During the recent session, Tencent Music Entertainment Group ADR (NYSE:TME)’s traded shares were 1.24 million, with the beta value of the company hitting 0.65. At the last check today, the stock’s price was $12.66, reflecting an intraday gain of 1.04% or $0.13. The 52-week high for the TME share is $15.77, that puts it down -24.57 from that peak though still a striking 49.61% gain since the share price plummeted to a 52-week low of $6.38. The company’s market capitalization is $8.86B, and the average intraday trading volume over the past 10 days was 12.08 million shares, and the average trade volume was 10.20 million shares over the past three months.
Tencent Music Entertainment Group ADR (TME) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 1.53. TME has a Sell rating from 0 analyst(s) out of 10 analysts who have looked at this stock. 2 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 8 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be 0.17.
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Tencent Music Entertainment Group ADR (NYSE:TME) trade information
Tencent Music Entertainment Group ADR (TME) registered a 1.04% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 1.04% in intraday trading to $12.66, hitting a weekly high. The stock’s 5-day price performance is -6.08%, and it has moved by 29.85% in 30 days. Based on these gigs, the overall price performance for the year is 86.45%. The short interest in Tencent Music Entertainment Group ADR (NYSE:TME) is 25.01 million shares and it means that shorts have 2.18 day(s) to cover.
The consensus price target of analysts on Wall Street is $13.5, which implies an increase of 6.22% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $9 and $24 respectively. As a result, TME is trading at a discount of -89.57% off the target high and 28.91% off the low.
Tencent Music Entertainment Group ADR (TME) estimates and forecasts
Statistics show that Tencent Music Entertainment Group ADR has outperformed its competitors in share price, compared to the industry in which it operates. Tencent Music Entertainment Group ADR (TME) shares have gone up 11.35% during the last six months, with a year-to-date growth rate more than the industry average at 26.42% against 8.40. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 41.70% this quarter and then jump 28.60% in the quarter after that. In the rating firms’ projections, revenue will increase 3.00% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 994.48M as predicted by 14 analyst(s). Meanwhile, a consensus of 12 analyst(s) estimates revenue growth to 1.05B by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 913.25M and 969.85M respectively. In this case, analysts expect current quarter sales to grow by 8.90% and then jump by 8.00% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 19.83%. While earnings are projected to return 37.27% in 2024, the next five years will return 19.39% per annum.
TME Dividends
Tencent Music Entertainment Group ADR is due to release its next quarterly earnings on 2024-Nov-11. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Tencent Music Entertainment Group ADR is 0.14, with the dividend yield indicating at 1.08 percent, continuing the trend of increasing dividends in recent years.
Tencent Music Entertainment Group ADR (NYSE:TME)’s Major holders
The next largest institutional holding, with 26.56 million shares, is of INVESCO LTD.’s that is approximately 1.7235% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $373.16 million.
Also, the Mutual Funds coming in first place with the largest holdings of Tencent Music Entertainment Group ADR (TME) shares are KraneShares CSI China Internet ETF and Vanguard International Stock Index-Total Intl Stock Indx. Data provided on Jun 30, 2024 indicates that KraneShares CSI China Internet ETF owns about 15.97 shares. This amounts to just over 1.86 percent of the company’s overall shares, with a $207.65 million market value. The same data shows that the other fund manager holds slightly less at 8.68, or about 1.01% of the stock, which is worth about $112.85 million.
