The price of Tencent Music Entertainment Group ADR (NYSE:TME) shares last traded on Wall Street fell -0.45% to $15.42.
TME stock price is now 28.75% away from the 50-day moving average and 73.04% away from the 200-day moving average. The market capitalization of the company currently stands at $10.79B.
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With the price target maintained at $14, Goldman recently Upgraded its rating from Neutral to Buy for Tencent Music Entertainment Group ADR (NYSE: TME). On March 20, 2024, Citigroup Upgraded its previous ‘Neutral’ rating to ‘Buy’ on the stock increasing its target price from $9 to quote $13, while ‘Redburn Atlantic’ rates the stock as ‘Buy’
A total of 1.02% of the company’s stock is owned by insiders.
During the past 12 months, Tencent Music Entertainment Group ADR has had a low of $5.70 and a high of $15.77. As of last week, the company has a debt-to-equity ratio of 0.10, a current ratio of 2.67, and a quick ratio of 2.67.
The net profit margin was 18.87% and return on equity was 9.27% for TME. The company reported revenue of $937.0 million for the quarter, compared to $1.02 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -8.14 percent.
Tencent Music Entertainment Group ADR(TME) Company Profile
Tencent Music Entertainment Group operates online music entertainment platforms to provide music streaming, online karaoke, and live streaming services in the People’s Republic of China. It offers QQ Music, Kugou Music, and Kuwo Music that enable users to discover music in personalized ways; long-form audio content, including audiobooks, podcasts and talk shows, as well as music-oriented video content comprising music videos, live performances, and short videos; and WeSing, which enables users to sing along from its library of karaoke songs and share their performances in audio or video formats with friends. The company also delivers music-centric live streaming services primarily through the Live Streaming tab on QQ Music, Kugou Music, Kuwo Music, WeSing, Kugou Live, and Kuwo Live that provides an interactive online stage for performers and users to showcase their talent and engage with a diverse audience base; and Lazy Audio, an audio platform. In addition, it sells music-related merchandise; and artist-related merchandise, such as branded apparel, posters and art prints, and accessories and integrated and technology-driven music solutions that help IoT device manufacturers build and operate their branded music services on their IoT devices, as well as offers advertising services across its online karaoke platform and online music apps. The company is headquartered in Shenzhen, China. Tencent Music Entertainment Group is a subsidiary of Tencent Holdings Limited.
