How Have Tencent Music Entertainment Group (TME) Insiders Been Trading?

Tencent Music Entertainment Group (NYSE:TME) finished Wednesday with an addition of $0.13 to close at $7.88, an upside of 1.68 percent. An average of 13,026,500 shares of common stock have been traded in the last five days. There was a gain of $0.83 in the past week. The last 20 days have seen an average of 12,753,425 shares traded, while the 50-day average volume stands at 17,226,658.

TME stock has decreased by -2.23% in the last month. The company shares reached their 1-month lowest point of $6.82 on 09/24/21. With the stock rallying to its 52-week high on 03/23/21, shares of the company touched a low of $6.82 and a high of $32.25 in 52 weeks. In spite of this, the price is down -75.56% from the 52-week high.

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Valuation Metrics

Tencent Music Entertainment Group (TME) has a trailing price-to-earnings (P/E) ratio of 21.01, which compares with the 30.20 for the broader industry and 30.41 for the sector. In the last five years, Tencent Music Entertainment Group’s PE ratio has ranged between 110.31 and 22.20. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 2.62, the price-to-book (PB) ratio at 1.64, and the price-to-cash flow ratio at 15.97.

The quick ratio of Tencent Music Entertainment Group for the three months ended June 29 was 2.90, and the current ratio was 2.90, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.10 and a total debt to equity ratio of 0.11 for the quarter ending June 29. On the profitability front, the trailing 12-month gross margin is 31.70% against a 5-year average of 33.5%. Tencent Music Entertainment Group’s EBITDA margin for the year ending June 29 is 15.57%, while its operating margin for the same period stands at 11.70%. Its gross profit as reported stood at $1.35 billion compared to revenue of $4.22 billion.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Tencent Music Entertainment Group’s return on assets was 6.10%, compared to 5.1% over the last five years. In the past year, the return on investment has been 5.70%, and the 5-year average is 5.3%. Meanwhile, the return on equity (ROE) for the past 12 months has been 7.90% and the 5-year average holds at 6.1%. For the broader industry, ROE averaged 7.41 over the past year.

Earnings Surprise

The analyst consensus anticipated Tencent Music Entertainment Group’s latest quarter earnings to come in at $0.1 per share, but it turned out to be $0.1, a 0.00% surprise. For the quarter, EBITDA amounted to $117.0 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Tencent Music Entertainment Group (TME) price momentum. RSI 9-day as of the close on 13 October was 62.05%, suggesting the stock is Neutral, with historical volatility in this time frame at 42.00%.

As of today, TME’s price is $7.68 +11.77% or $0.83 from its 5-day moving average. TME is currently trading -1.25% lower than its 20-day SMA and -47.92% lower than its 100-day SMA. However, the stock’s current price level is -25.31% below the SMA50 and -57.50% below the SMA200.

The stochastic %K and %D were 81.32% and 81.26%, respectively, and the average true range (ATR) was 0.35. With the 14-day stochastic at 91.38% and the average true range at 0.38, the RSI (14) stands at 52.00%. The stock has reached 0.37 on the 9-day MACD Oscillator while the 14-day reading was at 0.46.

Analyst Ratings

Loop Capital downgraded Tencent Music Entertainment Group (NYSE: TME) to a a Hold rating in its most recent analyst report. Previously, the stock was rated as a a Buy.The consensus rating for Tencent Music Entertainment Group (TME) among analysts is Overweight. According to current brokerage recommendations, 1 brokerage firm advise that investors sell TME, while 8 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 2 analysts, while 15 others rate it as a “buy”.

What is TME’s price target for the next 12 months?

Analysts predict a range of price targets between $5.10 and $18.00, with a median target of $10.23. Taking a look at these predictions, the average price target given by analysts for Tencent Music Entertainment Group (TME) stock is $10.85.


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