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Tuesday, March 21, 2023

Tencent Music Entertainment Group (NYSE: TME) May Be Attracting Institutional Investments

After Hours

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. After-hours trades for Tencent Music Entertainment Group (TME) shows that investor sentiment remained intact, with the stock’s consolidated last price rising by $0.04, or 0.53%, to $7.57. The Tencent Music Entertainment Group has recorded 276,132 volume in the after hours trading session. Yahoo Finance discussed the stock recently as it posted Tencent Music Entertainment Group to Report Fourth Quarter and Full Year 2022 Financial Results on March 21, 2023 Eastern Time.

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Stocks Info

Tencent Music Entertainment Group is listed on the NYSE as a member of the Communication Services sector and is a part of the Internet Content & Information industry. At the end of the last regular session, the stock closed at $7.53 and fluctuated between $7.62 as its day high and $7.24 as its day low. The current market capitalization of Tencent Music Entertainment Group is $12.61B. A total of 8.0 million shares were traded on the day, compared to an average of 7.68M shares.

Though price targets are rarely accurate, they can exert some influence from time to time and were often accepted as valuable by the market. According to analysts who have offered 12-month price targets for TME in the last 3 months, the mean price target is $62.56 with high estimates of $74.62 and low estimates of $31.86. In terms of 52-week highs and lows, TME has a high of $9.29 and a low of $3.05.

As of this writing, TME has an earnings estimate of $0.13 per share for the current quarter. EPS was calculated based on a consensus of 10 estimates, with a high estimate of $0.14 per share and a lower estimate of $0.12. The company reported an EPS of $0.09 in the last quarter, which was 12.50% higher than expectations of $0.08.

Balance Sheet Annually/Quarterly

A balance sheet is a report that shows the company’s assets and liabilities. In addition, it shows how much equity investors have invested in the company. Investors can determine the company’s prospects by calculating its financial ratios based on this information.

Analysts Opinion

It may be riskier to trade before market opening and after market closing than during regular market hours. Since issuers often announce critical financial information outside regular trading hours. Extended-hours trading may result in wider spreads for particular securities due to lower liquidity and higher volatility. Currently, 29 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for TME is Sell with a score of 4.50. A total of 14 analysts rated the stock as Buy while 5 rated it as Overweight while 8 rated it as Hold. Among the other participants, 0 thought the stock was Underweight and 2 thought it should be Sold.

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