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 reverses the recent trend for the company—as the stock is now down 7.5% in the past one-month time frame.
The company has seen two positive estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved higher over the past few weeks, suggesting that more solid trading could be ahead for Tencent Music. So make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.
Tencent Music currently has a Zacks Rank #3 (Hold) while its Earnings ESP is positive.
Tencent Music Entertainment Group Sponsored ADR Price
A better-ranked stock in the Internet – Content industry is TechTarget, Inc. (TTGT - Free Report) , which currently carries 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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