As of Wednesday close, Tencent Music Entertainment Group’s (NYSE:TME) stock was up $0.24, moving up 4.17 percent to $6.00. The average number of shares traded per day over the past five days has been 14,350,800 shares. 2 times new highs have been achieved over the past 5 days, with a $0.73 gain in that time frame. In the last twenty days, the average volume was 12,472,830, while in the previous 50 days, it was 10,093,786.
Since last month, TME stock rose 63.93%. Shares of the company fell to $3.14 on 10/24/22, the lowest level in the past month. A 52-week high of $7.70 was reached on 01/12/22 after having rallying from a 52-week low of $2.95. Since the beginning of this year, TME’s stock price has dropped by -12.41% or -$0.85, and marked a new high 3 times. However, the stock has declined by -22.08% since its 52-week high.
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Right now, Tencent Music Entertainment Group (TME) has a P/E ratio of about 22.81. The stock’s beta is 0.66. Besides these, the trailing price-to-sales (P/S) ratio of 2.73, the price-to-book (PB) ratio of 1.44, and the price-to-cash flow ratio of 13.38 may also be considered.
In the three months ended September 29, Tencent Music Entertainment Group’s quick ratio stood at 2.10, while its current ratio was 2.10, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending September 29 was 0.13, and the total debt-to-equity ratio was 0.13. On the profitability front, the trailing twelve-month gross margin is 29.90% percent. In the year ended September 29, EBITDA margin amounted to 11.90%, whereas operating margins totaled 8.80%. Based on annual data, TME earned $1.46 billion in gross profit and brought in $4.84 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 4.10%. Return on equity (ROE) for the past 12 months was 6.30%.
In Tencent Music Entertainment Group’s quarter-end financial report for September 29, it reported total debt of $4.75 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. TME’s revenue rose 6.69% during the quarter, while net income inched up to $4.64 billion. While analysts expected Tencent Music Entertainment Group to report $0.1 quarterly earnings, the actual figure was $0.12 per share. During the quarter, the company generated $135.0 million in EBITDA. The liabilities of Tencent Music Entertainment Group were 2.6 billion at the end of its most recent quarter ended September 29, and its total debt was $6.09 billion.
This quick technical analysis looks at Tencent Music Entertainment Group’s (TME) price momentum. With a historical volatility rate of 161.49%, the RSI 9-day stood at 71.94% on 23 November.
With respect to its five-day moving average, the current Tencent Music Entertainment Group price is up by +13.85% percent or $0.73. At present, TME shares trade +57.07% above its 20-day simple moving average and +12.15% percent above its 100-day simple moving average. However, the stock is currently trading approximately +25.52% above its SMA50 and +0.67% above its SMA200.
Stochastic coefficient K was 89.00% and Stochastic coefficient D was 86.49%, while ATR was 0.43. Given the Stochastic reading of 97.11% for the 14-day period, the RSI (14) reading has been calculated as 69.58%. As of today, the MACD Oscillator reading stands at 0.35, while the 14-day reading stands at 0.90.
JP Morgan upgraded its rating on Tencent Music Entertainment Group (NYSE: TME) to an Overweight in a note to investors on November 21, 2022. The analysts firm previously had a Neutral rating on the stock.Tencent Music Entertainment Group (TME) has been rated Overweight by analysts. According to 2 brokerage firms, TME is a sell, and 8 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 5 analysts rate Tencent Music Entertainment Group stock as buy, with 12 recommending it as overweight.