In recent trading session, Tencent Music Entertainment Group (NYSE:TME) saw 2.68 million shares changing hands at last check today with its beta currently measuring 0. Company’s recent per share price level of $7.01 trading at $0.08 or 1.15% at last check today assigns it a market valuation of $11.45B. That most recent trading price of TME’s stock is at a discount of -360.06% from its 52-week high price of $32.25 and is indicating a premium of 15.69% from its 52-week low price of $5.91. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 12.17 million shares which gives us an average trading volume of 13.76 million if we extend that period to 3-months.
For Tencent Music Entertainment Group (TME), analysts’ consensus is at an average recommendation of an Overweight while assigning it a mean rating of 2.20. Splitting up the data highlights that, out of 25 analysts covering the stock, 1 rated the stock as a Sell while 1 recommended an Overweight rating for the stock. 12 suggested the stock as a Hold whereas 11 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of $0.07 in the current quarter.
Tencent Music Entertainment Group (NYSE:TME) trade information
Upright in the green today for gaining 1.15%, in the last five days TME remained trading in the green while hitting it’s week-highest on Wednesday, 01/12/22 when the stock touched $7.01 price level, adding 8.49% to its value on the day. Tencent Music Entertainment Group’s shares saw a change of 1.17% in year-to-date performance and have moved 5.16% in past 5-day. Tencent Music Entertainment Group (NYSE:TME) showed a performance of 8.62% in past 30-days. Number of shares sold short was 32.35 million shares which calculate 2.29 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $9.95 to the stock, which implies a rise of 29.55% to its recent value today. Analysts have been projecting $5.40 as a low price target for the stock while placing it at a high target of $18.00. It follows that stock’s current price would drop -156.78% in reaching the projected high whereas dropping to the targeted low would mean a gain of 22.97% for stock’s current value.
Tencent Music Entertainment Group (TME) estimates and forecasts
Statistics highlight that Tencent Music Entertainment Group is scoring comparatively lower than the scores of other players of the relevant industry. The company lost -40.77% of value to its shares in past 6 months, showing an annual growth rate of -15.56% while that of industry is 13.20. Apart from that, the company came lowering its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to decrease by -41.70% in the current quarter and calculating -41.70% decrease in the next quarter. This year revenue growth is estimated to rise 9.10% from the last financial year’s standing.
12 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $1.23 billion for the same. And 11 analysts are in estimates of company making revenue of $1.32 billion in the next quarter that will end on Dec 2021. Company posted $1.17 billion and $1.3 billion of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 5.40% while estimating it to be 1.70% for the next quarter.
In 2022, company’s earnings growth rate is likely to be around 3.90% while estimates for its earnings growth in next 5 years are of 0.77%.
Tencent Music Entertainment Group is more likely to be releasing its next quarterly report between March 21 and March 25 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Tencent Music Entertainment Group (NYSE:TME)’s Major holders
Insiders are in possession of 5.63% of company’s total shares while institution are holding 55.11 percent of that, with stock having share float percentage of 58.39%. Investors also watch the number of corporate investors in a company very closely, which is 55.11% institutions for Tencent Music Entertainment Group that are currently holding shares of the company. Baillie Gifford and Company is the top institutional holder at TME for having 50.82 million shares of worth $368.41 million. And as of Sep 29, 2021, it was holding 6.09% of the company’s outstanding shares.
The second largest institutional holder is Blackrock Inc., which was holding about 28.14 million shares on Sep 29, 2021. The number of shares represents firm’s hold over 3.37% of outstanding shares, having a total worth of $204.02 million.
On the other hand, KraneShares CSI China Internet ETF and Vanguard International Stock Index-Emerging Markets Stk are the top two Mutual Funds which own company’s shares. As of Sep 29, 2021, the former fund manager was holding 12.94 million shares of worth $93.84 million or 1.55% of the total outstanding shares. The later fund manager was in possession of 7.76 million shares on Jul 30, 2021, making its stake of worth around $82.07 million in the company or a holder of 0.93% of company’s stock.