Tencent Music Entertainment Group (TME - Free Report) was a big mover last session, as the company saw its shares rise more than 5% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This stock, which remained volatile and traded within the range of $12.89–$16.00 in the past one-month time frame, witnessed a sharp increase yesterday.
The company has seen two negative estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few weeks, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.
Tencent Music currently has a Zacks Rank #3 (Hold) while its Earnings ESP is positive.
Tencent Music Entertainment Group Sponsored ADR Price
Investors interested in the Internet – Content industry may consider Changyou.com Limited (CYOU - Free Report) , which has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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