Tencent Music Entertainment Group (NYSE: TME): Are We Watching A Disaster Or Are We Buying A Gold Mine? – Marketing Sentinel
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Tencent Music Entertainment Group (NYSE: TME): Are We Watching A Disaster Or Are We Buying A Gold Mine?

In today’s recent session, 4.17 million shares of the Tencent Music Entertainment Group (NYSE:TME) have been traded, and its beta is 0.90. Most recently the company’s share price was $4.74, and it changed around $0.06 or 1.39% from the last close, which brings the market valuation of the company to $7.76B. TME at last check was trading at a discount to its 52-week high of $16.17, offering almost -241.14% off that amount. The share price’s 52-week low was $2.95, which indicates that the recent value has risen by an impressive 37.76% since then. We note from Tencent Music Entertainment Group’s average daily trading volume that its 10-day average is 17.71 million shares, with the 3-month average coming to 17.59 million.

Tencent Music Entertainment Group stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.20. If we narrow it down even further, the data shows that 2 out of 27 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 12 recommended TME as a Hold, whereas 11 deemed it a Buy, and 0 rated it as Underweight. Tencent Music Entertainment Group is expected to report earnings per share of $0.07 for the current quarter.

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Tencent Music Entertainment Group (NYSE:TME) trade information

Instantly TME has been showing a green trend so far today with a performance of 1.39% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 4.84 on Tuesday, 06/21/22 increased the stock’s daily price by 2.07%. The company’s shares are currently down -31.68% year-to-date, but still up 9.35% over the last five days. On the other hand, Tencent Music Entertainment Group (NYSE:TME) is 15.27% up in the 30-day period. We can see from the shorts that 39.94 million shares have been sold at a short interest cover period of 2.4 day(s).

The consensus price target as assigned by Wall Street analysts is $5.54, which translates to bulls needing to increase their stock price by 14.44% from its current value. Analyst projections state that TME is forecast to be at a low of $3.60 and a high of $8.00. In order for the stock price to hit the forecast high, the stock would need to plunge -68.78% from its current level, while the stock would need to crash 24.05% from its current level to reach the projected low.

Tencent Music Entertainment Group (TME) estimates and forecasts

Tencent Music Entertainment Group share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -25.71 percent over the past six months and at a -20.51% annual growth rate that is well below the industry average of 9.60%. Moreover, analysts have decided to roll up on their fiscal year 2022 revenue estimates. The rating firms predict that it will loss -41.70% in revenue this quarter, and will report a decrease of -41.70% in the next quarter. The year-over-year growth rate is expected to be 9.10%, up from the previous year.

Consensus estimates provided by 12 financial analysts predict the company will bring in an average of $1.23 billion in revenue for the current quarter. 11 analysts expect Tencent Music Entertainment Group to make $1.32 billion in revenue for the quarter ending Dec 2021. The company’s sales for the same quarters a year ago were $1.17 billion and $1.3 billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 5.40%. Forecasts for the next quarter put sales growth at 1.70%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 104.70%. Tencent Music Entertainment Group earnings are expected to increase by -27.20% in 2022, but the outlook is negative -6.06% per year for the next five years.

TME Dividends

Tencent Music Entertainment Group’s next quarterly earnings report is expected to be released around March 21 and March 25.

Tencent Music Entertainment Group (NYSE:TME)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 5.61% of Tencent Music Entertainment Group shares, and 53.66% of them are in the hands of institutional investors. The stock currently has a share float of 56.85%. Tencent Music Entertainment Group stock is held by 414 institutions, with Baillie Gifford and Company being the largest institutional investor. By Mar 30, 2022, it held 6.00% of the shares, which is about 50.09 million shares worth $243.94 million.

Baillie Gifford and Company, with 5.98% or 50.09 million shares worth $243.94 million as of Mar 30, 2022, holds the second largest percentage of outstanding shares.

KraneShares CSI China Internet ETF and Vanguard International Stock Index-Emerging Markets Stk were the top two Mutual Funds as of Dec 30, 2021. The former held 14.4 million shares worth $98.65 million, making up 1.72% of all outstanding shares. On the other hand, Vanguard International Stock Index-Emerging Markets Stk held roughly 8.2 million shares worth around $50.66 million, which represents about 0.98% of the total shares outstanding.

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