Tencent Music Entertainment Group ADR [NYSE: TME] surged by $0.61 during the normal trading session on while it closed the day at $13.16.
Tencent Music Entertainment Group ADR stock has also gained 7.96% of its value over the past 7 days. However, TME stock has inclined by 36.37% in the 3 months of the year. Over the past six months meanwhile, it has lost -7.58% and gained 46.06% year-on date.
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The market cap for TME stock reached $9.21 billion, with 699.71 million shares outstanding and 693.71 million shares in the current float. Compared to the average trading volume of 8.80M shares, TME reached a trading volume of 9801851 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 $14.36 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 1.55. 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.
Barclays have made an estimate for Tencent Music Entertainment Group ADR shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on November 06, 2024. While these analysts kept the previous recommendation, Bernstein raised their target price to Outperform. The new note on the price target was released on November 04, 2024, representing the official price target for Tencent Music Entertainment Group ADR stock. Previously, the target price had yet another raise to $13, while Morgan Stanley analysts kept a Equal-Weight rating on TME stock.
The Average True Range (ATR) for Tencent Music Entertainment Group ADR is set at 0.53, with the Price to Sales ratio for TME stock in the period of the last 12 months amounting to 2.38. The Price to Book ratio for the last quarter was 2.23, with the Price to Cash per share for the same quarter was set at 5.82.
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 7.96. With this latest performance, TME shares gained by 11.71% in over the last four-week period, additionally sinking by -7.58% over the last 6 months – not to mention a rise of 62.67% 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 69.13, with the RSI for the last a single of trading hit 77.03, and the three-weeks RSI is set at 63.71 for Tencent Music Entertainment Group ADR [TME]. The present Moving Average for the last 50 days of trading for this stock 11.89, while it was recorded at 12.49 for the last single week of trading, and 12.33 for the last 200 days.
Tencent Music Entertainment Group ADR [TME]: An insightful look at the core fundamentals
Tencent Music Entertainment Group ADR’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.26 and a Current Ratio set at 2.26.
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 18.00%.
Tencent Music Entertainment Group ADR [TME]: Institutional Ownership
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%.
