Tencent Music Entertainment Group – (NYSE:TME) Expected to Post Earnings of $0.10 Per Share

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Equities analysts forecast that Tencent Music Entertainment Group – (NYSE:TME) will post earnings of $0.10 per share for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Tencent Music Entertainment Group’s earnings. The highest EPS estimate is $0.11 and the lowest is $0.09. The firm is expected to issue its next earnings report after the market closes on Monday, November 11th.

On average, analysts expect that Tencent Music Entertainment Group will report full-year earnings of $0.39 per share for the current financial year, with EPS estimates ranging from $0.36 to $0.40. For the next fiscal year, analysts forecast that the business will report earnings of $0.53 per share, with EPS estimates ranging from $0.50 to $0.57. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Tencent Music Entertainment Group.

Tencent Music Entertainment Group (NYSE:TME) last released its quarterly earnings data on Monday, August 12th. The company reported $0.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.01. The company had revenue of $859.00 million during the quarter, compared to analyst estimates of $872.51 million.

Several brokerages have recently commented on TME. China Renaissance Securities upgraded shares of Tencent Music Entertainment Group from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. Oppenheimer began coverage on shares of Tencent Music Entertainment Group in a research note on Monday, July 29th. They set an “outperform” rating and a $18.00 price target on the stock. Bank of America dropped their price target on shares of Tencent Music Entertainment Group from $19.20 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. Zacks Investment Research lowered shares of Tencent Music Entertainment Group from a “hold” rating to a “sell” rating in a research note on Wednesday, October 16th. Finally, Jefferies Financial Group began coverage on shares of Tencent Music Entertainment Group in a research note on Monday, August 5th. They set a “buy” rating and a $16.90 price target on the stock. One 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 a consensus rating of “Buy” and a consensus target price of $16.27.

Large investors have recently bought and sold shares of the stock. NEXT Financial Group Inc acquired a new position in Tencent Music Entertainment Group in the 2nd quarter valued at $26,000. Harvest Fund Management Co. Ltd acquired a new position in Tencent Music Entertainment Group in the 2nd quarter valued at $55,000. Skandinaviska Enskilda Banken AB publ acquired a new position in Tencent Music Entertainment Group in the 2nd quarter valued at $60,000. ELCO Management Co. LLC acquired a new position in Tencent Music Entertainment Group in the 2nd quarter valued at $150,000. Finally, Fortem Financial Group LLC acquired a new position in Tencent Music Entertainment Group in the 2nd quarter valued at $154,000. Institutional investors and hedge funds own 9.56% of the company’s stock.

Tencent Music Entertainment Group stock traded down $0.24 during trading hours on Tuesday, hitting $13.79. The company had a trading volume of 112,228 shares, compared to its average volume of 3,687,059. The firm’s fifty day moving average is $13.28 and its 200-day moving average is $14.70. Tencent Music Entertainment Group has a fifty-two week low of $11.81 and a fifty-two week high of $19.97. The firm has a market capitalization of $22.89 billion and a P/E ratio of 68.95.

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

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