Group ADR’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 ADR [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.
Reflecting on the efficiency of the workforce at the company, Tencent Music Entertainment Group ADR [TME] managed to generate an average of $736,590 per employee. Receivables Turnover for the company is 8.32 with a Total Asset Turnover recorded at a value of 0.42.Tencent Music Entertainment Group ADR’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.50 and a Current Ratio set at 2.50.
Earnings per share (EPS) analysis for Tencent Music Entertainment Group ADR [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 ADR go to 16.54%.
Tencent Music Entertainment Group ADR [TME]: Institutional Ownership
The top three institutional holders of TME stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in TME stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in TME stock with ownership which is approximately 5.7994%.