Tencent Music Entertainment Group ADR (NYSE:TME) shares traded -4.75% lower at $14.45 on Wall Street last session.
TME stock price is now 13.11% away from the 50-day moving average and 55.36% away from the 200-day moving average. The market capitalization of the company currently stands at $10.11B.
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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 2.04% 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. According to the stock market information, the enterprise value for the company is $25349789696, which is based on a 31.22 price-to-earnings ratio, a 1.59 price-to-earnings-growth ratio, and a beta of 0.71. The fifty day moving average price for TME is $12.83 and a two-hundred day moving average price translates $9.3422 for the stock.
The latest earnings results from Tencent Music Entertainment Group ADR (NYSE: TME) was released for 2024-03-31. According to the Internet Content & Information Company, earnings per share came in at 0.14, inline with analysts’ expectations of 0.14. This compares to $0.11 EPS in the same period last year. 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. For the current quarter, analysts expect TME to generate $1B in revenue.
