Tencent Music Entertainment Group ADR (NYSE:TME) price on Thursday, May 09, rose 0.35% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $13.30.
A look at the stock’s price movement, the level at last check in today’s session was $13.25. The PE ratio in trailing twelve months stood at 30.07. Turning to its 52-week performance, $13.66 and $5.70 were the 52-week high and 52-week low respectively. Overall, TME moved 12.21% over the past month.
Tencent Music Entertainment Group ADR’s market cap currently stands at around $9.30 billion.
Analysts have a consensus estimate of 930.95M for the company’s revenue for the quarter, with a low and high estimate of 915.68M and 1.03B respectively. The average forecast suggests down to a -5.10% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 4.03B, representing a 3.40% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that TME is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
The technical evaluation for the stock shows the PEG ratio is 2.02, with TME’s current price about 7.80% and 16.21% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 66.59, while 7-day volatility ratio is 2.96% and 2.93% in the 30-day chart. Further, Tencent Music Entertainment Group ADR (TME) has a beta value of 0.69, and an average true range (ATR) of 0.40.
If we refocus on Tencent Music Entertainment Group ADR (NYSE:TME), historical trading data shows that trading volumes averaged 7.75 million over the past 3 months. The company’s latest data on shares outstanding shows there are 699.71 million shares.
The 1.02% of Tencent Music Entertainment Group ADR’s shares are in the hands of company insiders while institutional holders own 62.05% of the company’s shares. Current price change has pushed the stock 47.58% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the TME stock continues to rise going into the next quarter.