In recent trading session today, 3.84 million shares of the Tencent Music Entertainment Group ADR (NYSE:TME) have been traded, and its beta is 0.63. Most recently the company’s share price was $12.45, and it changed around -$0.89 or -6.68% from the last close, which brings the market valuation of the company to $8.71B. TME at last check was trading at a discount to its 52-week high of $15.77, offering almost -26.67% off that amount. The share price’s 52-week low was $6.31, which indicates that the recent value has risen by an impressive 49.32% since then. We note from Tencent Music Entertainment Group ADR’s average daily trading volume that its 10-day average is 17.57 million shares, with the 3-month average coming to 10.23 million.
Tencent Music Entertainment Group ADR stock received a consensus recommendation rating of Buy, based on a mean score of 1.53. If we narrow it down even further, the data shows that 1 out of 29 analysts rate the stock as a Sell; another 7 rate it as Overweight. Among the rest, 4 recommended TME as a Hold, whereas 17 deemed it a Buy, and 0 rated it as Underweight.
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Tencent Music Entertainment Group ADR (NYSE:TME) trade information
Instantly TME has been showing red trend so far today with a performance of -6.68% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 14.05 on recent trading dayincreased the stock’s daily price by 11.39%. The company’s shares are currently up 38.17% year-to-date, but still down -2.36% over the last five days. On the other hand, Tencent Music Entertainment Group ADR (NYSE:TME) is 22.65% up in the 30-day period. We can see from the shorts that 24.24 million shares have been sold at a short interest cover period of 2.24 day(s).
The consensus price target as assigned by Wall Street analysts is $13.5, which translates to bulls needing to increase their stock price by 7.78% from its current value. Analyst projections state that TME is forecast to be at a low of $9 and a high of $24.
Tencent Music Entertainment Group ADR (TME) estimates and forecasts
Tencent Music Entertainment Group ADR share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 5.15 percent over the past six months and at a 26.42% annual growth rate that is well above the industry average of 9.20%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 19.83%. Tencent Music Entertainment Group ADR earnings are expected to increase by 35.78% in 2024, but the outlook is positive 19.39% per year for the next five years.
TME Dividends
Tencent Music Entertainment Group ADR’s next quarterly earnings report is expected to be released on 2024-Nov-11. The annual dividend yield of the stock is 1.10 percent and its annual dividend per share was 0.14. It is important to note, however, that the 1.10% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.
Tencent Music Entertainment Group ADR (NYSE:TME)’s Major holders
INVESCO LTD., with 1.7235% or 26.56 million shares worth $373.16 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
