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

Tencent Music Entertainment Group (NYSE:TME) will announce its earnings results before the market opens on Tuesday, November 12th. Analysts expect the company to announce earnings of $0.16 per share for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

Tencent Music Entertainment Group (NYSE:TME) last released its quarterly earnings data on Tuesday, August 13th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.01). The business had revenue of $985.00 million during the quarter, compared to analysts’ expectations of $1 billion. Tencent Music Entertainment Group had a return on equity of 10.11% and a net margin of 20.35%. 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 Price Performance

Shares of TME stock opened at $11.39 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.34 and a current ratio of 2.34. Tencent Music Entertainment Group has a fifty-two week low of $6.76 and a fifty-two week high of $15.77. The firm has a market cap of $19.55 billion, a P/E ratio of 22.78, a P/E/G ratio of 0.86 and a beta of 0.67. The business’s 50 day moving average price is $11.39 and its 200-day moving average price is $12.85.

Analyst Ratings Changes

TME has been the topic of several research reports. Daiwa Capital Markets lowered Tencent Music Entertainment Group from an “outperform” rating to a “neutral” rating in a research report on Tuesday, August 13th. Mizuho reduced their target price on shares of Tencent Music Entertainment Group from $17.00 to $16.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th. Barclays began coverage on shares of Tencent Music Entertainment Group in a research report on Wednesday. They set an “overweight” rating and a $16.00 price target for the company. Morgan Stanley lowered shares of Tencent Music Entertainment Group from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $15.00 to $13.00 in a research note on Wednesday, September 25th. Finally, Benchmark decreased their target price on shares of Tencent Music Entertainment Group from $19.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, August 14th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Tencent Music Entertainment Group presently has an average rating of “Moderate Buy” and an average price target of $13.03.

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.