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

Equities analysts predict that Tencent Music Entertainment Group – (NYSE:TME) will report earnings of $0.11 per share for the current quarter, according to Zacks. Three analysts have issued estimates for Tencent Music Entertainment Group’s earnings, with the highest EPS estimate coming in at $0.11 and the lowest estimate coming in at $0.10. The company is scheduled to report its next earnings results on Monday, January 1st.

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 expect that the company will post earnings of $0.59 per share, with EPS estimates ranging from $0.55 to $0.64. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for 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 earnings per share (EPS) for the quarter, topping the consensus estimate 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. Tencent Music Entertainment Group’s revenue for the quarter was up 50.5% on a year-over-year basis.

Several analysts recently issued reports on TME shares. Bank of America started coverage on Tencent Music Entertainment Group in a report on Monday, January 7th. They issued a “buy” rating and a $17.10 price target on the stock. HSBC started coverage on Tencent Music Entertainment Group in a report on Thursday, January 17th. They issued a “buy” rating and a $16.00 price target on the stock. Zacks Investment Research raised Tencent Music Entertainment Group from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Friday, March 15th. Stifel Nicolaus started coverage on Tencent Music Entertainment Group in a report on Monday, January 7th. They issued a “hold” rating and a $14.00 price target on the stock. Finally, Morgan Stanley started coverage on Tencent Music Entertainment Group in a report on Monday, January 7th. They issued an “equal weight” rating on the stock. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $16.73.

Shares of NYSE TME opened at $18.10 on Friday. The company has a market capitalization of $28.15 billion and a P/E ratio of 90.50. Tencent Music Entertainment Group has a 12-month low of $11.81 and a 12-month high of $19.97.

Institutional investors have recently made changes to their positions in the business. Commonwealth Bank of Australia bought a new stake in Tencent Music Entertainment Group during the 4th quarter valued at $43,000. Barclays PLC bought a new stake in Tencent Music Entertainment Group during the 4th quarter valued at $111,000. Legal & General Group Plc bought a new stake in Tencent Music Entertainment Group during the 4th quarter valued at $132,000. City Financial Investment Co Ltd bought a new stake in Tencent Music Entertainment Group during the 4th quarter valued at $132,000. Finally, Columbia Asset Management bought a new stake in Tencent Music Entertainment Group during the 4th quarter valued at $173,000. 4.82% of the stock is currently owned by hedge funds and other institutional investors.

About Tencent Music Entertainment Group

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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