Tencent Music Entertainment Group ADR [NYSE: TME] traded at a high on Monday, posting a 4.49 gain after which it closed the day’ session at $10.70.
The results of the trading session contributed to over 10031463 shares changing hands. Over the past one week, the price volatility of Tencent Music Entertainment Group ADR stands at 3.67% while the volatility over the past one month is 4.24%.
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The market cap for TME stock reached $7.49 billion, with 699.71 million shares outstanding and 689.04 million shares in the current float. Compared to the average trading volume of 8.42M shares, TME reached a trading volume of 10031463 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus 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 $14.56 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 1.40. 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.
Daiwa Securities 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 August 13, 2024. 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 from $9 to $13, while Citigroup kept a Buy rating on TME stock.
The Average True Range (ATR) for Tencent Music Entertainment Group ADR is set at 0.56, with the Price to Sales ratio for TME stock in the period of the last 12 months amounting to 1.98. 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 4.83.
How has TME stock performed recently?
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 0.56. With this latest performance, TME shares dropped by -24.06% in over the last four-week period, additionally plugging by 2.69% over the last 6 months – not to mention a rise of 64.36% 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 33.11, with the RSI for the last a single of trading hit 33.94, and the three-weeks RSI is set at 34.75 for Tencent Music Entertainment Group ADR [TME]. The present Moving Average for the last 50 days of trading for this stock 13.51, while it was recorded at 10.40 for the last single week of trading, and 11.40 for the last 200 days.
Tencent Music Entertainment Group ADR [TME]: Deeper insight into the fundamentals
Tencent Music Entertainment Group ADR’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.34 and a Current Ratio set at 2.34.
Earnings analysis for Tencent Music Entertainment Group ADR [TME]
With the latest financial reports released by the company, Tencent Music Entertainment Group ADR posted 0.12/share EPS, while the average EPS was predicted by analysts to be reported at 0.12/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 19.66%.
Insider trade positions for Tencent Music Entertainment Group ADR [TME]
The top three institutional holders of TME stocks are: BLACKROCK INC. with ownership of 31.29 million shares, which is approximately 2.0303%. INVESCO LTD., holding 26.56 million shares of the stock with an approximate value of $$373.16 million in TME stocks shares; and INVESCO LTD., currently with $$353.0 million in TME stock with ownership which is approximately 1.6304%.
