Tencent Music Entertainment Group ADR (NYSE: TME) has a price-to-earnings ratio that is above its average at 26.90x. The stock has a 36-month beta value of 0.65. Opinions on the stock are mixed, with 17 analysts rating it as a “buy,” 7 as “overweight,” 4 as “hold,” and 1 as “sell.”
The public float for TME is 689.04M, and at present, short sellers hold a 3.63% of that float. On October 11, 2024, the average trading volume of TME was 10.20M shares.
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TME) stock’s latest price update
Tencent Music Entertainment Group ADR (NYSE: TME)’s stock price has plunge by 6.10relation to previous closing price of 12.53. Nevertheless, the company has seen a -1.38% plunge in its stock price over the last five trading sessions. marketbeat.com reported 2024-10-06 that China’s economy has struggled in recent months amid a depressed level of consumer confidence and a devastating housing bust coupled with weak credit demand. Late in September—just after the U.S. Federal Reserve announced its first federal funds rate cut in several years—the People’s Bank of China unveiled a three-part monetary stimulus program to reduce reserve requirement ratios (the amount of cash banks are required to keep on hand), mortgage rates and down payment requirements, and more.
TME’s Market Performance
Tencent Music Entertainment Group ADR (TME) has seen a -1.38% fall in stock performance for the week, with a 36.35% gain in the past month and a -10.54% plunge in the past quarter. The volatility ratio for the week is 4.21%, and the volatility levels for the past 30 days are at 4.96% for TME. The simple moving average for the past 20 days is 12.77% for TME’s stock, with a 12.10% simple moving average for the past 200 days.
Analysts’ Opinion of TME
Many brokerage firms have already submitted their reports for TME stocks, with Morgan Stanley repeating the rating for TME by listing it as a “Equal-Weight.” The predicted price for TME in the upcoming period, according to Morgan Stanley is $13 based on the research report published on September 25, 2024 of the current year 2024.
Goldman gave a rating of “Buy” to TME, setting the target price at $14 in the report published on March 20th of the current year.
TME Trading at 17.53% 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 -15.70% of loss for the given period.
Volatility was left at 4.96%, however, over the last 30 days, the volatility rate increased by 4.21%, as shares surge +40.17% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +0.30% upper at present.
During the last 5 trading sessions, TME fell by -1.11%, which changed the moving average for the period of 200-days by +54.64% in comparison to the 20-day moving average, which settled at $11.79. In addition, Tencent Music Entertainment Group ADR saw 47.55% 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:
- 0.27 for the present operating margin
- 0.39 for the gross margin
The net margin for Tencent Music Entertainment Group ADR stands at 0.2. The total capital return value is set at 0.11. Equity return is now at value 9.77, with 7.24 for asset returns.
Based on Tencent Music Entertainment Group ADR (TME), the company’s capital structure generated 0.09 points at debt to capital in total, while cash flow to debt ratio is standing at 1.5. The debt to equity ratio resting at 0.1. The interest coverage ratio of the stock is 70.15.
Currently, EBITDA for the company is 7.18 billion with net debt to EBITDA at -0.84. When we switch over and look at the enterprise to sales, we see a ratio of 5.27. The receivables turnover for the company is 9.06for trailing twelve months and the total asset turnover is 0.33. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.34.
Conclusion
To sum up, Tencent Music Entertainment Group ADR (TME) has seen a mixed performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others 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.
