Tencent Music Entertainment Group ADR [NYSE: TME] gained 0.16% on the last trading session, reaching $12.90 price per share at the time.
If compared to the average trading volume of 8.22M shares, TME reached a trading volume of 5384765 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $12.91 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 1.41. 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.
Goldman 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 March 20, 2024. While these analysts kept the previous recommendation, Citigroup dropped their target price from $9 to $13. The new note on the price target was released on March 20, 2024, representing the official price target for Tencent Music Entertainment Group ADR stock. Previously, the target price had yet another raise to $12, while Redburn Atlantic analysts kept a Buy rating on TME stock.
The Average True Range (ATR) for Tencent Music Entertainment Group ADR is set at 0.39, with the Price to Sales ratio for TME stock in the period of the last 12 months amounting to 2.30. The Price to Book ratio for the last quarter was 1.15, with the Price to Cash per share for the same quarter was set at 4.75.
Trading performance analysis for TME stock
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 9.69. With this latest performance, TME shares gained by 15.28% in over the last four-week period, additionally plugging by 81.18% over the last 6 months – not to mention a rise of 76.71% 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 72.51, with the RSI for the last a single of trading hit 78.05, and the three-weeks RSI is set at 69.07 for Tencent Music Entertainment Group ADR [TME]. The present Moving Average for the last 50 days of trading for this stock 11.04, while it was recorded at 12.66 for the last single week of trading, and 8.47 for the last 200 days.
Tencent Music Entertainment Group ADR [TME]: A deeper dive into fundamental analysis
Tencent Music Entertainment Group ADR’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.49 and a Current Ratio set at 2.49.
Tencent Music Entertainment Group ADR [TME]: An earnings per share (EPS) analysis
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 14.89%.
An analysis of Institutional ownership at Tencent Music Entertainment Group ADR [TME]
The top three institutional holders of TME stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in TME stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in TME stock with ownership which is approximately 5.8386%.
