Best Music Stocks Worth Watching – November 10th

NetEase, Tencent Music Entertainment Group, Warner Music Group, Dolby Laboratories, and Madison Square Garden Entertainment are the five Music stocks to watch today, according to MarketBeat’s stock screener tool. “Music stocks” are shares in publicly traded companies that earn revenue from the music industry, such as streaming services, record labels, concert promoters, or music-rights owners. Their performance can be influenced by factors such as subscriptions, touring demand, royalty income, and changes in how music is distributed. 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.

NetEase stock traded down $1.79 on Tuesday, hitting $127.86. 636,455 shares of the stock traded hands, compared to its average volume of 838,518. NetEase has a 1 year low of $106.06 and a 1 year high of $149.11. The firm has a market cap of $81.86 billion, a P/E ratio of 17.62, a price-to-earnings-growth ratio of 1.44 and a beta of 0.64. The business’s fifty day simple moving average is $119.80 and its 200 day simple moving average is $120.88.

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 down $0.09 during trading on Tuesday, hitting $9.29. The company’s stock had a trading volume of 2,416,898 shares, compared to its average volume of 8,771,986. Tencent Music Entertainment Group has a 52 week low of $7.66 and a 52 week high of $21.55. The company has a market capitalization of $14.63 billion, a PE ratio of 11.49, a P/E/G ratio of 1.66 and a beta of 0.76. The company has a fifty day simple moving average of $8.34 and a two-hundred day simple moving average of $10.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.74 and a current ratio of 1.74.

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.

NASDAQ:WMG traded down $0.41 during mid-day trading on Tuesday, hitting $31.38. 334,163 shares of the company’s stock were exchanged, compared to its average volume of 2,281,619. The company has a market cap of $16.42 billion, a PE ratio of 24.85, a P/E/G ratio of 0.45 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 one year low of $23.34 and a one year high of $35.42. The business has a fifty day moving average price of $29.15 and a 200 day moving average price of $28.63.

Dolby Laboratories (DLB)

Dolby Laboratories, Inc. creates audio and imaging technologies that transform entertainment at the cinema, DTV transmissions and devices, mobile devices, OTT video and music services, home entertainment devices, and automobiles. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for a range of media applications; AVC, a digital video codec with high bandwidth efficiency used in various media devices; Dolby AC-4, a digital audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for cinema and various media devices.

Shares of Dolby Laboratories stock traded down $0.25 during midday trading on Tuesday, hitting $64.54. The company had a trading volume of 133,507 shares, compared to its average volume of 820,464. The stock has a market capitalization of $6.05 billion, a P/E ratio of 27.46 and a beta of 0.79. The company has a 50 day moving average of $60.77 and a 200 day moving average of $59.38. Dolby Laboratories has a 52-week low of $48.26 and a 52-week high of $69.95.

Madison Square Garden Entertainment (MSGE)

NYSE:MSGE traded down $1.79 on Tuesday, reaching $78.50. 105,139 shares of the stock traded hands, compared to its average volume of 411,854. The company has a market capitalization of $3.18 billion, a price-to-earnings ratio of 38.66 and a beta of 0.56. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 11.80. Madison Square Garden Entertainment has a 12 month low of $44.29 and a 12 month high of $90.41. The company’s fifty day simple moving average is $79.15 and its 200 day simple moving average is $71.00.