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Tencent Music Entertainment Group [TME] stock Upgrade by Morgan Stanley analyst, price target now $8.50
Tencent Music Entertainment Group [NYSE: TME] stock went on an upward path that rose over 2.24% on Friday, amounting to a one-week price increase of more than 10.95%. The company report on November 22, 2022 that Tencent Music Entertainment Group Announced Performance Report for Its Overseas Service by Tencent Musician Platform.
Tencent Music Entertainment Group ("TME", or the "Company") (NYSE: TME and HKEX: 1698), the leading online music and audio entertainment platform in China, reported the performance for its overseas promotion and distribution service by Tencent Musician Platform. The report demonstrates TME's steadfast efforts in empowering Chinese musicians and their high-quality music, and helping China's music culture extend its reach.
Currently, more Chinese musicians tend to connect with global music fans by distributing their works in overseas markets. The report shows that as of October 2022, nearly 40% of the new releases by Tencent Musicians were proactively distributed across the globe, making the total works of overseas distribution around 185,000. In the first half of 2022, the streams of one single song were up 4,800%, and the highest income increase of Tencent Musician reached 835% from its launch.
Over the last 12 months, TME stock rose by 23.46%. The one-year Tencent Music Entertainment Group stock forecast points to a potential downside of -24.77. The average equity rating for TME stock is currently 2.20, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $13.61 billion, with 1.59 billion shares outstanding and 837.34 million shares in the current float. Compared to the average trading volume of 11.18M shares, TME stock reached a trading volume of 51133177 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru's Opinion on Tencent Music Entertainment Group [TME]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TME shares is $6.58 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TME stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Morgan Stanley have made an estimate for Tencent Music Entertainment Group shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on December 01, 2022. The new note on the price target was released on November 21, 2022, representing the official price target for Tencent Music Entertainment Group stock. Previously, the target price had yet another raise to $7, while The Benchmark Company analysts kept a Buy rating on TME stock.
The Average True Range (ATR) for Tencent Music Entertainment Group is set at 0.47, with the Price to Sales ratio for TME stock in the period of the last 12 months amounting to 3.32. The Price to Book ratio for the last quarter was 1.92, with the Price to Cash per share for the same quarter was set at 0.75. Price to Free Cash Flow for TME in the course of the last twelve months was 16.32 with Quick ratio for the last quarter at 2.10.
TME Stock Performance Analysis:
Tencent Music Entertainment Group [TME] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 10.95. With this latest performance, TME shares gained by 124.32% in over the last four-week period, additionally plugging by 87.02% over the last 6 months – not to mention a rise of 23.46% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TME stock in for the last two-week period is set at 77.88, with the RSI for the last a single of trading hit 80.55, and the three-weeks RSI is set at 75.13 for Tencent Music Entertainment Group [TME]. The present Moving Average for the last 50 days of trading for this stock 4.90, while it was recorded at 7.72 for the last single week of trading, and 4.62 for the last 200 days.
Insight into Tencent Music Entertainment Group Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Tencent Music Entertainment Group [TME] shares currently have an operating margin of +8.70 and a Gross Margin at +29.35. Tencent Music Entertainment Group's Net Margin is presently recorded at +9.69.
Return on Total Capital for TME is now 4.74, given the latest momentum, and Return on Invested Capital for the company is 5.36. Return on Equity for this stock inclined to 5.91, with Return on Assets sitting at 4.47. When it comes to the capital structure of this company, Tencent Music Entertainment Group [TME] has a Total Debt to Total Equity ratio set at 10.81. Additionally, TME Total Debt to Total Capital is recorded at 9.76, with Total Debt to Total Assets ending up at 8.09. Long-Term Debt to Equity for the company is recorded at 10.47, with the Long-Term Debt to Total Capital now at 9.45.
Reflecting on the efficiency of the workforce at the company, Tencent Music Entertainment Group [TME] managed to generate an average of $611,898 per employee. Receivables Turnover for the company is 9.20 with a Total Asset Turnover recorded at a value of 0.46.Tencent Music Entertainment Group's liquidity data is similarly interesting compelling, with a Quick Ratio of 2.10 and a Current Ratio set at 2.10.
TME Stock EPS
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for TME. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Tencent Music Entertainment Group go to -1.87%.
Tencent Music Entertainment Group [TME] Insider Position Details
Positions in Tencent Music Entertainment Group stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 112 institutional holders increased their position in Tencent Music Entertainment Group [NYSE:TME] by around 25,250,724 shares. Additionally, 102 investors decreased positions by around 41,707,362 shares, while 40 investors held positions by with 306,390,384 shares. The mentioned changes placed institutional holdings at 373,348,470 shares, according to the latest SEC report filing. TME stock had 29 new institutional investments in for a total of 10,969,219 shares, while 24 institutional investors sold positions of 8,144,762 shares during the same period.
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