Tencent Music Entertainment Group – (NYSE:TME) Expected to Announce Quarterly Sales of $928.38 Million

Analysts forecast that Tencent Music Entertainment Group – (NYSE:TME) will report $928.38 million in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Tencent Music Entertainment Group’s earnings. The highest sales estimate is $963.80 million and the lowest is $903.65 million. The firm is scheduled to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Tencent Music Entertainment Group will report full-year sales of $3.64 billion for the current fiscal year, with estimates ranging from $3.57 billion to $3.72 billion. For the next financial year, analysts expect that the company will post sales of $4.93 billion, with estimates ranging from $4.80 billion to $5.04 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Tencent Music Entertainment Group.

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



Several research analysts have recently weighed in on the company. China Renaissance Securities started coverage on Tencent Music Entertainment Group in a report on Monday, May 13th. They set a “hold” rating on the stock. Zacks Investment Research lowered shares of Tencent Music Entertainment Group from a “buy” rating to a “hold” rating in a research note on Wednesday, May 22nd. Oppenheimer started coverage on shares of Tencent Music Entertainment Group in a research note on Monday, July 29th. They issued an “outperform” rating and a $18.00 price target for the company. Loop Capital started coverage on shares of Tencent Music Entertainment Group in a research note on Tuesday, June 4th. They issued a “buy” rating and a $12.89 price target for the company. Finally, CICC Research started coverage on shares of Tencent Music Entertainment Group in a research note on Thursday, June 13th. They issued a “buy” rating for the company. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $16.39.

TME traded up $0.01 during trading on Friday, hitting $13.67. 2,911,976 shares of the stock were exchanged, compared to its average volume of 5,752,898. The firm has a market cap of $22.85 billion and a price-to-earnings ratio of 68.35. The firm has a 50 day simple moving average of $14.63 and a 200 day simple moving average of $15.85. Tencent Music Entertainment Group has a 1 year low of $11.81 and a 1 year high of $19.97.

Several institutional investors have recently bought and sold shares of the company. NEXT Financial Group Inc acquired a new stake in Tencent Music Entertainment Group during the 2nd quarter worth about $26,000. Quadrant Capital Group LLC acquired a new stake in shares of Tencent Music Entertainment Group in the 1st quarter worth approximately $29,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Tencent Music Entertainment Group in the 2nd quarter worth approximately $55,000. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Tencent Music Entertainment Group in the 2nd quarter worth approximately $60,000. Finally, Deutsche Bank AG acquired a new stake in shares of Tencent Music Entertainment Group in the 4th quarter worth approximately $86,000. 6.95% of the stock is owned by hedge funds and other institutional investors.

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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