Top Music Stocks To Watch Today – November 3rd

NetEase, Tencent Music Entertainment Group, Warner Music Group, Madison Square Garden Entertainment, and Dolby Laboratories are the five Music stocks to watch today, according to MarketBeat’s stock screener tool. “Music stocks” are shares of publicly traded companies whose businesses are connected to the music industry, such as record labels, music-streaming platforms, concert promoters, instrument manufacturers, or music-technology firms. Investors may buy these stocks to gain exposure to trends such as streaming growth, live events, artist catalogs, and digital music services. 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 traded up $0.76 during trading hours on Tuesday, hitting $116.25. 334,432 shares of the company were exchanged, compared to its average volume of 835,594. NetEase has a one year low of $106.06 and a one year high of $149.11. The company has a market capitalization of $74.43 billion, a PE ratio of 15.99, a PEG ratio of 1.32 and a beta of 0.68. The firm has a fifty day simple moving average of $119.75 and a 200-day simple moving average of $121.18.

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 TME stock traded up $0.06 during trading hours on Tuesday, reaching $8.96. 3,005,073 shares of the stock traded hands, compared to its average volume of 8,816,484. The business has a fifty day moving average price of $8.27 and a 200 day moving average price of $10.29. The firm has a market capitalization of $14.11 billion, a PE ratio of 11.07, a PEG ratio of 1.46 and a beta of 0.78. Tencent Music Entertainment Group has a 1-year low of $7.66 and a 1-year high of $23.00. 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.

NASDAQ:WMG traded up $0.19 during trading hours on Tuesday, hitting $31.16. 608,657 shares of the company’s stock traded hands, compared to its average volume of 2,290,246. The stock’s fifty day moving average price is $28.78 and its two-hundred day moving average price is $28.60. The firm has a market cap of $16.30 billion, a P/E ratio of 24.74, a P/E/G ratio of 0.41 and a beta of 1.40. The company has a debt-to-equity ratio of 4.94, a quick ratio of 0.72 and a current ratio of 0.73. Warner Music Group has a twelve month low of $23.34 and a twelve month high of $35.42.

Madison Square Garden Entertainment (MSGE)

Shares of Madison Square Garden Entertainment stock traded up $1.68 during trading on Tuesday, hitting $81.08. 151,606 shares of the stock traded hands, compared to its average volume of 409,131. The company has a fifty day moving average price of $79.23 and a two-hundred day moving average price of $70.52. Madison Square Garden Entertainment has a twelve month low of $43.33 and a twelve month high of $90.41. The stock has a market cap of $3.29 billion, a P/E ratio of 58.86 and a beta of 0.55. The company has a debt-to-equity ratio of 11.80, a quick ratio of 0.70 and a current ratio of 0.70.

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 DLB traded up $0.45 during trading hours on Tuesday, hitting $63.73. 130,840 shares of the company were exchanged, compared to its average volume of 824,172. The firm’s 50 day moving average is $60.74 and its 200-day moving average is $59.33. Dolby Laboratories has a 52 week low of $48.26 and a 52 week high of $69.95. The company has a market cap of $5.97 billion, a PE ratio of 27.12 and a beta of 0.78.