$0.10 EPS Expected for Tencent Music Entertainment Group – (NYSE:TME) This Quarter

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Brokerages expect that Tencent Music Entertainment Group – (NYSE:TME) will announce $0.10 earnings per share (EPS) for the current quarter, Zacks reports. Four analysts have made estimates for Tencent Music Entertainment Group’s earnings, with the lowest EPS estimate coming in at $0.09 and the highest estimate coming in at $0.11. The firm is expected to report its next earnings results on Monday, January 1st.

On average, analysts expect that Tencent Music Entertainment Group will report full year earnings of $0.39 per share for the current year, with EPS estimates ranging from $0.39 to $0.40. For the next fiscal year, analysts forecast that the firm will report earnings of $0.55 per share, with EPS estimates ranging from $0.53 to $0.57. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Tencent Music Entertainment Group.

Tencent Music Entertainment Group (NYSE:TME) last issued its earnings results on Monday, August 12th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The firm had revenue of $859.00 million during the quarter, compared to the consensus estimate of $872.51 million.

A number of equities analysts recently issued reports on TME shares. Loop Capital started coverage on Tencent Music Entertainment Group in a report on Tuesday, June 4th. They issued a “buy” rating and a $12.89 target price on the stock. China Renaissance Securities started coverage on Tencent Music Entertainment Group in a report on Monday, May 13th. They issued a “hold” rating on the stock. Zacks Investment Research cut Tencent Music Entertainment Group from a “buy” rating to a “hold” rating in a report on Wednesday, May 22nd. CICC Research started coverage on Tencent Music Entertainment Group in a report on Thursday, June 13th. They issued a “buy” rating on the stock. Finally, Jefferies Financial Group started coverage on Tencent Music Entertainment Group in a report on Monday, August 5th. They issued a “buy” rating and a $16.90 target price on the stock. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $16.39.

A number of large investors have recently modified their holdings of the business. Raymond James & Associates acquired a new position in shares of Tencent Music Entertainment Group in the fourth quarter valued at about $192,000. Northern Trust Corp bought a new stake in Tencent Music Entertainment Group during the fourth quarter worth about $3,437,000. Bank of America Corp DE bought a new stake in Tencent Music Entertainment Group during the fourth quarter worth about $702,000. Legal & General Group Plc bought a new stake in Tencent Music Entertainment Group during the fourth quarter worth about $132,000. Finally, Millennium Management LLC bought a new stake in Tencent Music Entertainment Group during the fourth quarter worth about $3,151,000. Institutional investors and hedge funds own 6.95% of the company’s stock.

Shares of TME traded up $0.01 during trading hours on Thursday, reaching $13.67. The stock had a trading volume of 2,911,976 shares, compared to its average volume of 5,752,898. Tencent Music Entertainment Group has a 12 month low of $11.81 and a 12 month high of $19.97. The firm has a 50-day simple moving average of $14.63 and a 200 day simple moving average of $15.85. The company has a market capitalization of $22.85 billion and a price-to-earnings ratio of 68.35.

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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