In the last trading session, 4.8 million shares of the Tencent Music Entertainment Group ADR (NYSE:TME) were traded, and its beta was 0.65. Most recently the company’s share price was $11.49, and it changed around $0.06 or 0.52% from the last close, which brings the market valuation of the company to $8.04B. TME currently trades at a discount to its 52-week high of $15.77, offering almost -37.25% off that amount. The share price’s 52-week low was $6.76, which indicates that the current value has risen by an impressive 41.17% since then. We note from Tencent Music Entertainment Group ADR’s average daily trading volume that its 10-day average is 5.59 million shares, with the 3-month average coming to 10.12 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 30 analysts rate the stock as a Sell; another 7 rate it as Overweight. Among the rest, 4 recommended TME as a Hold, whereas 18 deemed it a Buy, and 0 rated it as Underweight. Tencent Music Entertainment Group ADR is expected to report earnings per share of 0.17 for the current quarter.
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Tencent Music Entertainment Group ADR (NYSE:TME) trade information
Instantly TME has showed a green trend with a performance of 0.52% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 11.99 on recent trading dayincreased the stock’s daily price by 4.17%. The company’s shares are currently up 27.52% year-to-date, but still down -3.28% over the last five days. On the other hand, Tencent Music Entertainment Group ADR (NYSE:TME) is -6.36% down in the 30-day period. We can see from the shorts that 22.57 million shares have been sold at a short interest cover period of 1.78 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 14.89% 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 fallen -10.79 percent over the past six months and at a 28.30% annual growth rate that is well above the industry average of 9.80%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 41.70% in revenue this quarter, and will report an increase of 28.60% in the next quarter. The year-over-year growth rate is expected to be 2.50%, up from the previous year.
Consensus estimates provided by 14 financial analysts predict the company will bring in an average of 988.87M in revenue for the current quarter. 12 analysts expect Tencent Music Entertainment Group ADR to make 1.04B in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 913.25M and 969.85M respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 8.30%. Forecasts for the next quarter put sales growth at 7.30%.
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 36.99% in 2024, but the outlook is positive 20.19% per year for the next five years.
TME Dividends
Tencent Music Entertainment Group ADR’s next quarterly earnings report is expected to be released in November. The annual dividend yield of the stock is 1.19 percent and its annual dividend per share was 0.14. It is important to note, however, that the 1.19% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.
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