Tencent Music Entertainment Group (TME) Stock Forecast & Predictions

Tencent Music Entertainment Group - ADR TME: $18.04

Nanshan District, Shenzhen, Guangdong, China (Mainland). | Sector: Information | Exchange: NEW YORK STOCK EXCHANGE, INC. | Web: https://www.tencentmusic.com/

  • Market Cap$30.26B
  • Change (52 Weeks)65.66%
  • Low (52 Weeks)$10.3
  • Tencent Music Entertainment Group (TME) Forecast Based on Technical Analysis


    Neutral
    Based on 15 Technical Indicators where 20.00% are on Buy, 26.67% on Sell, and 53.33% Neutral.

    According to the market data, Tencent Music Entertainment Group (TME) stock price is $18.04 and the 52 weeks low is $10.3, which means the Tencent Music Entertainment Group stock price is up 65.66% in the last 12 months.

    Tencent Music Entertainment Group (TME) Stock Price has been Trending Strongly with an ADX reading of 36.37 as per the Weekly Chart.

    A Upward trend indicates that Tencent Music Entertainment Group (TME) Stock Price may keep going up, with temporary Retracement (the process of stock price bouncing because of short term profit taking by the traders and investors).

    Technical Indicators are algorithms that are used mostly by Technical traders to predict the price action of a stock.

    Based on our analysis of 15 technical indicators, 20.00% are indicating that TME Stock price might rise further, 26.67% indicating that TME Stock price might fall, and 53.33% are in a neutral position.

    Based on these technical algorithms, overall TME stock price has a Neutral Signal, which means the stock price has the potential to move either up or down, depending on the nature of consolidating market phase, since majority of indicators are providing a neutral signal.

    Tencent Music Entertainment Group (TME) Stock Forecast By Analysts


    Strong Buy
    Analysts Recommendations for Tencent Music Entertainment Group (TME) is based on 28 Institutional Analyst Ratings where 42.86% are on Strong Buy, 25.00% on Moderate Buy, 32.14% remains on Hold, 0.00% are on Moderate Sell and 0.00% are on Strong Sell.

    Out of 28 Institutional Analysts, majority recommended TME stock as Strong Buy. Since most investors and traders follow analyst ratings closely, this can be a potentially driving factor for the future stock price of Tencent Music Entertainment Group.

    Tencent Music Entertainment Group (TME) Stock Price Prediction By Analysts


    HighLowAverage
    $39.90$20.20$30.42
    $30.4268.61% Upside
    Updated: 2021-04-12 00:00:00

    The Average Price target for TME set by the institutional analysts is $30.42 where High Estimate is $39.90, Median $29.9574 and Low $20.20.

    The average price target for TME by Institutional Analysts is $30.42, which is 68.61% Upside from the current price. So according to the Institutional Analysts, TME Stock might be a bit undervalued at this stage and there’s potential for upside.

    However, although Institutional Analysts set their price targets after extensive research, they’re not always correct. After all, the market is mostly driven by investors speculation and emotion than just concrete numbers.

    Tencent Music Entertainment Group (TME) Stock Forecast Based on Investor Sentiment


    Very Positive

    Based on 384,627 investor portfolio.

    Our algorithm has analysed 384,627 investor portfolio with TME stock holdings and found that 99.50% of them are bullish. Which means the Investor Sentiment is mostly Very Positive.

    This shows most investors are very optimistic about TME and holding their positions hoping for a further rise in the stock price and more profit.

    Tencent Music Entertainment Group (TME) Stock Forecast Based on News Sentiment


    Bullish
    Based on 6 articles published Last Week, where 100.00% are Bullish and 0.00% are Bearish.

    According to the news articles published last week, most journalists and bloggers talked positively about TME, it shows that Tencent Music Entertainment Group had a 100.00% positive news coverage.

    Positive news coverage usually affects short-term price of a stock, so this positive coverage provides an indication that TME stock price may surge in the next few weeks.

