$0.10 Earnings Per Share Expected for Tencent Music Entertainment Group – (NYSE:TME) This Quarter

Wall Street brokerages expect Tencent Music Entertainment Group – (NYSE:TME) to post earnings of $0.10 per share for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Tencent Music Entertainment Group’s earnings. The highest EPS estimate is $0.11 and the lowest is $0.08. Tencent Music Entertainment Group reported earnings per share of $0.09 during the same quarter last year, which would indicate a positive year over year growth rate of 11.1%. The firm is scheduled to report its next earnings report on Tuesday, March 17th.

On average, analysts expect that Tencent Music Entertainment Group will report full-year earnings of $0.40 per share for the current fiscal year, with EPS estimates ranging from $0.36 to $0.41. For the next financial year, analysts forecast that the business will report earnings of $0.50 per share, with EPS estimates ranging from $0.48 to $0.51. Zacks’ EPS calculations are an average based on a survey of analysts that cover Tencent Music Entertainment Group.

Tencent Music Entertainment Group (NYSE:TME) last issued its quarterly earnings data on Monday, November 11th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.66. Tencent Music Entertainment Group had a return on equity of 6.11% and a net margin of 8.77%. The company had revenue of $6.51 billion during the quarter, compared to the consensus estimate of $6.43 billion. The firm’s revenue for the quarter was up 31.0% compared to the same quarter last year.

A number of equities analysts have recently issued reports on the company. UBS Group upgraded Tencent Music Entertainment Group from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Tuesday, October 8th. Oppenheimer assumed coverage on Tencent Music Entertainment Group in a research report on Monday, July 29th. They set an “outperform” rating and a $18.00 price objective for the company. China Renaissance Securities upgraded Tencent Music Entertainment Group from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. Zacks Investment Research downgraded Tencent Music Entertainment Group from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, KeyCorp lowered their price objective on Tencent Music Entertainment Group from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $16.27.

Shares of TME traded up $0.02 during mid-day trading on Thursday, reaching $12.69. 4,661,104 shares of the company were exchanged, compared to its average volume of 6,160,696. Tencent Music Entertainment Group has a 52 week low of $11.81 and a 52 week high of $19.97. The stock has a market capitalization of $20.69 billion and a PE ratio of 60.33. The business has a 50 day simple moving average of $13.47 and a two-hundred day simple moving average of $14.19.

A number of hedge funds have recently modified their holdings of TME. NEXT Financial Group Inc bought a new stake in Tencent Music Entertainment Group in the second quarter worth approximately $26,000. Harvest Fund Management Co. Ltd bought a new stake in Tencent Music Entertainment Group in the second quarter worth approximately $55,000. Skandinaviska Enskilda Banken AB publ bought a new stake in Tencent Music Entertainment Group in the second quarter worth approximately $60,000. Quadrant Capital Group LLC increased its holdings in Tencent Music Entertainment Group by 72.1% in the third quarter. Quadrant Capital Group LLC now owns 5,024 shares of the company’s stock worth $63,000 after purchasing an additional 2,105 shares in the last quarter. Finally, Bradley Foster & Sargent Inc. CT bought a new stake in Tencent Music Entertainment Group in the third quarter worth approximately $128,000. Institutional investors and hedge funds own 9.69% of the company’s stock.

Tencent Music Entertainment Group Company Profile

Tencent Music Entertainment Group operates an online music entertainment platform that provides online music and music-centric social entertainment services in China. It offers QQ Music, Kugou Music, and Kuwo Music that enable users to discover and listen to music in personalized ways; and WeSing, which enables users to have fun by singing and interacting with friends, sharing their singing performances with friends, and discovering songs that others have sung.

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Earnings History and Estimates for Tencent Music Entertainment Group (NYSE:TME)

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