The price of Tencent Music Entertainment Group ADR (NYSE: TME) closed at $11.21 in the last session, down -1.75% from day before closing price of $11.41. In other words, the price has decreased by -$0.20 from its previous closing price. On the day, 2861950 shares were traded. TME stock price reached its highest trading level at $11.53 during the session, while it also had its lowest trading level at $11.19.
Ratios:
We take a closer look at TME’s different ratios to gain a better understanding of the stock. For the most recent quarter (mrq), Quick Ratio is recorded 2.49 and its Current Ratio is at 2.49. In the meantime, Its Debt-to-Equity ratio is 0.11 whereas as Long-Term Debt/Eq ratio is at 0.11.
On March 20, 2024, Citigroup Upgraded its rating to Buy which previously was Neutral and also upped its target price recommendation from $9 to $13.
On February 05, 2024, Redburn Atlantic started tracking the stock assigning a Buy rating and target price of $12.Redburn Atlantic initiated its Buy rating on February 05, 2024, with a $12 target price.
Valuation Measures:
Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, TME now has a Market Capitalization of 18.98B and an Enterprise Value of 16.76B. As of this moment, Tencent’s Price-to-Earnings (P/E) ratio for their current fiscal year is 25.52, and their Forward P/E ratio for the next fiscal year is 17.28. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 1.71. For the stock, the TTM Price-to-Sale (P/S) ratio is 2.06 while its Price-to-Book (P/B) ratio in mrq is 2.36. Its current Enterprise Value per Revenue stands at 0.59 whereas that against EBITDA is 2.86.
Stock Price History:
Over the past 52 weeks, TME has reached a high of $11.80, while it has fallen to a 52-week low of $5.70. The 50-Day Moving Average of the stock is 10.16, while the 200-Day Moving Average is calculated to be 8.08.
Shares Statistics:
According to the various share statistics, TME traded on average about 9.23M shares per day over the past 3-months and 8.44M shares per day over the past 10 days. A total of 721.20M shares are outstanding, with a floating share count of 713.82M. Insiders hold about 1.02% of the company’s shares, while institutions hold 59.22% stake in the company. Shares short for TME as of Mar 15, 2024 were 30.59M with a Short Ratio of 3.32, compared to 24.46M on Feb 15, 2024. Therefore, it implies a Short% of Shares Outstanding of 1.78% and a Short% of Float of 2.13%.
Earnings Estimates
The company has 8 analysts who recommend its stock at the moment. On average, analysts expect EPS of $0.14 for the current quarter, with a high estimate of $0.15 and a low estimate of $0.13, while EPS last year was $0.12. The consensus estimate for the next quarter is $0.15, with high estimates of $0.16 and low estimates of $0.14.
Analysts are recommending an EPS of between $0.66 and $0.54 for the fiscal current year, implying an average EPS of $0.62. EPS for the following year is $0.73, with 18 analysts recommending between $0.82 and $0.63.
Revenue Estimates
According to 10 analysts, the current quarter’s revenue is expected to be $917.61M. It ranges from a high estimate of $1.01B to a low estimate of $900.83M. As of the current estimate, Tencent Music Entertainment Group ADR’s year-ago sales were $980.64M, an estimated decrease of -6.40% from the year-ago figure.
A total of 25 analysts have provided revenue estimates for TME’s current fiscal year. The highest revenue estimate was $4.22B, while the lowest revenue estimate was $3.85B, resulting in an average revenue estimate of $3.96B. In the same quarter a year ago, actual revenue was $3.84B, up 3.40% from the average estimate. Based on 23 analysts’ estimates, the company’s revenue will be $4.44B in the next fiscal year. The high estimate is $4.68B and the low estimate is $4.24B. The average revenue growth estimate for next year is up 12.00% from the average revenue estimate for this year.
