Tencent Music Entertainment Group ADR (NYSE:TME) shares, rose in value on Wednesday, January 22, with the stock price up by 0.45% to the previous day’s close as strong demand from buyers drove the stock to $11.15.
Actively observing the price movement in the last trading, the stock closed the session at $11.10, falling within a range of $10.9537 and $11.24. The value of beta (5-year monthly) was 0.659 whereas the PE ratio was 20.90 over 12-month period. Referring to stock’s 52-week performance, its high was $15.77, and the low was $8.19. On the whole, TME has fluctuated by -5.27% over the past month.
With the market capitalization of Tencent Music Entertainment Group ADR currently standing at about $7.80 billion, investors are eagerly awaiting this quarter’s results, scheduled for in February. The company’s Forward Dividend Ratio is 0.14, with its dividend yield at 1.23%.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 28.27B, with a low estimate of 7.25B and a high estimate of 7.38B. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 7.3B.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that TME’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium-term indicators have put the stock in the category of 50% Sell while long-term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 1.08, with the price of TME currently trading nearly 0.25% and -2.63% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 49.77, while the 7-day volatility ratio is showing 3.70% which for the 30-day chart, stands at 3.12%. Furthermore, Tencent Music Entertainment Group ADR (TME)’s beta value is 0.68, and its average true range (ATR) is 0.42.
A comparison of Tencent Music Entertainment Group ADR (TME) with its peers suggests the former has fared considerably weaker in the market. TME showed an intraday change of 0.45% in last session, and over the past year, it grew by 31.02%%.
Data on historical trading for Tencent Music Entertainment Group ADR (NYSE:TME) indicates that the trading volumes over the past 10 days have averaged 8.17 and over the past 3 months, they’ve averaged 6.75 million. According to company’s latest data on outstanding shares, there are 699.71 million shares outstanding.
Nearly 0.86% of Tencent Music Entertainment Group ADR’s shares belong to company insiders and institutional investors own 68.58% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 16.3 million shares as on 2024-12-31, resulting in a short ratio of 2.5. According to the data, the short interest in Tencent Music Entertainment Group ADR (TME) stood at 228.00 of shares outstanding as of 2024-12-31; the number of short shares registered in 2024-11-29 reached 18.75 million. The stock has fallen by -1.76% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the TME stock heading into the next quarter.
