Tencent Music Entertainment Group ADR (NYSE:TME) shares, rose in value on Friday, April 05, with the stock price up by 2.23% to the previous day’s close as strong demand from buyers drove the stock to $11.46.
Actively observing the price movement in the recent trading, the stock is buoying the session at $11.21. The value of beta (5-year monthly) is 0.80 whereas the PE ratio is 26.09 over 12-month period. Referring to stock’s 52-week performance, its high was $11.80, and the low was $5.70. On the whole, TME has fluctuated by 19.13% over the past month.
With the market capitalization of Tencent Music Entertainment Group ADR currently standing at about $8.27 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 14, 2024 – May 20, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.14, which is expected to increase to $0.16 for fiscal year $0.62 and then to about $0.73 by fiscal year 2025. Data indicates that the EPS growth is expected to be 19.20% in 2025, while the next year’s EPS growth is forecast to be 17.70%.
Analysts have estimated the company’s revenue for the quarter at $917.36 million, with a low estimate of $900.58 million and a high estimate of $1.01 billion. According to the average forecast, sales growth in current quarter could jump down -6.50%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $3.96 billion, representing an increase of 3.40% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that TME’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 1.75, with the price of TME currently trading nearly 5.05% and 12.23% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 61.72, while the 7-day volatility ratio is showing 2.84% which for the 30-day chart, stands at 4.19%. Furthermore, Tencent Music Entertainment Group ADR (TME)’s beta value is 0.82, and its average true range (ATR) is 0.42.
A comparison of Tencent Music Entertainment Group ADR (TME) with its peers suggests the former has fared considerably weaker in the market. TME showed an intraday change of 2.23% in today’s session so far, and over the past year, it grew by 45.25%%.
Data on historical trading for Tencent Music Entertainment Group ADR (NYSE:TME) indicates that the trading volumes over the past 10 days have averaged 7.23 million and over the past 3 months, they’ve averaged 9.12 million. According to company’s latest data on outstanding shares, there are 721.20 million shares outstanding.
Nearly 1.02% of Tencent Music Entertainment Group ADR’s shares belong to company insiders and institutional investors own 59.22% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 30.59 million shares as on Mar 15, 2024, resulting in a short ratio of 3.64. According to the data, the short interest in Tencent Music Entertainment Group ADR (TME) stood at 1.78% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 24.46 million. The stock has risen by 27.20% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the TME stock heading into the next quarter.
