Wall Street’s most bullish Tencent Music Entertainment Group (NYSE:TME) analysts are predicting the share price to blow past $19 per share during the next 12 months. The current median share price forecast by them is $16.1, suggesting that the stock could increase 23.56% in that time frame. The average price target of $16.27 calls for a nearly 24.87% increase in the stock price.
Tencent Music Entertainment Group (TME) trading activity significantly weakened as the volume at ready counter decreased to 3,988,623 shares. So far this year, the volume has averaged about 5,708,786 shares. The share price rose 0.08% in recent trade and currently has a stock-market value of $20.98B. The shares finished at $13.03, after trading as low as $12.7 earlier in the session. It hit an intraday high Thursday at $13.08. The stock is now 10.33% above against its bear-market low of $11.81.
It had seen a new analyst call from Stifel, which initiated the stock at Hold on January 07. Analysts at Morgan Stanley, started covering the stock on January 07 with a Equal-Weight rating. Analysts at KeyBanc Capital Mkts, made their first call about the stock on January 07, recommending it is Overweight.
When looking at valuations, Tencent Music Entertainment Group (TME) has a pricey P/E of 45.09x as compared to industry average of 36.64x. Also, it is trading at rather expensive levels at just over 3.92x price/book and 8.4x price/sales. Compared to others, Tencent Music Entertainment Group is in a different league with regards to profitability, having net margins of 18.9%. To put some perspective around this, the industry’s average net margin is 3.2%. It’s also very liquid in the near term, with a current ratio of 3. The stock has a debt/capital of 0.