Tencent Music Entertainment Group - ADR
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China is seeing a rise in streaming entertainment—from esports to music streaming—and Tencent (TCHEY) is the biggest beneficiary.
Technology Market Movers on August 27, 2019
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TME Is Down as Its Growth Continues to Slow
Chinese music streaming giant Tencent Music Entertainment (TME) reported its second-quarter earnings results after the closing bell on August 12.
TME Stock Slumps More than 7% in After-Hours Trading
Shares of China’s music streaming giant Tencent Music (TME) were down more than 7.0% after-hours today. But why did they fall after strong earnings results?
Tencent Music Entertainment Stock Rose in June
Tencent shares gained over 13.0% in market value last month. The stock rose 3.4% on July 1, which took the returns to 17.3% in 2019.
Tencent Music Entertainment Slides as China Stocks Trade Lower
In this series, we have seen that TME stock is set to expand revenue and profit margins going forward. The company’s sales are estimated to rise 36.9% in 2019 and 35.3% in 2020. Its earnings per share are also expected to gain over 35.0% annually in the next five years.
How Do Analysts View Tencent Music Entertainment?
Of the 15 analysts tracking Tencent Music Entertainment (TME) stock, eight have given it “buys,” seven have given it “holds,” and none have given it “sells.” Analysts have a 12-month median target price of $17.7 on the stock, which indicates a potential upside of 17.0%.
Why TME’s Revenue Should Continue to Expand in the Long Run
Tencent Music Entertainment (TME) has an expanding total addressable market. The music streaming market in China is estimated to grow from $1.14 billion in 2018 to $6.27 billion in 2023, according to iResearch.
What Are Tencent Music Entertainment’s Key Priorities?
Tencent Music Entertainment managed to increase its subscribers in the double digits across its segments in the first quarter driven by content diversification, partnerships with leading music labels, and the discovery of new and emerging musicians.
What’s Affected Tencent Music Entertainment Stock Recently?
Shares of Tencent Music Entertainment (TME) have risen 14.5% year-to-date. However, the stock has fallen 16.4% since the start of April 2019. In fact, it’s gained 14.3% in market value this month, which means its shares were down nearly 30.0% in April and May.
A Look at Tencent’s Robust Revenue Growth
Tencent Music Entertainment (TME) managed to grow its revenue by 72.0% YoY (year-over-year) to $2.76 billion in 2018. A company’s revenue growth and earnings growth are key drivers of its stock price.
Why Tencent Music Entertainment Stock Is Up Over 14.0% This Month
Tencent Music Entertainment has generated returns of 14.3% in June. Despite its recent rally, it’s fallen 16.4% since April this year. TME is currently trading at $15.13 and is up 14.5% YTD (year-to-date).
Why Tencent Music Entertainment Stock Gained 5.0% on June 10
Shares of Tencent Music Entertainment (TME) gained 5.0% overnight to close trading at $14.30.
Why Tencent Might Be an Attractive Buy at Current Prices
Tencent Music Entertainment (TME) was listed as an ADR (American Depository Receipt) in December 2018.
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Netflix (NFLX) continues to outperform the broader market today. In the first three trading days of 2019, the company’s stock surged about 11.2%.