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Tencent Music (TME) in Focus: Stock Moves 5.7% Higher

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Tencent Music Entertainment Group (TME - Free Report) was a big mover last session, as the company saw its shares rise nearly 6% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $11.95 to $13.01 in the past one-month time frame.

The company has seen a mixed track record when it comes to estimate revision of no increase and one decrease over the past few weeks, while the Zacks Consensus Estimate for the current quarter remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.

Tencent Music currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.

Investors interested in the Internet - Content industry may consider a better-ranked stock like SINA Corporation , which 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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