$0.08 EPS Expected for Tencent Music Entertainment Group (NYSE:TME) This Quarter

Equities research analysts forecast that Tencent Music Entertainment Group (NYSE:TMEGet Rating) will report earnings per share (EPS) of $0.08 for the current quarter, according to Zacks. Two analysts have provided estimates for Tencent Music Entertainment Group’s earnings. The lowest EPS estimate is $0.07 and the highest is $0.08. Tencent Music Entertainment Group posted earnings of $0.11 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 27.3%. The business is scheduled to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Tencent Music Entertainment Group will report full year earnings of $0.32 per share for the current year, with EPS estimates ranging from $0.26 to $0.37. For the next year, analysts expect that the business will report earnings of $0.33 per share, with EPS estimates ranging from $0.20 to $0.46. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that cover Tencent Music Entertainment Group.

Tencent Music Entertainment Group (NYSE:TMEGet Rating) last released its quarterly earnings data on Monday, March 21st. The company reported $0.50 EPS for the quarter, meeting analysts’ consensus estimates of $0.50. The company had revenue of $7.61 billion during the quarter, compared to analyst estimates of $7.66 billion. Tencent Music Entertainment Group had a net margin of 9.68% and a return on equity of 6.80%. Tencent Music Entertainment Group’s revenue was down 8.7% compared to the same quarter last year. During the same period last year, the business earned $0.11 earnings per share.

Several equities research analysts recently issued reports on the company. The Goldman Sachs Group began coverage on Tencent Music Entertainment Group in a research note on Sunday. They set a “sell” rating and a $5.60 price objective for the company. Benchmark assumed coverage on Tencent Music Entertainment Group in a research report on Tuesday, December 28th. They set a “hold” rating for the company. JPMorgan Chase & Co. decreased their price objective on shares of Tencent Music Entertainment Group from $6.00 to $3.50 in a research report on Monday, March 14th. China Renaissance Securities cut shares of Tencent Music Entertainment Group from a “buy” rating to a “hold” rating and set a $7.30 price target for the company. in a research note on Thursday, January 20th. Finally, Zacks Investment Research upgraded shares of Tencent Music Entertainment Group from a “sell” rating to a “hold” rating in a research report on Saturday, March 5th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $11.40.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC purchased a new stake in Tencent Music Entertainment Group during the 1st quarter valued at $21,905,000. First Trust Advisors LP purchased a new stake in shares of Tencent Music Entertainment Group during the first quarter worth about $468,000. Amundi Pioneer Asset Management Inc. bought a new stake in shares of Tencent Music Entertainment Group in the first quarter worth about $4,169,000. Morgan Stanley increased its holdings in Tencent Music Entertainment Group by 24.1% during the 2nd quarter. Morgan Stanley now owns 10,641,388 shares of the company’s stock valued at $164,728,000 after purchasing an additional 2,068,589 shares during the period. Finally, Signaturefd LLC raised its position in Tencent Music Entertainment Group by 58.8% during the 3rd quarter. Signaturefd LLC now owns 16,318 shares of the company’s stock valued at $118,000 after purchasing an additional 6,042 shares during the last quarter.

TME opened at $5.02 on Thursday. The firm has a market capitalization of $8.42 billion, a P/E ratio of 17.93, a price-to-earnings-growth ratio of 6.26 and a beta of 1.13. Tencent Music Entertainment Group has a one year low of $2.95 and a one year high of $19.84. The company has a fifty day moving average price of $5.12 and a 200-day moving average price of $6.43. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.56 and a quick ratio of 2.56.

Tencent Music Entertainment Group Company Profile (Get Rating)

Tencent Music Entertainment Group operates online music entertainment platforms that provides 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 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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