    Tencent Music Entertainment Group (TME) Stock Forecasts By Institutional Analysts


    Analyst
    Recommendation
    Action
    China RenaissanceHoldDowngraded
    NeedhamBuyMaintained
    NeedhamBuyInitiated
    B of A SecuritiesBuyMaintained
    UBSNeutralMaintained
    Morgan StanleyOverweightUpgraded
    OppenheimerPerformDowngraded
    KeyBancSector WeightDowngraded
    CCB InternationalNeutralDowngraded
    BOCOM InternationalSellDowngraded
    New StreetBuyInitiated
    China RenaissanceBuyUpgraded
    KeyBancOverweightMaintained
    Bank of AmericaBuyReiterated
    JefferiesBuyInitiated
    OppenheimerOutperformInitiated
    Loop CapitalBuyInitiated
    China RenaissanceHoldInitiated
    Credit SuisseNeutralDowngraded
    Bank of AmericaBuyReiterated
    MacquarieOutperformInitiated
    HSBCBuyInitiated
    JP MorganOverweightInitiated
    KeyBancOverweightInitiated
    Bank of AmericaBuyInitiated

    Tencent Music Entertainment Group (TME) Stock Earning Per Share (EPS) Forecast / Estimate


    $0.816
    The average consensus EPS for TME is $0.816 with a high estimate of $1.145 and Low of $0.676 for the period 2021-06-30 and based on 14 Institutional Analysts.

    Last Quarter


    Actual
    Estimate
    Date
    $0.8$0.7159892020-09-30


    The latest average Earning Per Share Estimate for Tencent Music Entertainment Group is $0.82, which is higher than TME's last EPS, $0.80. This means that Analysts are expecting Tencent Music Entertainment Group to report higher earnings. This can drive share prices higher since the investors have positive sentiment about market performance of Tencent Music Entertainment Group.

    Earning Per Share (EPS) History


    Actual
    Estimate
    Date
    $0.8$0.7159892020-09-30
    $0.69$0.65749989999999992020-06-30
    $0.66$0.63398712020-03-31
    $0.8$0.70249540000000012019-12-31
    $0.74$0.66525672019-09-30
    $0.67$0.61606972019-06-30
    $0.72$0.69450632019-03-31
    $0.57$0.58086112018-12-31

    What is Analyst Ratings & Price Targets?

    The analysts provide Buy, Sell or Hold ratings after extensive research of a companies financial reports, listening to conference calls and some of them even get in contact with upper management of the company to get an overall picture of operation.

    Although institutional Analyst’s are not always correct, their ratings are followed by millions of traders around the world and they can heavily influence trading activities for a company.

    As a retail investor, going through analyst ratings will instantly provide you an idea if the stock is worth buying. Top Analysts also provide their price targets. It’s a prediction of where the stock price might go based on their analysis.

    The best way to analyze price targets is to combined average price targets of major analysts. If the average price target is much higher than the current price of the stock, then the probability of a stock going up is also high.

    What is Technical Analysis?

    Technical Analysis refers to analyzing a stock's price over a period of time. In the financial market, past price patterns are one of the strongest indicators of an asset's future performance.

    In easier terms, millions of traders use Live Charts to watch the stock prices, it is actually a single source of truth for most traders. When a stock's price reaches a significant price level/pattern in the chart, millions of traders take buy/sell positions from those levels.

    As a regular investor, one of the easiest ways to check technical analysis of a stock is through Technical Indicators. Technical Indicators are programmed algorithms that monitor price changes in the Charts and indicate Buy/Sell based on market conditions.

    Some Technical Indicators can be very powerful (e.g SMA) and some can be pretty useless. Stock research tools like iTradely heavily simplify the technical analysis process for the investors by showing Buy/Sell/Neutral ratings combined from 17 powerful technical indicators, all in one page.

    What is Earnings Per Share (EPS) and Why is it Important?

    EPS, or Earning Per Share, can tell a lot about a stock’s performance. It’s calculated by dividing a company’s profit by the number of outstanding shares of its common stocks.

    In layman’s term, earnings is an indicator of a company’s profitability. Higher the earnings, the more profitable a company is.
    Some traders pick stocks solely based on EPS or earnings Analysis, it is a very powerful indicator of a stock’s price.

    Before you buy a stock, check the company’s earnings History and Surprises. A Surprise happens when a company reports a much higher or lower actual earnings/EPS than the forecasted earnings/EPS.

    If a company reports higher EPS surprises consistently, analysts keep raising their estimates, traders become more confident in the company, driving the share price higher.

    What is Stock Sentiment?

    Stock Sentiment refers to how people speculating about the stock or what kind of trading position investors are often taking.

    There are different kinds of sentiments you can find online for a company, this includes Investor Sentiment (Percentage of investors buying or selling), News Sentiment (Is the company getting positive or negative impressions from the Press?), Social Sentiment (The overall trends about the company in social media, is it negative or positive?).