Tencent Music Entertainment Group (NYSE:TME) does about 11.34M shares in volume on a normal day but saw 8480422 shares change hands in Monday trading. The company now has a market cap of 24.83B USD. Its current market price is $15.25, marking an increase of 1.60% compared to the previous close of $15.01. The 52 week high reached by this stock is $17.97 whilst the lowest price level in 52 weeks is $9.22. The script in recent trading has seen the stock touch a high of $15.52 and a low of $14.88.
Tencent Music Entertainment Group (TME) has a 20-day trading average at $15.37 and the current price is -15.14% off the 52-week high compared with 65.40% distance from its 52-week low. The 50-day simple moving average of the closing price is $15.07 and its 200-day simple moving average is $12.80. If we look at the stock’s price movements over the week, volatility stands at 3.75%, which decreases to 3.69% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 52.82 to suggest the stock is neutral.
24 analysts observing the Tencent Music Entertainment Group (TME) stock have set the 12-month price targets for the company’s shares at between $14.00 and $20.47. The consensus objective for the share price is $17.73, suggesting that the stock has a potential upside of 13.99% over the period. The median price target is 15.28% away from the current levels at $18.00.
FactSet Research has provided data showing that 24 brokerages have issued ratings for the stock. 0 analysts have rated it as a sell, while 1 advise that it is a overweight. 18 analysts have rated it as a buy and 5 have advised that investors hold their positions. The consensus recommendation rating is Buy and Wall Street’s advice is for investors to Moderate Buy the stock.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on August 14, 2020 when Oppenheimer upgraded the stock to “Outperform” and issued a price target of $20. UBS also upgraded the stock to “Buy” from Neutral on June 30, 2020 at a price target of $17. Morgan Stanley upgraded its price target at $16.
The current price level is -1.06%, 1.59%, and 19.18% away from its SMA20, SMA50, and SMA200 respectively, with the TME price moving above the 50-day SMA on August 24. Tencent Music Entertainment Group (TME) stock is up 6.20% over the week and -2.37% over the past month. Its price is 29.90% year-to-date and 13.05% over the past year.
The stock last released its quarterly earnings report for quarter ended 6/29/2020, with the company’s earnings per share (EPS) of $0.1 above consensus estimates by $0.01. The company’s next earnings report is expected on 11/16/2020, with forecasts estimating quarterly EPS at $0.1 and $0.41 for whole year. Expected sales for next quarter are $1.24 billion, which analysts say will come at $4.23 billion for the current fiscal year and next year at $5.28 billion. In addition, estimates put the company’s current quarterly revenue at an average of $1.09 billion.
Its 12-month price target is $18.00. To reach the target analysts have set, the stock logically needs to grow 13.99 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $14.00, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $20.47.
Outstanding shares total 1.65B with insiders holding 5.18% of the shares and institutional holders owning 37.81% of the company’s common stock. The company has a return on investment of 7.60% and return on equity of 8.70%. The price to earnings ratio (P/E ratio) amounts to 45.39 while the forward price to earnings ratio is 28.14. Price to book ratio is 3.55 and price to sales ratio is 6.35.
According to a U.S. Securities and Exchange Commission filing, Vanguard Total International Stoc has reduced its position in Tencent Music Entertainment Group (TME) to 7,144,024 shares, mirroring a recent drop by -0.11%. Vanguard Total International Stoc dumped 7730.0 shares of Tencent Music Entertainment Group common stock bringing its total worth to about $115.3 million at the end of recent close, SEC documents show. Vanguard Total International Stoc isn’t the only investment manager who changed stakes and is followed by Vanguard Emerging Markets Stock I, which sold off 8022.0 shares to end up with 6,242,891 shares worth $100.76 million. Virtus Vontobel Emerging Markets raise their holdings by 13.83% in the company over the course of the most recent quarter. It now holds a 0.91% position in Tencent Music Entertainment Group thanks to 6.1 million shares amounting to $98.44 million.