Tencent Music Entertainment Group (NYSE:TME) Analyst Ratings And Technical Analysis

The stock is lingering around the initial support level of $13.76. After this, the following support is at the zone of $13.56. Up until the time the TME stock hit levels beyond the current one, bulls should have no alarm. In terms of its momentum, the stock’s RSI hit 66.83 on the daily chart, and this may be a cause for concern. In case the price goes below $13.56 level on closing basis, there may be more profit booking with the stock growing weaker. Still, getting to the $14.08 level may cause a pull-back move approaching $14.2 mark.

Tencent Music Entertainment Group (TME) is most likely going to rise 13.59 percent in the coming 12 months, as per price target approximations compiled by finviz. Nevertheless, they have set the price target at a $19 as 12-month high price target. This represents a whopping 36.59 percent increase from the current trading price of shares. The 52-week median price target given by the analysts is $16.1, which means a return possibility of 15.74 percent in comparison with the closing price of the stock of $13.91 in recent trading session. The lowest price set for the stock is $12.4 which is just above -10.86 percent from TME share’s price at the end of session.

In the recent trading session, Tencent Music Entertainment Group (NYSE:TME) shares lost -0.32% or -0.05 points to reach at $13.91 with a thin trading volume of 2.699 million shares. It opened the trading session at $13.82, the shares rose to $14 and dropped to $13.68, the range by which the price of stock traded the whole session. The company now has a market cap of $22.5 billion and currently has 1.61 billion outstanding shares. Tencent Music Entertainment Group (TME) stock has accumulated 22.24 percent of market value in 21 trading days.

Stock analysts at Jefferies, assumed coverage of shares of Tencent Music Entertainment Group (NYSE:TME) with Buy recommendation, according to their opinion released on August 05. Analysts at Credit Suisse downgraded the company stock to a Neutral call from its previous Outperform stance, in a flash note that dated back to March 21.

TME stock’s trailing 3-year beta is 0, meaning there will be a lower rate of return, although posing a lower risk. The part of a firm’s profit given to each outstanding share of regular stock was $0.18 share in the trailing 52 weeks. The stock’s value surged 18.91 percent year to date (YTD) compared to a rise of 12.4 percent in 52 week’s period. The firm’s shares are still trading -30.32 percent below its 1-year high of $19.97 and 23.47 percent up from 52-week low of $11.27. The average consensus ranking on the company is 2.1, on a ranging where 5 is equal to a consensus sell rating. In other words, the mean analyst recommendations are ranking this stock as a sell.

The industry TME deals with has an average P/E of 31.6. Its P/B ratio is standing at X compared to the 6.77 industry average. Tencent Music Entertainment Group has a 34.1% gross profit margin, with its operating margin around 7.7%. Alongside this, the company’s net profit margin currently stands at 8.8%.

Past records have indicated that shares in Tencent Music Entertainment Group declined on 3 different earnings reaction days and we have yet to see whether this trend will play out and remain in place when the company reports upcoming earnings. Investors will get the next hint of TME’s Q4 earnings on March 24. Analysts are predicting revenue to climb 27.9 percent to $999M in the financial fourth quarter, while EPS will soar by about 25 percent to $0.1 per share. In the last quarter, it’s earnings of $0.08492252681764 per share came better than the $0.0839009945878552, adjusted, expected by Thomson Reuters consensus estimate. Revenue for the quarter was $928.21M, topping the $913.59M analysts had expected. Earnings are seen to rise by 38.2 percent this year, 19.7 percent in the coming year and the trend continues by 4.17 percent every year in the next 5 years.