Tencent Music Entertainment Group (NYSE:TME) finished Thursday with an addition of $0.1 to close at $6.51, an upside of 1.56 percent. An average of 8,420,620 shares of common stock have been traded in the last five days. There was a fall of -$0.26 in the past week, and it reached a new high 18 times over the past 12 months. The last 20 days have seen an average of 8,209,695 shares traded, while the 50-day average volume stands at 6,670,116.
TME stock has increased by 0.31% in the last month. The company shares reached their 1-month lowest point of $5.70 on 08/15/23. With the stock rallying to its 52-week high on 01/04/23, shares of the company touched a low of $3.14 and a high of $9.29 in 52 weeks. It has reached a new high 2 times so far this year and lost -21.38% or -$1.77 in price. In spite of this, the price is down -29.92% 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 16.19. The stock’s beta is 0.81. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 2.90, the price-to-book (PB) ratio at 1.39, and the price-to-cash flow ratio at 11.02.
Financial Health
The quick ratio of Tencent Music Entertainment Group for the three months ended June 29 was 2.50, and the current ratio was 2.50, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.11 and a total debt to equity ratio of 0.11 for the quarter ending June 29. Tencent Music Entertainment Group’s EBITDA margin for the year ending June 29 is 15.44%, while its operating margin for the same period stands at 15.10%. Its gross profit as reported stood at $1.3 billion compared to revenue of $4.21 billion.
Earnings Surprise
For the three-month period that ended June 29, Tencent Music Entertainment Group had $0.89 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 $546.03 million in the quarter, while revenues were grew 17.62%. The analyst consensus anticipated Tencent Music Entertainment Group’s latest quarter earnings to come in at $0.13 per share, but it turned out to be $0.13, a 0.00% surprise. For the quarter, EBITDA amounted to $172.0 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 24 August was 51.11%, suggesting the stock is Neutral, with historical volatility in this time frame at 39.77%.
As of today, TME’s price is $6.47 -3.84% or -$0.26 from its 5-day moving average. TME is currently trading +2.52% higher than its 20-day SMA and -21.38% lower than its 100-day SMA. However, the stock’s current price level is -17.80% below the SMA50 and +63.98% above the SMA200.
The stochastic %K and %D were 60.38% and 61.29%, respectively, and the average true range (ATR) was 0.34. With the 14-day stochastic at 66.39% and the average true range at 0.34, the RSI (14) stands at 47.67%. The stock has reached 0.01 on the 9-day MACD Oscillator while the 14-day reading was at 0.08.
Analyst Ratings
Citigroup downgraded Tencent Music Entertainment Group (NYSE: TME) to a a Neutral rating in its most recent analyst report. Previously, the stock was rated as 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 4 analysts, while 14 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 $41.53 and $80.15, with a median target of $60.48. Taking a look at these predictions, the average price target given by analysts for Tencent Music Entertainment Group (TME) stock is $60.29.
