Tencent Music Entertainment Group ADR [TME] stock is trading at $10.65, up 2.90%. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The TME shares have gain 12.58% over the last week, with a monthly amount glided 10.13%, and seem to be holding up well over a long-time horizon.
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On 20, February 2024, Tencent Music Entertainment Group to Report Fourth Quarter and Full Year 2023 Financial Results on March 19, 2024. In a post published today on Yahoo Finance, Tencent Music Entertainment Group (“TME”, or the “Company”) (NYSE: TME and HKEX: 1698), the leading online music and audio entertainment platform in China, today announced that it will report its unaudited financial results for the fourth quarter and full year of 2023 before the U.S. market opens on Tuesday, March 19, 2024.
From an analyst’s perspective:
Tencent Music Entertainment Group ADR [NYSE: TME] stock has seen the most recent analyst activity on February 05, 2024, when Redburn Atlantic initiated its Buy rating and assigned the stock a price target of $12. Previously, CLSA started tracking the stock with Outperform rating on February 05, 2024, and set its price target to $10.50. On January 24, 2024, upgrade upgraded it’s rating to Buy but maintained its price target of $10.50 on the stock. JP Morgan upgraded its rating to a Overweight. Citigroup downgraded its rating to a Neutral and reduced its price target to $7.50 on July 31, 2023. JP Morgan downgraded its rating to Neutral for this stock on July 26, 2023, but kept the price target unchanged to $7.50. In a note dated May 17, 2023, Macquarie upgraded an Neutral rating on this stock and boosted its target price from $5.10 to $7.40.
Tencent Music Entertainment Group ADR [TME] stock has fluctuated between $5.70 and $10.82 over the past year. Currently, Wall Street analysts expect the stock to reach $13.46 within the next 12 months. Tencent Music Entertainment Group ADR [NYSE: TME] shares were valued at $10.65 at the most recent close of the market. An investor can expect a potential return of 26.38% based on the average TME price forecast.
Analyzing the TME fundamentals
Tencent Music Entertainment Group ADR [NYSE:TME] reported sales of 4.01B for the trailing twelve months, which represents a drop of -15.65%. Gross Profit Margin for this corporation currently stands at 0.34% with Operating Profit Margin at 0.2%, Pretax Profit Margin comes in at 0.2%, and Net Profit Margin reading is 0.17%. To continue investigating profitability, this company’s Return on Assets is posted at 0.07, Equity is 0.09 and Total Capital is 0.09. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.11.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 10.36 points at the first support level, and at 10.07 for the second support level. However, for the 1st resistance point, the stock is sitting at 10.80, and for the 2nd resistance point, it is at 10.95.
Tencent Music Entertainment Group ADR [TME] reported earnings per share of $0.12 for its fiscal quarter that ended on 9/29/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.12/share, meaning a difference of $0 and a surprise factor of 0.00%. By comparison, the stated earnings for the previous quarter ended on 6/29/2023 were $0.14 per share as compared to estimates of $0.14 per share, a difference of $0 representing a surprise of 0.00%.
Ratios To Look Out For
For context, Tencent Music Entertainment Group ADR’s Current Ratio is 2.46. As well, the Quick Ratio is 2.46, while the Cash Ratio is 1.08. Considering the valuation of this stock, the price to sales ratio is 1.85, the price to book ratio is 2.24 and price to earnings (TTM) ratio is 25.02.
