Top Music Stocks Worth Watching – November 7th

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 shares of publicly traded companies whose businesses are tied to the music industry, such as record labels, streaming services, concert promoters, or musical-instrument makers. Investors may buy them to gain exposure to music-related revenues, though 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 NASDAQ:NTES traded up $2.89 during trading on Friday, reaching $129.45. The stock had a trading volume of 756,386 shares, compared to its average volume of 676,158. The firm’s 50-day simple moving average is $119.67 and its 200 day simple moving average is $120.89. The company has a market capitalization of $82.88 billion, a P/E ratio of 17.83, a PEG ratio of 1.37 and a beta of 0.64. NetEase has a one year low of $106.06 and a one year 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.

Shares of WMG stock traded down $0.62 on Friday, hitting $31.30. The company had a trading volume of 1,291,811 shares, compared to its average volume of 2,255,112. The firm has a market cap of $16.37 billion, a P/E ratio of 24.84, a price-to-earnings-growth ratio of 0.43 and a beta of 1.34. The company has a quick ratio of 0.72, a current ratio of 0.73 and a debt-to-equity ratio of 4.94. The company has a 50-day moving average price of $29.08 and a 200-day moving average price of $28.62. Warner Music Group has a twelve month low of $23.34 and a twelve month high of $35.42.

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 $0.08 during trading hours on Friday, hitting $9.53. 3,636,789 shares of the stock were exchanged, compared to its average volume of 5,051,462. Tencent Music Entertainment Group has a 52-week low of $7.66 and a 52-week high of $21.91. The firm’s fifty day moving average price is $8.33 and its 200 day moving average price is $10.14. The company has a market cap of $15.00 billion, a P/E ratio of 11.76, a P/E/G ratio of 1.56 and a beta of 0.76. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.13.