Tencent Music Entertainment Group (NYSE:TME – Get Rating) is expected to release quarterly earnings data after the market close on Monday, August 15. Analysts expect the company to report earnings of $0.08 per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.
Tencent Music Entertainment Group (NYSE:TME – Get Rating) last released its quarterly results on Monday, May 16. The company reported EPS of $0.07 for the quarter, beating the consensus estimate of $0.06 by $0.01. Tencent Music Entertainment Group achieved a net margin of 9.01% and a return on equity of 6.21%. The company posted revenue of $6.64 billion in the quarter, versus analyst estimates of $6.65 billion. During the same period of the previous year, the company posted an EPS of $0.09. The company’s quarterly revenue was down 15.1% year over year. On average, analysts expect Tencent Music Entertainment Group to post EPS of $0 for the current fiscal year and EPS of $0 for the next fiscal year.
Tencent Music Entertainment Group grows 0.2%
NYSE TME opened at $4.27 on Monday. Tencent Music Entertainment Group has a one-year minimum of $2.95 and a one-year maximum of $10.96. The company has a 50-day simple moving average of $4.55 and a 200-day simple moving average of $4.76. The company has a debt ratio of 0.10, a quick ratio of 2.28 and a current ratio of 2.28. The company has a market capitalization of $7.16 billion, a PE ratio of 16.42, a growth price-earnings ratio of 1.29 and a beta of 0.71.
Analyst upgrades and downgrades
Several research analysts have recently commented on TME shares. Goldman Sachs Group began covering shares of Tencent Music Entertainment Group in a report on Sunday, April 10. They issued a “sell” rating and a price target of $5.60 for the company. HSBC cut its price target on shares of Tencent Music Entertainment Group from $5.10 to $3.90 in a Tuesday, May 17 research report. Two analysts rated the stock with a sell rating, eight assigned a hold rating and two assigned a buy rating. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $8.59.
Tencent Music Entertainment Group Institutional Trading
A number of hedge funds and other institutional investors have recently changed their positions in TME. E Fund Management Hong Kong Co. Ltd. increased its position in Tencent Music Entertainment Group shares by 136.0% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 391,594 shares of the company worth $1,942,000 after purchasing an additional 225,634 shares last quarter. Envestnet Asset Management Inc. increased its stake in Tencent Music Entertainment Group shares by 32.8% in Q1. Envestnet Asset Management Inc. now owns 31,091 shares of the company worth $151,000 after purchasing an additional 7,680 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Tencent Music Entertainment Group shares by 88.1% in Q1. JPMorgan Chase & Co. now owns 1,807,684 shares of the company worth $8,804,000 after purchasing an additional 846,710 shares in the last quarter. US Bancorp DE increased its stake in shares of Tencent Music Entertainment Group by 16.0% in Q1. US Bancorp DE now owns 32,719 shares of the company worth $159,000 after buying an additional 4,520 shares in the last quarter. Finally, HighTower Advisors LLC acquired a new stock position in Tencent Music Entertainment Group in Q1 worth approximately $51,000.
Tencent Music Entertainment Group Company Profile
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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 which allow users to discover and listen to music in a personalized way. and WeSing, which allows users to have fun singing and interacting with friends, sharing their singing performances with friends, and discovering songs that others have sung.
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