While Tencent Music Entertainment Group ADR has overperformed by 5.81%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, TME rose by 99.84%, with highs and lows ranging from $15.77 to $6.09, whereas the simple moving average jumped by 9.29% in the last 200 days.
On September 25, 2024, Morgan Stanley Downgraded Tencent Music Entertainment Group ADR (NYSE: TME) to Equal-Weight. A report published by Daiwa Securities on August 13, 2024, Downgraded its rating to ‘Neutral’ for TME. Goldman also Upgraded TME shares as ‘Buy’, setting a target price of $14 on the company’s shares in a report dated March 20, 2024. Citigroup March 20, 2024d the rating to Buy on March 20, 2024, and set its price target from $9 to $13. Redburn Atlantic initiated its ‘Buy’ rating for TME, as published in its report on February 05, 2024. CLSA’s report from February 05, 2024 suggests a price prediction of $10.50 for TME shares, giving the stock a ‘Outperform’ rating. UBS also rated the stock as ‘Buy’.
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Analysis of Tencent Music Entertainment Group ADR (TME)
The current dividend for TME investors is set at $0.14 per share, indicating investors will get a return regardless of how the company performs over the next quarter. Further, the quarter-over-quarter decrease in sales is -4.74%, showing a negative trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of Tencent Music Entertainment Group ADR’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of 9.77% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 2.34, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
As an indicator of volatility for any stock, average volume can also be very valuable, and TME is recording an average volume of 9.84M. On a monthly basis, the volatility of the stock is set at 4.53%, whereas on a weekly basis, it is put at 7.61%, with a gain of 7.59% over the past seven days. Furthermore, long-term investors anticipate a median target price of $14.53, showing growth from the present price of $12.75, which can serve as yet another indication of whether TME is worth investing in or should be passed over.
How Do You Analyze Tencent Music Entertainment Group ADR Shares?
Tencent Music Entertainment Group ADR (TME) is based in the China and is one of the most prominent companies operating in the Internet Content & Information market. When comparing Tencent Music Entertainment Group ADR shares with other companies under Communication Services, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 25.80, there is a growth in quarterly earnings of 26.82%.
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 1.52%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 64.76% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
TME shares are owned by institutional investors to the tune of 64.76% at present.
