The price-to-earnings ratio for Tencent Music Entertainment Group (NYSE: TME) is above average at 15.79x, while the 36-month beta value is 0.81.Analysts have differing opinions on the stock, with 14 analysts rating it as a “buy,” 4 as “overweight,” 7 as “hold,” and 1 as “sell.”
The average price point forecasted by analysts for Tencent Music Entertainment Group (TME) is $60.44, which is $2.15 above the current market price. The public float for TME is 883.60M, and currently, short sellers hold a 1.44% ratio of that floaft. The average trading volume of TME on September 18, 2023 was 6.82M shares.
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TME) stock’s latest price update
Tencent Music Entertainment Group (NYSE: TME) has seen a rise in its stock price by 0.71 in relation to its previous close of 6.32. However, the company has experienced a -2.08% decline in its stock price over the last five trading sessions. 24/7 Wall Street reported 2023-09-16 that While most of Wall Street focuses on large-cap and mega-cap stocks, as they provide a degree of safety and liquidity, many investors are limited in the number of shares they can buy.
TME’s Market Performance
TME’s stock has fallen by -2.08% in the past week, with a monthly drop of -5.98% and a quarterly drop of -20.73%. The volatility ratio for the week is 3.22% while the volatility levels for the last 30 days are 3.56% for Tencent Music Entertainment Group The simple moving average for the last 20 days is -3.69% for TME stock, with a simple moving average of -15.86% for the last 200 days.
Analysts’ Opinion of TME
Many brokerage firms have already submitted their reports for TME stocks, with Citigroup repeating the rating for TME by listing it as a “Neutral.” The predicted price for TME in the upcoming period, according to Citigroup is $7.50 based on the research report published on July 31, 2023 of the current year 2023.
TME Trading at -5.19% from the 50-Day Moving Average
After a stumble in the market that brought TME to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -31.49% of loss for the given period.
Volatility was left at 3.56%, however, over the last 30 days, the volatility rate increased by 3.22%, as shares sank -2.91% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -12.55% lower at present.
During the last 5 trading sessions, TME fell by -2.46%, which changed the moving average for the period of 200-days by -3.94% in comparison to the 20-day moving average, which settled at $6.60. In addition, Tencent Music Entertainment Group saw -23.13% in overturn over a single year, with a tendency to cut further losses.
Stock Fundamentals for TME
Current profitability levels for the company are sitting at:
- +11.35 for the present operating margin
- +30.09 for the gross margin
The net margin for Tencent Music Entertainment Group stands at +12.98. The total capital return value is set at 5.71, while invested capital returns managed to touch 6.65. Equity return is now at value 9.30, with 6.80 for asset returns.
Based on Tencent Music Entertainment Group (TME), the company’s capital structure generated 12.40 points at debt to equity in total, while total debt to capital is 11.03. Total debt to assets is 8.90, with long-term debt to equity ratio resting at 12.15. Finally, the long-term debt to capital ratio is 10.81.
When we switch over and look at the enterprise to sales, we see a ratio of 1.88, with the company’s debt to enterprise value settled at 0.07. The receivables turnover for the company is 8.32 and the total asset turnover is 0.42. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.28.
Conclusion
In a nutshell, Tencent Music Entertainment Group (TME) has experienced a bad performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
