Tencent Music Entertainment Group (TME) Expected to Announce Quarterly Earnings on Tuesday

Tencent Music Entertainment Group (NYSE:TME) will likely be posting its quarterly earnings results before the market opens on Tuesday, March 18th. Analysts expect Tencent Music Entertainment Group to post earnings of $0.19 per share and revenue of $1.01 billion for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

Tencent Music Entertainment Group Price Performance

Shares of NYSE:TME opened at $12.53 on Friday. Tencent Music Entertainment Group has a one year low of $9.41 and a one year high of $15.77. The stock has a market capitalization of $21.49 billion, a price-to-earnings ratio of 23.19, a PEG ratio of 0.77 and a beta of 0.70. The company has a 50-day simple moving average of $12.09 and a 200-day simple moving average of $11.69. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.34 and a current ratio of 2.34.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley raised Tencent Music Entertainment Group from an “equal weight” rating to an “overweight” rating and set a $13.00 price target on the stock in a report on Tuesday, January 21st. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Tencent Music Entertainment Group currently has an average rating of “Moderate Buy” and a consensus target price of $14.04.

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; long-form audio content, including audiobooks, podcasts and talk shows, as well as music-oriented video content comprising music videos, live performances, and short videos; and WeSing, which enables users to sing along from its library of karaoke songs and share their performances in audio or video formats with friends.