The trading price of Tencent Music Entertainment Group ADR (NYSE:TME) closed higher on Tuesday, April 23, closing at $12.32, 4.76% higher than its previous close.
The company’s P/E ratio in the trailing 12-month period was 27.86. In examining the 52-week price action we see that the stock hit a 52-week high of $12.00 and a 52-week low of $5.70. Over the past month, the stock has gained 12.51% in value.
Tencent Music Entertainment Group ADR, whose market valuation is $8.62 billion at the time of this writing. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by 0.14 per share this quarter, however they have predicted annual earnings per share of 0.61 for current year and 0.73 for next year.
Analysts have forecast the company to bring in revenue of 914.58M for the current quarter, with the likely lows of 899.58M and highs of 1.01B. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue is 3.96B.
On the technical side, indicators suggest TME has a 100% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.
If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 1.87, which symbolizes a positive outlook. A quick review shows that TME’s price is currently 8.00% off the SMA20 and 14.43% off the SMA50. The RSI metric on the 14-day chart is currently showing 66.85, and weekly volatility stands at 3.38%. When measured over the past 30 days, the indicator reaches 3.08%. Tencent Music Entertainment Group ADR (NYSE:TME)’s beta value is currently sitting at 0.78, while the Average True Range indicator is currently displaying 0.41.
To see how Tencent Music Entertainment Group ADR stock has been performing in comparison to its peers in the industry, here are the numbers: TME stock’s performance was 4.76% in the latest trading, and 61.47% in the past year. Tencent Music Entertainment Group ADR has a P/E ratio of 27.86.
An evaluation of the daily trading volume of Tencent Music Entertainment Group ADR (NYSE:TME) indicates that the 3-month average is 8.25 million.
Currently, records show that 699.71 million of the company’s shares remain outstanding. The insiders hold 1.02% of outstanding shares, whereas institutions hold 60.73%. However, since the stock’s price has seen 36.74% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.
