Tencent Music Entertainment Group (TME) to Release Quarterly Earnings on Monday

Tencent Music Entertainment Group (NYSE:TME) will announce its earnings results before the market opens on Monday, May 13th. Analysts expect the company to announce earnings of $0.13 per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

Tencent Music Entertainment Group (NYSE:TME) last announced its quarterly earnings results on Tuesday, March 19th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.12 by $0.01. The company had revenue of $971.00 million for the quarter, compared to analyst estimates of $925.06 million. Tencent Music Entertainment Group had a net margin of 17.71% and a return on equity of 9.67%. On average, analysts expect Tencent Music Entertainment Group to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Tencent Music Entertainment Group Stock Performance

Shares of NYSE TME opened at $13.50 on Monday. Tencent Music Entertainment Group has a 12-month low of $5.70 and a 12-month high of $13.50. The company has a market cap of $23.17 billion, a PE ratio of 30.68, a P/E/G ratio of 0.83 and a beta of 0.77. The stock has a 50 day simple moving average of $11.28 and a 200-day simple moving average of $9.55. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 0.10.

Analyst Ratings Changes

A number of analysts have commented on TME shares. Citigroup upgraded shares of Tencent Music Entertainment Group from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $9.00 to $13.00 in a research report on Wednesday, March 20th. Mizuho increased their price target on Tencent Music Entertainment Group from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. UBS Group raised Tencent Music Entertainment Group from a “neutral” rating to a “buy” rating and set a $10.50 price objective on the stock in a research note on Wednesday, January 24th. HSBC raised their target price on Tencent Music Entertainment Group from $9.50 to $10.40 and gave the company a “hold” rating in a research note on Wednesday, March 20th. Finally, Bank of America boosted their price target on shares of Tencent Music Entertainment Group from $10.50 to $12.30 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $11.63.

About Tencent Music Entertainment Group

Tencent Music Entertainment Group operates online music entertainment platforms to provide 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 music in personalized ways; and WeSing, which enables users to sing from its library of karaoke songs and share their performances in audio or video formats with friends.