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Tencent Music Entertainment Group Sponsored ADR (TME) Outpaces Stock Market Gains: What You Should Know

Zacks Equity Research
·3-min read

In the latest trading session, Tencent Music Entertainment Group Sponsored ADR (TME) closed at $18.97, marking a +1.93% move from the previous day. This move outpaced the S&P 500's daily gain of 1.09%.

Heading into today, shares of the company had lost 8.6% over the past month, lagging the Computer and Technology sector's gain of 6.99% and the S&P 500's gain of 5.05% in that time.

TME will be looking to display strength as it nears its next earnings release. On that day, TME is projected to report earnings of $0.11 per share, which would represent year-over-year growth of 22.22%. Meanwhile, our latest consensus estimate is calling for revenue of $1.19 billion, up 33.47% from the prior-year quarter.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.47 per share and revenue of $5.35 billion. These totals would mark changes of +4.44% and +25.35%, respectively, from last year.

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Investors might also notice recent changes to analyst estimates for TME. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.29% lower. TME currently has a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that TME has a Forward P/E ratio of 39.76 right now. Its industry sports an average Forward P/E of 37.37, so we one might conclude that TME is trading at a premium comparatively.

Meanwhile, TME's PEG ratio is currently 2.48. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Internet - Content was holding an average PEG ratio of 2.49 at yesterday's closing price.

The Internet - Content industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 222, putting it in the bottom 13% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow TME in the coming trading sessions, be sure to utilize Zacks.com.


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Tencent Music Entertainment Group Sponsored ADR (TME) : Free Stock Analysis Report
 
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