Tencent Music Entertainment Group – (TME) Expected to Announce Earnings of $0.11 Per Share

Wall Street brokerages expect Tencent Music Entertainment Group – (NYSE:TME) to report $0.11 earnings per share for the current quarter, Zacks reports. Three analysts have issued estimates for Tencent Music Entertainment Group’s earnings, with estimates ranging from $0.10 to $0.11. The company is scheduled to report its next quarterly earnings report after the market closes on Monday, May 13th.

According to Zacks, analysts expect that Tencent Music Entertainment Group will report full year earnings of $0.44 per share for the current financial year, with EPS estimates ranging from $0.42 to $0.46. For the next year, analysts anticipate that the business will report earnings of $0.59 per share, with EPS estimates ranging from $0.55 to $0.64. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Tencent Music Entertainment Group.

Tencent Music Entertainment Group (NYSE:TME) last announced its quarterly earnings results on Tuesday, March 19th. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.53. The company had revenue of $5.40 billion during the quarter, compared to the consensus estimate of $5.24 billion. The firm’s revenue was up 50.5% on a year-over-year basis.

A number of analysts have recently commented on TME shares. Goldman Sachs Group started coverage on Tencent Music Entertainment Group in a research note on Sunday, January 6th. They issued a “buy” rating for the company. Deutsche Bank started coverage on Tencent Music Entertainment Group in a research note on Sunday, January 6th. They issued a “hold” rating and a $15.00 price target for the company. Stifel Nicolaus started coverage on Tencent Music Entertainment Group in a research note on Monday, January 7th. They issued a “hold” rating and a $14.00 price target for the company. KeyCorp started coverage on Tencent Music Entertainment Group in a research note on Monday, January 7th. They issued an “overweight” rating and a $19.00 price target for the company. Finally, Morgan Stanley started coverage on Tencent Music Entertainment Group in a research note on Monday, January 7th. They issued an “equal weight” rating for the company. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Tencent Music Entertainment Group has a consensus rating of “Buy” and an average target price of $16.73.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Hound Partners LLC bought a new stake in Tencent Music Entertainment Group during the 4th quarter worth approximately $3,437,000. Hillhouse Capital Advisors Ltd. bought a new stake in Tencent Music Entertainment Group during the 4th quarter worth approximately $19,440,000. Caxton Associates LP bought a new stake in Tencent Music Entertainment Group during the 4th quarter worth approximately $2,115,000. Lord Abbett & CO. LLC bought a new stake in Tencent Music Entertainment Group during the 4th quarter worth approximately $23,169,000. Finally, City Financial Investment Co Ltd bought a new stake in Tencent Music Entertainment Group during the 4th quarter worth approximately $132,000. 5.13% of the stock is owned by institutional investors and hedge funds.

Shares of TME stock opened at $17.66 on Monday. The stock has a market capitalization of $29.41 billion and a PE ratio of 88.30. Tencent Music Entertainment Group has a one year low of $11.81 and a one year high of $19.97.

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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