In yesterday’s Wall Street session, Tencent Music Entertainment Group ADR (NYSE:TME) shares traded at $6.65, down -1.19% from the previous session.
27 analysts cover Tencent Music Entertainment Group ADR (NYSE:TME), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $80.15 and a low of $41.53, we find $63.42. Given the previous closing price of $6.73, this indicates a potential upside of 842.35 percent. TME stock price is now 2.59% away from the 50-day moving average and -10.07% away from the 200-day moving average. The market capitalization of the company currently stands at $4.63B.
The stock has received a hold rating from 6 analysts and a buy rating from 16. Brokers who have rated the stock have averaged $61.58 as their price target over the next twelve months.
With the price target reduced from $9.70 to $7.50, Citigroup Downgraded its rating from Buy to Neutral for Tencent Music Entertainment Group ADR (NYSE: TME).
A total of 0.02% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in TME stock. A new stake in Tencent Music Entertainment Group ADR shares was purchased by DRIEHAUS CAPITAL MANAGEMENT LLC during the first quarter worth $17,465,000. BALYASNY ASSET MANAGEMENT L.P. invested $8,979,000 in shares of TME during the first quarter. In the first quarter, MATTHEWS INTERNATIONAL CAPITAL MANAGEMENT LLC acquired a new stake in Tencent Music Entertainment Group ADR valued at approximately $8,947,000. MARSHALL WACE, LLP acquired a new stake in TME for approximately $7,863,000. WESTPAC BANKING CORP purchased a new stake in TME valued at around $4,824,000 in the second quarter. In total, there are 439 active investors with 60.79% ownership of the company’s stock.
On Friday morning Tencent Music Entertainment Group ADR (NYSE: TME) stock kicked off with the opening price of $6.64. During the past 12 months, Tencent Music Entertainment Group ADR has had a low of $3.14 and a high of $9.29. As of last week, the company has a debt-to-equity ratio of 0.11, a current ratio of 2.50, and a quick ratio of 2.50. According to the stock market information, the enterprise value for the company is $9.14B, which is based on a 15.81 price-to-earnings ratio, a 0.96 price-to-earnings-growth ratio, and a beta of 0.80. The fifty day moving average price for TME is $6.49 and a two-hundred day moving average price translates $7.38 for the stock.
The latest earnings results from Tencent Music Entertainment Group ADR (NYSE: TME) was released for Jun, 2023. According to the Internet Content & Information Company, earnings per share came in at $0.14, inline with analysts’ expectations of $0.14. This compares to $0.08 EPS in the same period last year. The net profit margin was 16.01% and return on equity was 9.27% for TME. The company reported revenue of $1.0 billion for the quarter, compared to $1.03 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -2.52 percent. For the current quarter, analysts expect TME to generate $860.29M in revenue.
Tencent Music Entertainment Group ADR(TME) Company Profile
Tencent Music Entertainment Group operates online music entertainment platforms to provide music streaming, online karaoke, and live streaming services in the People’s Republic of China. It offers QQ Music, Kugou Music, and Kuwo Music that enable users to discover music in personalized ways; and WeSing, which enables users to sing from its library of karaoke songs and share their performances in audio or video formats with friends. The company also operates QQ Music, Kugou Music, Kuwo Music, WeSing, Kugou Live, and Kuwo Live that provides an interactive online stage for performers and users to showcase their talent and engage with a diverse audience base; and Lazy Audio, an audio platform. In addition, it sells music-related merchandise, including Kugou headsets, smart speakers, WeSing karaoke microphones, and Hi-Fi systems; and offers online music event ticketing services, as well as services to smart device and automobile makers to build and operate music services on devices and vehicles. The company is based in Shenzhen, China. Tencent Music Entertainment Group is a subsidiary of Tencent Holdings Limited.
