Tencent Music Entertainment Group ADR (NYSE:TME) has a beta value of 0.65 and has seen 2.77 million shares traded in the recent trading session. The company, currently valued at $8.99B, closed the recent trade at $12.85 per share which meant it gained $0.07 on the day or 0.59% during that session. The TME stock price is -22.72% off its 52-week high price of $15.77 and 50.35% above the 52-week low of $6.38. If we look at the company’s 10-day average daily trading volume, we find that it stood at 11.76 million shares traded. The 3-month trading volume is 10.25 million shares.
The consensus among analysts is that Tencent Music Entertainment Group ADR (TME) is Buy stock at the moment, with a recommendation rating of 1.53. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 2 out of 10 have rated it as a Hold, with 8 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is 0.17.
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Tencent Music Entertainment Group ADR (NYSE:TME) trade information
Sporting 0.59% in the green today, the stock has traded in the red over the last five days, with the highest price hit on recent trading when the TME stock price touched $12.85 or saw a rise of 4.03%. Year-to-date, Tencent Music Entertainment Group ADR shares have moved 42.67%, while the 5-day performance has seen it change -3.64%. Over the past 30 days, the shares of Tencent Music Entertainment Group ADR (NYSE:TME) have changed 35.17%. Short interest in the company has seen 25.01 million shares shorted with days to cover at 2.18.
Wall Street analysts have a consensus price target for the stock at $13.5, which means that the shares’ value could jump 4.81% from the levels at last check today.. The projected low price target is $9.0 while the price target rests at a high of $24.0. In that case, then, we find that the latest price level in today’s session is -86.77% off the targeted high while a plunge would see the stock lose 29.96% from the levels at last check today..
Tencent Music Entertainment Group ADR (TME) estimates and forecasts
Figures show that Tencent Music Entertainment Group ADR shares have outperformed across the wider relevant industry. The company’s shares have gained 14.37% over the past 6 months, with this year growth rate of 26.42%, compared to 8.40% for the industry. Revenue growth from the last financial year stood is estimated to be 3.20%.
14 analysts offering their estimates for the company have set an average revenue estimate of 996.58M for the current quarter. 12 have an estimated revenue figure of 1.05B for the next ending quarter. Year-ago sales stood 913.25M and 969.85M respectively for this quarter and the next, and analysts expect sales will grow by 9.10% for the current quarter and 3.20% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 19.83% over the past 5 years. Earnings growth for 2024 is a modest 37.00% while over the next 5 years, the company’s earnings are expected to increase by 19.39%.
TME Dividends
Tencent Music Entertainment Group ADR is expected to release its next earnings report on 2024-Nov-11 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.14 at a share yield of 1.07%. The company’s dividend yield has gone up over the past 12 months.
Tencent Music Entertainment Group ADR (NYSE:TME)’s Major holders
The top two institutional holders are BLACKROCK INC. with over 31.29 million shares worth more than $439.57 million. As of 2024-06-30, BLACKROCK INC. held 2.0303% of shares outstanding.
The other major institutional holder is INVESCO LTD., with the holding of over 26.56 million shares as of 2024-06-30. The firm’s total holdings are worth over $373.16 million and represent 1.7235% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are KraneShares CSI China Internet ETF and Vanguard International Stock Index-Total Intl Stock Indx . As of Jun 30, 2024 , the former fund manager holds about 1.86% shares in the company for having 15.97 shares of worth $202.48 million while later fund manager owns 8.68 shares of worth $110.04 million as of Jul 31, 2024 , which makes it owner of about 1.01% of company’s outstanding stock.
