Music Stocks To Keep An Eye On – November 6th

NetEase, Tencent Music Entertainment Group, and Warner Music Group are the three Music stocks to watch today, according to MarketBeat’s stock screener tool. “Music stocks” are shares of publicly traded companies that earn revenue from the music industry, such as record labels, music-streaming services, concert promoters, or instrument makers. Investors may buy them to gain exposure to trends in music consumption and live entertainment, but their performance also depends on each company’s 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 NTES stock traded up $3.40 during trading hours on Friday, hitting $129.96. The company had a trading volume of 391,183 shares, compared to its average volume of 838,989. The stock has a market capitalization of $83.21 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 1.44 and a beta of 0.64. NetEase has a fifty-two week low of $106.06 and a fifty-two week high of $149.11. The company’s fifty day moving average is $119.53 and its 200 day moving average is $120.93.

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.

NYSE TME traded up $0.10 during trading hours on Friday, hitting $9.54. 2,137,579 shares of the company were exchanged, compared to its average volume of 8,808,918. The firm has a market cap of $15.02 billion, a price-to-earnings ratio of 11.78, a PEG ratio of 1.66 and a beta of 0.76. The company has a 50 day moving average of $8.31 and a two-hundred day moving average of $10.17. Tencent Music Entertainment Group has a 52-week low of $7.66 and a 52-week high of $21.91. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.13.

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.

Shares of NASDAQ WMG traded down $0.36 during midday trading on Friday, hitting $31.56. 557,451 shares of the company’s stock were exchanged, compared to its average volume of 2,282,621. The firm’s fifty day simple moving average is $29.01 and its 200-day simple moving average is $28.61. Warner Music Group has a twelve month low of $23.34 and a twelve month high of $35.42. The company has a debt-to-equity ratio of 4.94, a current ratio of 0.73 and a quick ratio of 0.72. The company has a market cap of $16.51 billion, a PE ratio of 25.06, a P/E/G ratio of 0.45 and a beta of 1.34.