The price-to-earnings ratio for Tencent Music Entertainment Group ADR (NYSE: TME) is 26.34x, which is above its average ratio. Moreover, the 36-month beta value for TME is 0.80. Analysts have varying opinions on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for TME is 692.54M and currently, short sellers hold a 3.03% of that float. On April 22, 2024, TME’s average trading volume was 8.29M shares.
TME) stock’s latest price update
Tencent Music Entertainment Group ADR (NYSE: TME)’s stock price has soared by 2.53 in relation to previous closing price of 11.36. Nevertheless, the company has seen a gain of 3.62% in its stock price over the last five trading days. Schaeffers Research reported 2024-04-09 that Options traders are targeting Tencent Music Entertainment Group (NYSE:TME) today, as the stock jumps to its highest level since July 2021.
TME’s Market Performance
TME’s stock has risen by 3.62% in the past week, with a monthly rise of 2.17% and a quarterly rise of 38.33%. The volatility ratio for the week is 3.20% while the volatility levels for the last 30 days are 3.07% for Tencent Music Entertainment Group ADR. The simple moving average for the past 20 days is 2.46% for TME’s stock, with a 40.06% simple moving average for the past 200 days.
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 8.64% 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 -2.94% of loss for the given period.
Volatility was left at 3.07%, however, over the last 30 days, the volatility rate increased by 3.20%, as shares surge +5.94% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +22.23% upper at present.
During the last 5 trading sessions, TME rose by +3.20%, which changed the moving average for the period of 200-days by +60.89% in comparison to the 20-day moving average, which settled at $11.40. In addition, Tencent Music Entertainment Group ADR saw 29.27% 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:
- 0.22 for the present operating margin
- 0.35 for the gross margin
The net margin for Tencent Music Entertainment Group ADR stands at 0.18. The total capital return value is set at 0.1. Equity return is now at value 9.38, with 6.84 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 1.21. The debt to equity ratio resting at 0.11. The interest coverage ratio of the stock is 48.86.
Currently, EBITDA for the company is 7.18 billion with net debt to EBITDA at -1.22. When we switch over and look at the enterprise to sales, we see a ratio of 4.77. The receivables turnover for the company is 8.96for trailing twelve months and the total asset turnover is 0.37. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.49.
Conclusion
To wrap up, the performance of Tencent Music Entertainment Group ADR (TME) has been better in recent times. The stock has received a mixed of “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
