|Bid||14.23 x 4000|
|Ask||14.45 x 3000|
|Day's Range||14.25 - 14.75|
|52 Week Range||11.81 - 19.97|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||44.32|
|Earnings Date||Aug 12, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||17.69|
(Bloomberg) -- Chinese video-game live-streaming platform DouYu International Holdings Ltd. ended flat in its trading debut after its $775 million U.S. initial public offering.Shares of the company, backed by Tencent Holdings Ltd., closed their first day of trading Wednesday at $11.50, the same price as when they were sold in its IPO on Tuesday.DouYu, which delayed its listing amid market jitters in May, sold 44.9 million American depository shares and its investors sold another 22.5 million. The shares, which which had been priced at the bottom of the marketed range, opened down 4.2% and never rose more than 0.4% on Wednesday.The offering, which valued DouYu at $3.73 billion, was the biggest cross-border listing from China since Tencent Music Entertainment Group raised $1.07 billion in its U.S. IPO in December.DouYu, one of China’s top two video-game live-streaming platforms, initially planned to start its IPO roadshow in May but postponed it following President Donald Trump’s threat to boost tariffs on China, people familiar with the matter said at the time. The Wuhan-based company had filed for its IPO on April 22, almost a year after its biggest competitor, Huya Inc., went public in the U.S.DouYu had net income of $2.7 million on revenue of $222 million in the first quarter, according to its filings with the U.S. Securities and Exchange Commission. That compared with a loss of about $23 million on revenue of $97 million during the same period last year.Existing investors that sold shares in the IPO included Aodong Investments and Co-Chief Executive Officer and co-founder Zhang Wenming, according to the company’s filings.Morgan Stanley, JPMorgan Chase & Co., Bank of America Corp. and CMB International Capital Ltd. led the offering. The shares are trading on the Nasdaq Global Select Market under the symbol DOYU.(Updates with closing share price in second paragraph)\--With assistance from Crystal Tse.To contact the reporters on this story: Michael Hytha in San Francisco at firstname.lastname@example.org;Yueqi Yang in New York at email@example.comTo contact the editors responsible for this story: Polina Noskova at firstname.lastname@example.org, ;Liana Baker at email@example.com, Michael Hytha, Matthew MonksFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
SHENZHEN, China , July 17, 2019 /PRNewswire/ -- Tencent Music Entertainment Group (" Tencent Music", "TME", or the "Company") (NYSE: TME), the leading online music entertainment ...
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.
Stocks in the sector, including well-known names like Alibaba, Tencent, and Baidu, are likely to perform very differently as the outlooks for different market corners diverge, JPMorgan says.
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%.
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.
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.
The music streaming industry, like any other, depends on repeat purchases for sustainability. TME’s subscription model ensures repeat purchases, but the company needs to engage customers to stop them from switching to rival services.
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.
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.
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.
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% year-to-date.
Legendary investors such as Jeffrey Talpins and Seth Klarman earn enormous amounts of money for themselves and their investors by doing in-depth research on small-cap stocks that big brokerage houses don't publish. Small cap stocks -especially when they are screened well- can generate substantial outperformance versus a boring index fund. That's why we analyze the […]
These Tech Stocks Gained Over 5.0% on June 10(Continued from Prior Part)TME reboundedShares of Tencent Music Entertainment (TME) gained 5.0% overnight to close trading at $14.30. While there was no news about the company, the stock likely rebounded
Read the beginning of this article here. During the first quarter of 2019, Keywise Capital Management initiated five long positions, with the biggest one in NVIDIA Corporation (NASDAQ:NVDA). This is a Santa Clara-based technology company that designs graphics processing units and system on a chip units for various industries. It has a market cap of […]
How China's Tech Stocks Have Performed since Start of May(Continued from Prior Part)TME metricsTencent Music Entertainment (TME) was listed as an ADR (American Depository Receipt) in December 2018. The stock closed trading at $14.0 on December 12,
Paycom, ServiceNow, Upland Software, Kirkland Lake Gold, Workday, and PagSeguro are among 20 of the fastest-growing companies in terms of EPS growth.
ByteDance expects to introduce the new app as early as this fall in a handful of territories, mostly poorer countries where paid music services have yet to garner large audiences, said the people, who asked not to be identified because the plans haven’t been announced. The company has already secured rights from T-Series and Times Music, two of India’s largest labels, according to executives with those companies. While the new app isn’t named after TikTok, ByteDance will try to convert some of TikTok’s audience into paying customers, the people said.