In last trading session, Tencent Music Entertainment Group (NYSE:TME) saw 30,090,303 shares changing hands with its beta currently measuring 0. Company’s recent per share price level of $17.99 trading at -$0.16 or -0.88% at ring of the bell on the day assigns it a market valuation of $30.45 Billion. That closing price of TME’s stock is at a discount of -79.27% from its 52-week high price of $32.25 and is indicating a premium of 43.14% from its 52-week low price of $10.23. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 133.71 Million shares which gives us an average trading volume of 30.85 Million if we extend that period to 3-months.
For Tencent Music Entertainment Group (TME), analysts’ consensus is at an average recommendation of Overweight while assigning it a mean rating of 2. Splitting up the data highlights that, out of 25 analysts covering the stock, none rated the stock as a Sell while 3 recommended an Overweight rating for the stock. 7 suggested the stock as a Hold whereas 15 see the stock as a Buy. None analyst(s) advised it as an Underweight. The company is expected to be making an EPS of $0.09 in the current quarter.
Tencent Music Entertainment Group (NYSE:TME) trade information
In the face of being in the red during last session for losing -0.88%, in the last five days TME remained trading in the green while hitting it’s week-highest on Friday, Apr 09 when the stock touched $19.90- price level, adding 9.58% to its value on the day. Tencent Music Entertainment Group’s shares saw a change of -6.5% in year-to-date performance and have moved -6.55% in past 5-day. Tencent Music Entertainment Group (NYSE:TME) showed a performance of -31.75% in past 30-days. Number of shares sold short was 37.29 Million shares which calculate 1.21 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $30.26 to the stock, which implies a rise of 68.2% to its current value. Analysts have been projecting $20 as a low price target for the stock while placing it at a high target of $38. It follows that stock’s current price would jump +111.23% in reaching the projected high whereas dropping to the targeted low would mean a loss of 11.17% for stock’s current value.
Tencent Music Entertainment Group (TME) estimates and forecasts
12 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $1.19 Billion for the same. And 12 analysts are in estimates of company making revenue of $1.29 Billion in the next quarter that will end on June 01, 2021. Company posted $901.78 Million and $1.01 Billion of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 31.5% while estimating it to be 27.7% for the next quarter.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 0% during past 5 years. In 2021, company’s earnings growth rate is likely to be around 3.9% while estimates for its earnings growth in next 5 years are of 2.31%
Tencent Music Entertainment Group (NYSE:TME)’s Major holders
Insiders are in possession of 9.76% of company’s total shares while institution are holding 71.15% percent of that, with stock having share float percentage of 78.85%. Investors also watch the number of corporate investors in a company very closely, which is 453 institutions for Tencent Music Entertainment Group that are currently holding shares of the company. Credit Suisse Ag/ is the top institutional holder at TME for having 53.22 Million shares of worth $1.02 Billion. And as of December 30, 2020, it was holding 6.37% of the company’s outstanding shares.
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The second largest institutional holder is Morgan Stanley, which was holding about 48.11 Million shares on December 30, 2020. The number of shares represents firm’s hold over 5.76% of outstanding shares, having a total worth of $925.68 Million.
On the other hand, Virtus Opportunities Tr-Virtus Vontobel Emerging Markets Opp Fd and Vanguard International Stock Index-Emerging Markets Stk are the top two Mutual Funds which own company’s shares. As of December 30, 2020, the former fund manager was holding 7679722 shares of worth $147.76 Million or 0.92% of the total outstanding shares. The later fund manager was in possession of 6.16 Million shares on January 30, 2021, making its stake of worth around $163.74 Million in the company or a holder of 0.74% of company’s stock.