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Is Tencent Music Entertainment Group Sponsored (TME) Stock Outpacing Its Computer and Technology Peers This Year?

Zacks Equity Research

Investors focused on the Computer and Technology space have likely heard of Tencent Music Entertainment Group Sponsored (TME), but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.

Tencent Music Entertainment Group Sponsored is a member of the Computer and Technology sector. This group includes 641 individual stocks and currently holds a Zacks Sector Rank of #4. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. TME is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for TME's full-year earnings has moved 5.88% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

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Based on the latest available data, TME has gained about 38.65% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 20.49% on a year-to-date basis. As we can see, Tencent Music Entertainment Group Sponsored is performing better than its sector in the calendar year.

To break things down more, TME belongs to the Internet - Content industry, a group that includes 20 individual companies and currently sits at #162 in the Zacks Industry Rank. This group has gained an average of 22.48% so far this year, so TME is performing better in this area.

Investors in the Computer and Technology sector will want to keep a close eye on TME as it attempts to continue its solid performance.


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