In recent trading session, Tencent Music Entertainment Group ADR (NYSE:TME) saw 2.62 million shares changing hands at last check today with its beta currently measuring 0.81. Company’s recent per share price level of $10.91 trading at -$0.49 or -4.30% at last check today assigns it a market valuation of $7.59B. That most recent trading price of TME’s stock is at a discount of -8.16% from its 52-week high price of $11.80 and is indicating a premium of 47.75% from its 52-week low price of $5.70. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 11.01 million shares which gives us an average trading volume of 9.20 million if we extend that period to 3-months.
Tencent Music Entertainment Group ADR (NYSE:TME) trade information
Upright in the red during last session for losing -4.30%, in the last five days TME remained trading in the green while hitting it’s week-highest on Thursday, 03/21/24 when the stock touched $10.91 price level, adding 7.54% to its value on the day. Tencent Music Entertainment Group ADR’s shares saw a change of 21.09% in year-to-date performance and have moved 5.61% in past 5-day. Tencent Music Entertainment Group ADR (NYSE:TME) showed a performance of 6.03% in past 30-days. Number of shares sold short was 26.19 million shares which calculate 3.24 days to cover the short interests.
Tencent Music Entertainment Group ADR (TME) estimates and forecasts
Statistics highlight that Tencent Music Entertainment Group ADR is scoring comparatively lower than the scores of other players of the relevant industry. The company added 81.23% of value to its shares in past 6 months, showing an annual growth rate of 7.55% while that of industry is 21.80. Apart from that, the company came raising its revenue forecast for fiscal year 2024. The company is estimating its revenue growth to increase by 16.70% in the current quarter and calculating 7.10% increase in the next quarter. This year revenue growth is estimated to rise 2.90% from the last financial year’s standing.
11 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $919.17 million for the same. And 10 analysts are in estimates of company making revenue of $988.16 million in the next quarter that will end on Jun 2024.
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 19.83% during past 5 years. In 2024, company’s earnings growth rate is likely to be around 26.39% while estimates for its earnings growth in next 5 years are of 2.30%.
TME Dividends
Tencent Music Entertainment Group ADR is more likely to be releasing its next quarterly report between May 14 and May 20 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 ADR (NYSE:TME)’s Major holders
Insiders are in possession of 0.00% of company’s total shares while institution are holding 50.56 percent of that, with stock having share float percentage of 50.56%. Investors also watch the number of corporate investors in a company very closely, which is 50.56% institutions for Tencent Music Entertainment Group ADR that are currently holding shares of the company. Blackrock Inc. is the top institutional holder at TME for having 41.27 million shares of worth $453.95 million. And as of Dec 30, 2023, it was holding 4.81% of the company’s outstanding shares.
The second largest institutional holder is Baillie Gifford and Company, which was holding about 26.75 million shares on Dec 30, 2023. The number of shares represents firm’s hold over 3.12% of outstanding shares, having a total worth of $294.2 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 Dec 30, 2023, the former fund manager was holding 21.37 million shares of worth $235.06 million or 2.49% of the total outstanding shares. The later fund manager was in possession of 8.53 million shares on Oct 30, 2023, making its stake of worth around $93.81 million in the company or a holder of 0.99% of company’s stock.
