Tencent Music Entertainment Group (NYSE:TME) has seen 9.28 million shares traded in the last trading session. The company, currently valued at $14.91B, closed the last trade at $8.93 per share which meant it gained $0.12 on the day or 1.36% during that session. The TME stock price is -261.14% off its 52-week high price of $32.25 and 21.28% above the 52-week low of $7.03. If we look at the company’s 10-day average daily trading volume, we find that it stood at 14.81 million shares traded. The 3-month trading volume is 17.33 million shares.
The consensus among analysts is that Tencent Music Entertainment Group (TME) is an Overweight stock at the moment, with a recommendation rating of 2.20. 1 analysts rate the stock as a Sell, while 2 rate it as Overweight. 8 out of 26 have rated it as a Hold, with 15 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is $0.62.
Tencent Music Entertainment Group (NYSE:TME) trade information
Sporting 1.36% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on Friday, 09/03/21 when the TME stock price touched $8.93 or saw a rise of 5.6%. Year-to-date, Tencent Music Entertainment Group shares have moved -53.59%, while the 5-day performance has seen it change 4.08%. Over the past 30 days, the shares of Tencent Music Entertainment Group (NYSE:TME) have changed -14.71%. Short interest in the company has seen 20.25 million shares shorted with days to cover at 1.08.
Wall Street analysts have a consensus price target for the stock at $12.81, which means that the shares’ value could jump 30.29% from current levels. The projected low price target is $5.10 while the price target rests at a high of $22.00. In that case, then, we find that the current price level is -146.36% off the targeted high while a plunge would see the stock lose 42.89% from current levels.
Tencent Music Entertainment Group (TME) estimates and forecasts
Figures show that Tencent Music Entertainment Group shares have underperformed across the wider relevant industry. The company’s shares have lost -64.73% over the past 6 months, with this year growth rate of -22.22%, compared to 2.50% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2021 fiscal year revenue. Growth estimates for the current quarter are 520.00% and 300.00% for the next quarter. Revenue growth from the last financial year stood is estimated to be 606.30%.
13 analysts offering their estimates for the company have set an average revenue estimate of $8.13 billion for the current quarter. 11 have an estimated revenue figure of $7.98 billion for the next quarter concluding in Sep 2021. Year-ago sales stood $1.01 billion and $1.17 billion respectively for this quarter and the next, and analysts expect sales will grow by 705.50% for the current quarter and 583.40% for the next.
Earnings growth for 2021 is a modest 3.90% while over the next 5 years, the company’s earnings are expected to increase by 5.00%.
Tencent Music Entertainment Group is expected to release its next earnings report between November 08 and November 12 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Tencent Music Entertainment Group (NYSE:TME)’s Major holders
Insiders own 9.76% of the company shares, while shares held by institutions stand at 59.22% with a share float percentage of 65.62%. Investors are also buoyed by the number of investors in a company, with Tencent Music Entertainment Group having a total of 521 institutions that hold shares in the company. The top two institutional holders are Baillie Gifford and Company with over 45.58 million shares worth more than $705.54 million. As of Jun 29, 2021, Baillie Gifford and Company held 5.46% of shares outstanding.
The other major institutional holder is Invesco Ltd., with the holding of over 34.5 million shares as of Jun 29, 2021. The firm’s total holdings are worth over $534.14 million and represent 4.13% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Invesco Developing Markets Fund and Vanguard International Stock Index-Emerging Markets Stk. As of Apr 29, 2021, the former fund manager holds about 1.70% shares in the company for having 14.19 million shares of worth $247.22 million while later fund manager owns 6.41 million shares of worth $111.66 million as of Apr 29, 2021, which makes it owner of about 0.77% of company’s outstanding stock.