Tencent Music Entertainment Group ADR (NYSE:TME) shares traded -5.45% lower at $10.92 on Wall Street last session.
TME stock price is now -4.38% away from the 50-day moving average and -10.20% away from the 200-day moving average. The market capitalization of the company currently stands at $7.64B.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
With the price target of $16, Barclays recently initiated with Overweight rating for Tencent Music Entertainment Group ADR (NYSE: TME). On November 04, 2024, Bernstein recently initiated its ‘Outperform’ rating on the stock quoting a target price of $14, while ‘Morgan Stanley’ rates the stock as ‘Equal-Weight’
A total of 1.52% of the company’s stock is owned by insiders.
During the past 12 months, Tencent Music Entertainment Group ADR has had a low of $6.76 and a high of $15.77. As of last week, the company has a debt-to-equity ratio of 0.09, a current ratio of 2.26, and a quick ratio of 2.26. According to the stock market information, the enterprise value for the company is $16868687872, which is based on a 20.47 price-to-earnings ratio, a 1.01 price-to-earnings-growth ratio, and a beta of 0.68. The fifty day moving average price for TME is $11.409 and a two-hundred day moving average price translates $12.15135 for the stock.
The latest earnings results from Tencent Music Entertainment Group ADR (NYSE: TME) was released for 2024-06-30. The net profit margin was 21.53% and return on equity was 10.12% for TME. The company reported revenue of $985.0 million for the quarter, compared to $1.0 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -1.99 percent.
