Tencent Music Entertainment Group ADR [NYSE: TME] stock went on an upward path that rose over 2.21% on Monday, amounting to a one-week price increase of more than 1.87%. The company report on January 25, 2024 at 9:00 PM that TME Chart 2023 Year-End Charts Officially Unveiled, Featuring Notable Artists including Joker Xue, Zhou Shen and Tia Ray.
TME Chart, one of the brand of Tencent Music Entertainment Group, officially released the TME Chart 2023 Year-End Charts on January 23rd, featuring three main categories: General Chart, Uni Chart, and Wave Chart. A major overhaul characterized the 2023 Year-End Charts, sponsored by JD Supermarket, to present the TME Chart Year-End Chart special series. Singers such as Chen Zhuoxuan, Susan Huang and Mika were invited to receive the awards in person and gave exciting performances. This marks a novel approach to unveiling the 2023 annual overview of the Chinese music industry.
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In the chapter of this year’s TME Chart, tracks like Zhou Shen’s ‘Huakaiwangyou’, Susan Huang & Curley Gao’s ‘Shi mama shi nver’, Zhang Bichen’s ‘Long’, Yisa Yu’s ‘Meet Yourself’, Dao Lang’s ‘Luocha Haishi’, and others secured positions in the Uni Chart Annual Top 10. Dao Lang’s ‘Luocha Haishi ‘, Zhang Bichen’s ‘Long’, Li Ronghao’s ‘The Dark Plum Sauce’, and Jay Chou’s ‘Christmas Star’ earned spots in the Uni Chart 2023 Year-End High-Scoring Songs Top 10. Zhou Shen’s ‘Huakaiwangyou’, and Yisa Yu’s ‘Meet Yourself’ maintained a presence on the chart for all 52 weeks, emerging as the longest-running songs on the Uni Chart 2023.
Over the last 12 months, TME stock rose by 4.16%. The one-year Tencent Music Entertainment Group ADR stock forecast points to a potential upside of 6.93. The average equity rating for TME stock is currently 1.50, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $6.45 billion, with 696.11 million shares outstanding and 695.95 million shares in the current float. Compared to the average trading volume of 9.13M shares, TME stock reached a trading volume of 7723528 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 ADR [TME]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TME shares is $9.95 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 1.50. 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.
Redburn Atlantic have made an estimate for Tencent Music Entertainment Group ADR shares, keeping their opinion on the stock as Buy, with their previous recommendation back on Feb-06-24.
The Average True Range (ATR) for Tencent Music Entertainment Group ADR is set at 0.37, with the Price to Sales ratio for TME stock in the period of the last 12 months amounting to 1.61. The Price to Book ratio for the last quarter was 1.95, with the Price to Cash per share for the same quarter was set at 4.37.
TME Stock Performance Analysis:
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 1.87. With this latest performance, TME shares gained by 2.55% in over the last four-week period, additionally plugging by 43.79% over the last 6 months – not to mention a rise of 4.16% 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 57.65, with the RSI for the last a single of trading hit 58.91, and the three-weeks RSI is set at 57.33 for Tencent Music Entertainment Group ADR [TME]. The present Moving Average for the last 50 days of trading for this stock 8.75, while it was recorded at 9.21 for the last single week of trading, and 7.49 for the last 200 days.
Insight into Tencent Music Entertainment Group ADR Fundamentals:
Tencent Music Entertainment Group ADR’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.46 and a Current Ratio set at 2.46.
TME Stock EPS
With the latest financial reports released by the company, Tencent Music Entertainment Group ADR posted 0.13/share EPS, while the average EPS was predicted by analysts to be reported at 0.13/share. 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 2.33%.
Tencent Music Entertainment Group ADR [TME] Institutonal Ownership Details
The top three institutional holders of TME stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in TME stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in TME stock with ownership which is approximately 5.8325%.
