Equities research analysts predict that Tencent Music Entertainment Group – (NYSE:TME) will report earnings of $0.09 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Tencent Music Entertainment Group’s earnings, with estimates ranging from $0.08 to $0.09. Tencent Music Entertainment Group reported earnings of $0.10 per share during the same quarter last year, which would indicate a negative year over year growth rate of 10%. The firm is scheduled to issue its next quarterly earnings results on Monday, August 10th.

According to Zacks, analysts expect that Tencent Music Entertainment Group will report full year earnings of $0.40 per share for the current fiscal year, with EPS estimates ranging from $0.37 to $0.41. For the next financial year, analysts forecast that the company will report earnings of $0.51 per share, with EPS estimates ranging from $0.47 to $0.54. Zacks’ earnings per share calculations are an average based on a survey of research analysts that cover Tencent Music Entertainment Group.

Tencent Music Entertainment Group (NYSE:TME) last released its quarterly earnings data on Monday, May 11th. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.08 by $0.58. The company had revenue of $6.31 billion for the quarter, compared to the consensus estimate of $6.30 billion. Tencent Music Entertainment Group had a return on equity of 10.21% and a net margin of 14.94%. Tencent Music Entertainment Group’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period last year, the business posted $0.74 EPS.

Several research analysts have commented on TME shares. Citigroup initiated coverage on Tencent Music Entertainment Group in a report on Tuesday, June 30th. They set a “buy” rating and a $18.00 price objective on the stock. Mizuho reiterated a “buy” rating and issued a $24.00 price target on shares of Tencent Music Entertainment Group in a report on Monday, June 22nd. Zacks Investment Research upgraded Tencent Music Entertainment Group from a “sell” rating to a “hold” rating in a report on Friday, March 13th. Morgan Stanley upgraded Tencent Music Entertainment Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $15.00 to $16.00 in a report on Thursday, March 12th. Finally, ValuEngine downgraded Tencent Music Entertainment Group from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $17.59.

Several institutional investors have recently bought and sold shares of the company. Confluence Investment Management LLC boosted its position in shares of Tencent Music Entertainment Group by 13.2% in the 2nd quarter. Confluence Investment Management LLC now owns 19,672 shares of the company’s stock worth $265,000 after purchasing an additional 2,300 shares in the last quarter. State Street Corp boosted its position in shares of Tencent Music Entertainment Group by 6.7% in the 1st quarter. State Street Corp now owns 1,873,906 shares of the company’s stock worth $18,851,000 after purchasing an additional 117,890 shares in the last quarter. EPIQ Capital Group LLC boosted its position in shares of Tencent Music Entertainment Group by 1.6% in the 1st quarter. EPIQ Capital Group LLC now owns 439,595 shares of the company’s stock worth $4,422,000 after purchasing an additional 6,942 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Tencent Music Entertainment Group by 873.8% in the 1st quarter. Royal Bank of Canada now owns 274,048 shares of the company’s stock worth $2,757,000 after purchasing an additional 245,905 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its position in Tencent Music Entertainment Group by 10.5% during the 1st quarter. Clearbridge Investments LLC now owns 33,930 shares of the company’s stock worth $341,000 after acquiring an additional 3,230 shares during the period. 16.61% of the stock is owned by hedge funds and other institutional investors.

TME traded up $1.58 during trading on Monday, hitting $15.73. 30,518,318 shares of the stock were exchanged, compared to its average volume of 9,685,089. The firm has a 50 day simple moving average of $12.62 and a 200 day simple moving average of $12.06. The firm has a market cap of $23.11 billion, a price-to-earnings ratio of 47.21, a P/E/G ratio of 1.90 and a beta of 1.39. Tencent Music Entertainment Group has a 1 year low of $9.22 and a 1 year high of $16.74.

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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