At the time of writing, Tencent Music Entertainment Group ADR [TME] stock is trading at $10.73, up 0.28%. An important factor to consider is whether the stock is rising or falling in short-term value. The TME shares have gain 3.37% over the last week, with a monthly amount drifted -23.30%, and not seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Tencent Music Entertainment Group ADR [NYSE: TME] stock has seen the most recent analyst activity on August 13, 2024, when Daiwa Securities downgraded its rating to a Neutral. Previously, Goldman upgraded its rating to Buy on March 20, 2024, and kept the price target unchanged to $14. On March 20, 2024, upgrade upgraded it’s rating to Buy and revised its price target to $13 on the stock. Redburn Atlantic started tracking the stock assigning a Buy rating and suggested a price target of $12 on February 05, 2024. CLSA initiated its recommendation with a Outperform and recommended $10.50 as its price target on February 05, 2024. UBS upgraded its rating to Buy for this stock on January 24, 2024, but kept the price target unchanged to $10.50. In a note dated November 16, 2023, JP Morgan upgraded an Overweight rating on this stock.
For the past year, the stock price of Tencent Music Entertainment Group ADR fluctuated between $5.96 and $15.77. Currently, Wall Street analysts expect the stock to reach $14.68 within the next 12 months. Tencent Music Entertainment Group ADR [NYSE: TME] shares were valued at $10.73 at the most recent close of the market. An investor can expect a potential return of 36.81% based on the average TME price forecast.
Analyzing the TME fundamentals
According to Tencent Music Entertainment Group ADR [NYSE:TME], the company’s sales were 3.79B for trailing twelve months, which represents an -4.74% plunge. Gross Profit Margin for this corporation currently stands at 0.37% with Operating Profit Margin at 0.24%, Pretax Profit Margin comes in at 0.24%, and Net Profit Margin reading is 0.19%. To continue investigating profitability, this company’s Return on Assets is posted at 0.07, Equity is 0.09 and Total Capital is 0.1. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.1.
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 10.61 points at the first support level, and at 10.49 for the second support level. However, for the 1st resistance point, the stock is sitting at 10.94, and for the 2nd resistance point, it is at 11.15.
Ratios To Look Out For
It is important to note that Tencent Music Entertainment Group ADR [NYSE:TME] has a current ratio of 2.34. On the other hand, the Quick Ratio is 2.34, and the Cash Ratio is 0.84. Considering the valuation of this stock, the price to sales ratio is 1.98, the price to book ratio is 1.95 and price to earnings (TTM) ratio is 21.71.
