The Tencent Music Entertainment Group (NYSE:TME) is going up by 2.94% in today’s trading session, a rise equivalent to 0.4% of the stock’s price from yesterday’s market close. A news came out 1 hour ago stating that The Klein Law Firm Reminds Investors of Class Actions on Behalf of Shareholders of CADE, OLLI and TME by WSJ. The lowest point that the shares touched during the trading session was $13.56, while the peak of the day was recorded at a share price of $13.955. TME finished the previous session at $13.60 according to the data provided by Barchart, while the trading volume was observed to be $2961517.
In the 100 days of trading, TME managed to top a 13.99% Moving average. Additionally, Tencent Music Entertainment Group shares have achieved a 52-week range between 11.81 and 19.97 alongside 100 days raw stochastic set at 38.38%.
The number of shares outstanding, according to the fundamentals of the company, is set at 1.60B, equal to the value of $21.80B in market capitalization. In the last 30 days, Tencent Music Entertainment Group shares went down by -4.89%, adding 14.72 to growth in value, on top of a +9.08% boost since 10/08/19.
Tencent Music Entertainment Group (NYSE:TME) Analyst’s Estimates
Tencent Music Entertainment Group (TME) could record at least $0.09 per share in quarterly earnings in the upcoming report on 11/11/2019, a number that would actually represent an increase of 0.51 YOY.
According to the average analyst rating, Tencent Music Entertainment Group would be rated as Overweight. Out of 20 different analysts monitoring TME stock, 13 analysts rate the stock as a BUY, 7 suggest to give the rating of HOLD, 0 indicate that TME is an OVERWEIGHT, 0 rated the stock as a SELL, and 0 analyst believes that the stock should be rated as UNDERWEIGHT.
On August 05, 2019, the stock earned a Initiated rating due to a new analyst call from Jefferies, while analysts from Loop Capital believe that the stock is set at Buy, as concluded on June 04, 2019. Credit Suisse, is still rather wary about the stock, deciding to keep the rating at Neutral as confirmed through a call on March 21, 2019.
HSBC Securities, on the other hand, provided a rather enthusiastic opinion on the rating, concluded in an analyst call on January 18, 2019, giving the stock a Buy rating.
TME Key Ratios To Watch:
Taking in account the profitability of the Company, gross profit margin of +37.05% has been attained, while the operating margin has been recorded at +17.41%. The firm is also showcasing profitability through returns on assets in the company’s ownership, with ROA set at 4.99%. Additionally, Tencent Music Entertainment Group is recording price volatility of 2.79% for the period of the last seven days and 2.91% in the last 30 days.
Tencent Music Entertainment Group (NYSE:TME) Technical Outlook
For the period of the last 50 days, Tencent Music Entertainment Group had its Raw Stochastic average set at 68.90% for the latest technical analysis. In comparison to the period of the last 20 days, the present Raw Stochastic average for the last 50 days poses as improvement, set at 54.29%. Stochastic %K for Tencent Music Entertainment Group, with the last 20 days included, was set at 41.45%, having Stochastic %D topping 46.38%. Based on the previous performance of the company for the mentioned period, there are more than several recorded moving trends. When it comes to the period of the last 12 months, accounting the time for year-to-date, price performance appears to be encouraging for Tencent Music Entertainment Group stocks with recording 2.87% in metrics.