Music Stocks To Research – November 8th

NetEase, Warner Music Group, and Tencent Music Entertainment Group are the three Music stocks to watch today, according to MarketBeat’s stock screener tool. “Music stocks” are publicly traded shares of companies whose businesses are tied to the music industry, such as record labels, streaming services, concert promoters, or instrument makers. Their performance can be influenced by music-industry trends, though each company’s stock also depends on its finances and broader market conditions. These companies had the highest dollar trading volume of any Music stocks within the last several days.

NetEase (NTES)

NetEase, Inc. engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China and internationally . The company operates through Games and Related Value-Added Services, Youdao, Cloud Music, and Innovative Businesses and Others segments.

Shares of NASDAQ NTES traded up $2.89 during midday trading on Friday, reaching $129.45. 756,386 shares of the stock were exchanged, compared to its average volume of 759,482. The stock has a 50 day moving average price of $119.67 and a 200-day moving average price of $120.89. The company has a market capitalization of $82.88 billion, a P/E ratio of 17.83, a P/E/G ratio of 1.53 and a beta of 0.64. NetEase has a 52-week low of $106.06 and a 52-week high of $149.11.

Warner Music Group (WMG)

Warner Music Group Corp. operates as a music entertainment company in the United States, the United Kingdom, Germany, and internationally. It operates through Recorded Music and Music Publishing segments. The Recorded Music segment is involved in the discovery and development of recording artists, as well as related marketing, promotion, distribution, sale, and licensing of music created by such recording artists; markets its music catalog through compilations and reissuances of previously released music and video titles, as well as previously unreleased materials; and conducts its operation primarily through a collection of record labels, such as Warner Records and Atlantic Records, as well as Asylum, Big Beat, Canvasback, East West, Erato, FFRR, Fueled by Ramen, Nonesuch, Parlophone, Reprise, Roadrunner, Sire, Spinnin’ Records, Warner Classics, and Warner Music Nashville.

WMG stock traded down $0.62 during midday trading on Friday, hitting $31.30. The stock had a trading volume of 1,291,811 shares, compared to its average volume of 2,161,892. The firm has a market cap of $16.37 billion, a PE ratio of 24.84, a price-to-earnings-growth ratio of 0.44 and a beta of 1.34. The company has a debt-to-equity ratio of 4.94, a current ratio of 0.73 and a quick ratio of 0.72. Warner Music Group has a 12-month low of $23.34 and a 12-month high of $35.42. The company’s 50-day moving average price is $29.08 and its 200 day moving average price is $28.62.

Tencent Music Entertainment Group (TME)

Tencent Music Entertainment Group operates online music entertainment platforms to provide music streaming, online karaoke, and live streaming services in the People's Republic of China. It offers QQ Music, Kugou Music, and Kuwo Music that enable users to discover music in personalized ways; long-form audio content, including audiobooks, podcasts and talk shows, as well as music-oriented video content comprising music videos, live performances, and short videos; and WeSing, which enables users to sing along from its library of karaoke songs and share their performances in audio or video formats with friends.

Shares of Tencent Music Entertainment Group stock traded up $0.08 during trading hours on Friday, reaching $9.53. 3,636,789 shares of the company’s stock were exchanged, compared to its average volume of 5,757,921. Tencent Music Entertainment Group has a 52-week low of $7.66 and a 52-week high of $21.91. The firm has a market capitalization of $15.00 billion, a price-to-earnings ratio of 11.76, a price-to-earnings-growth ratio of 1.68 and a beta of 0.76. The company has a fifty day moving average of $8.33 and a 200-day moving average of $10.14. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.13.