Tencent Music Entertainment Group ADR (NYSE:TME)’s traded shares stood at 0.77 million during the latest session, with the company’s beta value hitting 0.65. At the last check today, the stock’s price was $11.38, to imply a decrease of -1.81% or -$0.21 in intraday trading. The TME share’s 52-week high remains $15.77, putting it -38.58% down since that peak but still an impressive 40.6% since price per share fell to its 52-week low of $6.76. The company has a valuation of $7.96B, with an average of 6.36 million shares in intraday trading volume over the past 10 days and average of 10.15 million shares over the past 3 months.
Analysts have given a consensus recommendation of Buy for Tencent Music Entertainment Group ADR (TME), translating to a mean rating of 1.53. Of 10 analyst(s) looking at the stock, 0 analyst(s) give TME a Sell rating. 0 of those analysts rate the stock as Overweight while 2 advise Hold as 8 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at 0.17.
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Tencent Music Entertainment Group ADR (NYSE:TME) trade information
After registering a -1.81% downside in the latest session, Tencent Music Entertainment Group ADR (TME) has traded red over the past five days. The 5-day price performance for the stock is -2.23%, and 0.89% over 30 days. With these gigs, the year-to-date price performance is 26.30%. Short interest in Tencent Music Entertainment Group ADR (NYSE:TME) saw shorts transact 25.01 million shares and set a 2.18 days time to cover.
The extremes give us $9 and $24 for target low and target high price respectively. As such, TME has been trading -110.9% off suggested target high and 20.91% from its likely low.
Tencent Music Entertainment Group ADR (TME) estimates and forecasts
Looking at statistics comparing Tencent Music Entertainment Group ADR share performance against respective industry, we note that the company has outperformed competitors. Tencent Music Entertainment Group ADR (TME) shares are -10.25% down over the last 6 months, with its year-to-date growth rate higher than industry average at 28.30% against 9.80%. Revenue is forecast to grow 41.70% this quarter before jumping 28.60% for the next one. The rating firms project that company’s revenue will grow 2.50% compared to the previous financial year.
Revenue forecast for the current quarter as set by 14 analysts is 988.64M. Meanwhile, for the current quarter, a total of 12 analyst(s) estimate revenue growth to 1.04B.Earnings reports from the last fiscal year show that sales brought in 913.25M and 969.85M respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 8.30% before jumping 7.30% in the following quarter.
An assessment of the company’s 5-year growth patterns shows that annual earnings grew an estimated 19.83% for the past 5-year period. While 2024 is set for a 37.09% return in earnings, projections for the next 5 years are at 20.19% annually.
TME Dividends
Tencent Music Entertainment Group ADR has its next earnings report out on 2024-Nov-12. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Tencent Music Entertainment Group ADR has a forward dividend ratio of 0.14, with the share yield ticking at 1.20% to continue the rising pattern observed over the past year.
Tencent Music Entertainment Group ADR (NYSE:TME)’s Major holders
The next major institution holding the largest number of shares is INVESCO LTD. with 26.56 million shares, or about 1.7235% of shares outstanding. As of the market price on 2024-06-30, these shares were worth $373.16 million.
We also have KraneShares CSI China Internet ETF and Vanguard International Stock Index-Total Intl Stock Indx as the top two Mutual Funds with the largest holdings of the Tencent Music Entertainment Group ADR (TME) shares. Going by data provided on Jun 30, 2024, KraneShares CSI China Internet ETF holds roughly 15.97 shares. This is just over 1.86% of the total shares, with a market valuation of $181.3 million. Data from the same date shows that the other fund manager holds a little less at 8.68, or 1.01% of the shares, all valued at about 98.54 million.
