Are You Looking To Buy Tencent Music Entertainment Group (TME)? First, Read This

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KOSK Stock
KOSK Stock

Tencent Music Entertainment Group (NYSE:TME) finished Thursday with a subtraction of -$0.07 to close at $4.23, a downside of -1.63 percent. An average of 8,721,460 shares of common stock have been traded in the last five days. There was a fall of -$0.60 in the past week, and it reached a new high 6 times over the past 12 months. The last 20 days have seen an average of 9,969,375 shares traded, while the 50-day average volume stands at 9,452,594.

TME stock has decreased by -3.86% in the last month. The company shares reached their 1-month lowest point of $4.14 on 09/21/22. With the stock rallying to its 52-week high on 01/12/22, shares of the company touched a low of $2.95 and a high of $9.10 in 52 weeks. It has reached a new high 3 times so far this year and lost -38.25% or -$2.62 in price. In spite of this, the price is down -53.52% 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 17.77. The stock’s beta is 0.60. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.83, the price-to-book (PB) ratio at 1.01, and the price-to-cash flow ratio at 8.61.

Financial Health

The quick ratio of Tencent Music Entertainment Group for the three months ended June 29 was 2.30, and the current ratio was 2.30, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.12 and a total debt to equity ratio of 0.12 for the quarter ending June 29. Its gross profit as reported stood at $1.46 billion compared to revenue of $4.84 billion.

Earnings Surprise

For the three-month period that ended June 29, Tencent Music Entertainment Group had $4.75 million in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $449.81 million in the quarter, while revenues were shrunk -37.17%. 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 $97.0 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 22 September was 33.19%, suggesting the stock is Neutral, with historical volatility in this time frame at 60.86%.

As of today, TME’s price is $4.46 -12.42% or -$0.60 from its 5-day moving average. TME is currently trading -10.57% lower than its 20-day SMA and -0.47% lower than its 100-day SMA. However, the stock’s current price level is -4.73% below the SMA50 and -31.55% below the SMA200.

The stochastic %K and %D were 12.32% and 12.94%, respectively, and the average true range (ATR) was 0.26. With the 14-day stochastic at 9.09% and the average true range at 0.27, the RSI (14) stands at 39.42%. The stock has reached -0.27 on the 9-day MACD Oscillator while the 14-day reading was at -0.31.

Analyst Ratings

The consensus rating for Tencent Music Entertainment Group (TME) among analysts is Overweight. According to current brokerage recommendations, 2 brokerage firms advise that investors sell TME, while 13 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 4 analysts, while 10 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 $3.60 and $8.00, with a median target of $5.40. Taking a look at these predictions, the average price target given by analysts for Tencent Music Entertainment Group (TME) stock is $5.83.

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