The share price is currently staying around the first support level of $12.79. Below this, the next support is placed in the zone of $12.56. Till the time, the TME stock trades above this level, bulls have nothing to fear. On momentum oscillators front, ‘RSI’ has touched 0 on daily chart, which may remain a cause for comfort. If the price breaks below $12.56 level on closing basis, then we may see more profit booking and the stock may show further weakness. On the flipside, hitting the $13.17 mark may result into a pull-back move towards $13.32 level.
Tencent Music Entertainment Group (TME) is projected to climb by -100 percent over the next 12 months, according to price target estimates compiled by finviz. Meanwhile, they have set a $19price as 12-month high target. This represents a whopping 45.82 percent increase from where shares are trading today. The 12-month median price target assigned by the analysts stands at $16.1, which represents a return potential of 23.56 percent when compared to the closing price of the stock of $13.03 on Thursday, January 10. The lowest price target for the stock is $14 — slightly more than 7.44 percent from TME’s current share price.
Here’s a rundown of insider trading activity for sense of Tencent Music Entertainment Group (NYSE:TME).
TME shares accumulated 0.01 points or 0.08 percent on Thursday to $13.03 with a light trade volume of 3.989 million shares. After opening the session at $12.97, the shares went as high as $13.08 and as low as $12.7, the range within which the stock’s price traded throughout the day. The firm is left with a market cap of $21 billion and now has 1.61 billion shares outstanding. Tencent Music Entertainment Group (TME) stock has lost 0 percent of market value in 21 trading days.
Analysts at Stifel, assumed coverage of Tencent Music Entertainment Group (NYSE:TME) with Hold recommendation, according to their opinion released on January 07.
TME stock has a trailing 3-year beta of 0, offering the possibility of a lower rate of return, but also posing less risk. The portion of a company’s profit allocated to each outstanding share of common stock was $0.29 a share in the trailing twelve months. The stock’s value has fallen -1.44 percent year to date (YTD) against a decline of 0 percent in 12 month’s time. The company’s shares still trade -11.66 percent away from its 1-year high of $14.75 and 10.33 percent up from 52-week low of $11.81. The average consensus rating on the company is 0, on a scale where 5 equates to a unanimous sell rating. In short, the mean analyst recommendations are calling this stock a buy.
Shares of Tencent Music Entertainment Group (TME) are trading at a P/E ratio of 0 times earnings reported for the past 12 months. The industry TME operates in has an average P/E of 36.64. Its P/E ratio went as low as 0X and as high as 0 over the 5-year span. Further, it is sporting a 8.4 on the Price-to-Sales ratio. Compare this with the industry average P/S of 8.42. 39.8 percent is the gross profit margin for Tencent Music Entertainment Group and operating margin sits at 19.6 percent. Along with this, the net profit margin is 18.9 percent.