Brokerages Expect Tencent Music Entertainment Group – (TME) to Post $0.06 EPS

Analysts predict that Tencent Music Entertainment Group – (NYSE:TME) will announce earnings per share (EPS) of $0.06 for the current quarter, Zacks reports. Three analysts have made estimates for Tencent Music Entertainment Group’s earnings. The lowest EPS estimate is $0.04 and the highest is $0.08. The firm is scheduled to announce its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Tencent Music Entertainment Group will report full-year earnings of $0.37 per share for the current fiscal year, with EPS estimates ranging from $0.34 to $0.40. For the next year, analysts forecast that the company will post earnings of $0.42 per share, with EPS estimates ranging from $0.40 to $0.43. Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow Tencent Music Entertainment Group.

TME has been the topic of several research analyst reports. HSBC initiated coverage on shares of Tencent Music Entertainment Group in a research report on Thursday, January 17th. They set a “buy” rating and a $16.00 price target on the stock. KeyCorp initiated coverage on shares of Tencent Music Entertainment Group in a research report on Monday, January 7th. They set an “overweight” rating and a $19.00 price target on the stock. JPMorgan Chase & Co. initiated coverage on shares of Tencent Music Entertainment Group in a research report on Wednesday, January 16th. They set an “overweight” rating and a $16.00 price target on the stock. Macquarie initiated coverage on shares of Tencent Music Entertainment Group in a research report on Tuesday, February 12th. They set an “outperform” rating and a $15.03 price target on the stock. Finally, Morgan Stanley initiated coverage on shares of Tencent Music Entertainment Group in a research report on Monday, January 7th. They set an “equal weight” rating on the stock. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $15.54.

Shares of TME stock traded down $0.82 during trading hours on Wednesday, hitting $16.17. 6,854,844 shares of the company were exchanged, compared to its average volume of 5,903,673. Tencent Music Entertainment Group has a one year low of $11.81 and a one year high of $17.38.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Commonwealth Bank of Australia acquired a new stake in Tencent Music Entertainment Group during the fourth quarter worth about $43,000. Columbia Asset Management acquired a new stake in Tencent Music Entertainment Group during the fourth quarter worth about $173,000. Clear Perspective Advisors LLC acquired a new stake in Tencent Music Entertainment Group during the fourth quarter worth about $290,000. Barclays PLC acquired a new stake in Tencent Music Entertainment Group during the fourth quarter worth about $111,000. Finally, City Financial Investment Co Ltd acquired a new stake in Tencent Music Entertainment Group during the fourth quarter worth about $132,000. Hedge funds and other institutional investors own 0.04% 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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