The stock of Tencent Music Entertainment Group ADR (TME) has seen a -1.84% decrease in the past week, with a 9.17% gain in the past month, and a 30.57% flourish in the past quarter. The volatility ratio for the week is 3.10%, and the volatility levels for the past 30 days are at 4.58% for TME. The simple moving average for the past 20 days is 5.57% for TME’s stock, with a 39.61% simple moving average for the past 200 days.
Is It Worth Investing in Tencent Music Entertainment Group ADR (NYSE: TME) Right Now?
Tencent Music Entertainment Group ADR (NYSE: TME) has a price-to-earnings ratio of 25.48x that is above its average ratio. Additionally, the 36-month beta value for TME is 0.80. There are mixed opinions on the stock, with 17 analysts rating it as a “buy,” 7 rating it as “overweight,” 4 rating it as “hold,” and 0 rating it as “sell.”
The public float for TME is 713.82M and currently, short sellers hold a 4.29% ratio of that float. The average trading volume of TME on April 01, 2024 was 9.28M shares.
TME) stock’s latest price update
Tencent Music Entertainment Group ADR (NYSE: TME)’s stock price has increased by 1.18 compared to its previous closing price of 11.06. However, the company has seen a -1.84% decrease in its stock price over the last five trading sessions. Yahoo Finance reported 2024-03-19 that As concerns over China’s economic trajectory linger, there are signs that a gradual recovery may be underway. KraneShares CIO Brendan Ahern joins Yahoo Finance Live to discuss the outlook for the Chinese market.
Analysts’ Opinion of TME
Many brokerage firms have already submitted their reports for TME stocks, with Goldman repeating the rating for TME by listing it as a “Buy.” The predicted price for TME in the upcoming period, according to Goldman is $14 based on the research report published on March 20, 2024 of the current year 2024.
Citigroup, on the other hand, stated in their research note that they expect to see TME reach a price target of $13, previously predicting the price at $9. The rating they have provided for TME stocks is “Buy” according to the report published on March 20th, 2024.
Redburn Atlantic gave a rating of “Buy” to TME, setting the target price at $12 in the report published on February 05th of the current year.
TME Trading at 12.50% 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 -5.17% of loss for the given period.
Volatility was left at 4.58%, however, over the last 30 days, the volatility rate increased by 3.10%, as shares surge +6.88% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +28.47% upper at present.
During the last 5 trading sessions, TME fell by -1.84%, which changed the moving average for the period of 200-days by +43.83% in comparison to the 20-day moving average, which settled at $10.64. In addition, Tencent Music Entertainment Group ADR saw 24.20% in overturn over a single year, with a tendency to cut further gains.
Stock Fundamentals for TME
Current profitability levels for the company are sitting at:
- 0.2 for the present operating margin
- 0.34 for the gross margin
The net margin for Tencent Music Entertainment Group ADR stands at 0.17. The total capital return value is set at 0.09. Equity return is now at value 9.38, with 6.85 for asset returns.
Based on Tencent Music Entertainment Group ADR (TME), the company’s capital structure generated 0.1 points at debt to capital in total, while cash flow to debt ratio is standing at 1.28. The debt to equity ratio resting at 0.11. The interest coverage ratio of the stock is 40.37.
Currently, EBITDA for the company is 4.48 billion with net debt to EBITDA at -1.06. When we switch over and look at the enterprise to sales, we see a ratio of 4.52. The receivables turnover for the company is 11.3for trailing twelve months and the total asset turnover is 0.39. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.49.
Conclusion
In conclusion, Tencent Music Entertainment Group ADR (TME) has seen better performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
