Tencent Music Entertainment Group ADR (NYSE:TME) traded at $12.82 at last check on Monday, April 29, made a downward move of -0.49% on its previous day’s price.
Looking at the stock we see that its previous close was $12.88. The company has a trailing 12-month PE ratio of 28.98. In terms of its 52-week price range, TME has a high of $12.93 and a low of $5.70. The company’s stock has gained about 14.53% over that past 30 days.
Tencent Music Entertainment Group ADR has a market cap of $8.97 billion. Estimates by analysts give the company expected earnings per share (EPS) of $0.14, with the EPS growth for the year raised at $0.62 for 2024 and $0.75 for next year. These figures represent 17.00% and 21.00% growth in EPS for the two years respectively.
Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $932.19 million, with a low of $916.9 million and a high of $1.03 billion. The median projection represents growth adding up to -4.90% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2024 is expected to hit $4.04 billion, or 3.40% up from figures reported last year.
On the other hand, looking at the outlook for the TME stock, short term indicators assign the stock an average of 100% Buy, while medium term indicators assign it an average of 100% Buy. Long term indicators on average place the stock in the category of 100% Buy.
Looking further, we note that the PEG ratio for the TME stock currently stands at 1.95, and the most recent price level today is 9.50% off its SMA20 and 16.65% from its 50-day simple moving average. The RSI (14) is pointing at 70.78 while the volatility over the past week is 3.16% and jumps to 2.98% over the past one month. The beta value is 0.78, while the average true range (ATR) is currently pointing at 0.39.
Coming back to Tencent Music Entertainment Group ADR (NYSE:TME), we note that the average 3-month trading volume was 8.22 million. Current shares outstanding are 699.71 million.
The insiders hold 1.02% of the company’s shares while institutions hold 61.33%. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock 42.25% up in year-to-date price movement.
