Stocks of Tencent Music Entertainment Group ADR (NYSE:TME) traded higher last session on Wall Street, up 1.15% to $11.41.
TME stock price is now 12.98% away from the 50-day moving average and 41.51% away from the 200-day moving average. The market capitalization of the company currently stands at $8.23B.
With the price target maintained at $14, Goldman recently Upgraded its rating from Neutral to Buy for Tencent Music Entertainment Group ADR (NYSE: TME). On March 20, 2024, Citigroup Upgraded its previous ‘Neutral’ rating to ‘Buy’ on the stock increasing its target price from $9 to quote $13, while ‘Redburn Atlantic’ rates the stock as ‘Buy’
A total of 1.02% of the company’s stock is owned by insiders.
During the past 12 months, Tencent Music Entertainment Group ADR has had a low of $5.70 and a high of $11.80. As of last week, the company has a debt-to-equity ratio of 0.11, a current ratio of 2.49, and a quick ratio of 2.49. According to the stock market information, the enterprise value for the company is $17.40B, which is based on a 25.98 price-to-earnings ratio, a 1.74 price-to-earnings-growth ratio, and a beta of 0.82. The fifty day moving average price for TME is $10.23 and a two-hundred day moving average price translates $8.13 for the stock.
The latest earnings results from Tencent Music Entertainment Group ADR (NYSE: TME) was released for Dec, 2023. According to the Internet Content & Information Company, earnings per share came in at $0.14, beating analysts’ expectations of $0.13 by 0.01. This compares to $0.10 EPS in the same period last year. The net profit margin was 17.71% and return on equity was 9.38% for TME. The company reported revenue of $900.0 million for the quarter, compared to $1.03 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -13.04 percent. For the current quarter, analysts expect TME to generate $917.96M in revenue.
