Previous close | 7.40 |
Open | 7.30 |
Bid | 6.93 x 4000 |
Ask | 7.06 x 2200 |
Day's range | 6.87 - 7.41 |
52-week range | 3.14 - 9.29 |
Volume | |
Avg. volume | 6,127,804 |
Market cap | 11.875B |
Beta (5Y monthly) | 0.80 |
PE ratio (TTM) | 18.70 |
EPS (TTM) | 0.37 |
Earnings date | 14 Aug 2023 - 18 Aug 2023 |
Forward dividend & yield | N/A (N/A) |
Ex-dividend date | N/A |
1y target est | 9.90 |
The mean of analysts' price targets for Tencent Music Entertainment Group Sponsored ADR (TME) points to a 34.6% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.
Tencent Music Entertainment Group Sponsored ADR (TME) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
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Here is your Pro Recap of the biggest analyst picks you may have missed since yesterday: upgrades for Tencent Music, Snap, AppLovin, and Wynn Resorts. Tencent Music Entertainment (NYSE:TME) shares surged more than 8% after the company reported solid Q1 earnings and earned several upgrades, as InvestingPro reported in real time. Macquarie upgraded to Neutral from Underperform and raised its price target to $7.40 from $5.10, highlighting effective diversification and better margins.
(Reuters) -China's Tencent Music Entertainment Group topped quarterly revenue estimates on Tuesday as the Spotify-like music streaming platform benefited from growth in paying users, sending its U.S. shares 9% higher in premarket trading. In a call with analysts in the evening, the company's chief strategy officer said Tencent was working on an array of artificial intelligence (AI) products ranging from a chatbot to a music generation tool, joining the race to tap the powerful technology to spice up product offerings. The Tencent Holdings Ltd-controlled company said total revenue rose 5.4% to 7.00 billion yuan ($1.01 billion) in the first quarter, snapping five consecutive quarters of revenue declines and beating analysts' estimates of 6.86 billion yuan, according to Refinitiv data.
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MPB, CPB and TME made it to the Zacks Rank #1 (Strong Buy) value stocks list on January 19, 2022.
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PNNT, MITSY, TME, RYAM and BROS have been added to the Zacks Rank #1 (Strong Buy) List on January 17, 2022.
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Chinese stocks made a massive move in December amid the country's reopening and a potential end to the tech crackdown.
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