S&P 500   4,471.37
DOW   35,294.76
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S&P 500   4,471.37
DOW   35,294.76
QQQ   368.94
pixel
pixel
pixel
S&P 500   4,471.37
DOW   35,294.76
QQQ   368.94
pixel
pixel
pixel
S&P 500   4,471.37
DOW   35,294.76
QQQ   368.94
pixel
pixel
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Analysts Expect Tencent Music Entertainment Group (NYSE:TME) Will Post Quarterly Sales of $1.26 Billion

Last updated on Thursday, June 3, 2021 | 2021 MarketBeat

Wall Street analysts forecast that Tencent Music Entertainment Group (NYSE:TME) will announce sales of $1.26 billion for the current quarter, Zacks reports. Four analysts have issued estimates for Tencent Music Entertainment Group's earnings, with the highest sales estimate coming in at $1.30 billion and the lowest estimate coming in at $1.24 billion. Tencent Music Entertainment Group reported sales of $981.00 million in the same quarter last year, which indicates a positive year over year growth rate of 28.4%. The company is expected to issue its next earnings results on Monday, August 9th.

On average, analysts expect that Tencent Music Entertainment Group will report full-year sales of $5.32 billion for the current fiscal year, with estimates ranging from $5.25 billion to $5.41 billion. For the next fiscal year, analysts anticipate that the business will post sales of $6.44 billion, with estimates ranging from $6.19 billion to $6.86 billion. Zacks Investment Research's sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Tencent Music Entertainment Group.

Tencent Music Entertainment Group (NYSE:TME) last announced its earnings results on Sunday, May 16th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.59. Tencent Music Entertainment Group had a return on equity of 8.96% and a net margin of 13.67%. The firm had revenue of $7.82 billion during the quarter, compared to analyst estimates of $7.77 billion. During the same quarter in the prior year, the company earned $0.66 EPS. The business's revenue was up 23.9% compared to the same quarter last year.

A number of research firms recently weighed in on TME. The Goldman Sachs Group lowered Tencent Music Entertainment Group from a "buy" rating to a "neutral" rating in a research report on Wednesday, March 24th. Jefferies Financial Group raised their price objective on Tencent Music Entertainment Group from $18.20 to $36.00 and gave the company a "buy" rating in a research report on Tuesday, March 23rd. Needham & Company LLC reaffirmed a "buy" rating and set a $25.00 price objective on shares of Tencent Music Entertainment Group in a research report on Thursday, March 25th. TheStreet lowered Tencent Music Entertainment Group from a "b-" rating to a "c+" rating in a research report on Thursday, April 8th. Finally, HSBC raised their price objective on Tencent Music Entertainment Group from $30.00 to $35.00 and gave the company a "buy" rating in a research report on Wednesday, March 24th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of "Hold" and an average price target of $26.87.

TME stock opened at $15.76 on Thursday. Tencent Music Entertainment Group has a twelve month low of $12.00 and a twelve month high of $32.25. The company has a current ratio of 3.06, a quick ratio of 3.06 and a debt-to-equity ratio of 0.10. The company has a market cap of $26.44 billion, a price-to-earnings ratio of 42.59, a PEG ratio of 2.69 and a beta of 1.02. The company's 50 day moving average is $17.44.

Several hedge funds have recently added to or reduced their stakes in the company. Parallel Advisors LLC boosted its stake in shares of Tencent Music Entertainment Group by 51.9% in the 1st quarter. Parallel Advisors LLC now owns 1,568 shares of the company's stock worth $32,000 after buying an additional 536 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. boosted its stake in shares of Tencent Music Entertainment Group by 0.6% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 98,825 shares of the company's stock worth $2,025,000 after buying an additional 562 shares during the last quarter. M&T Bank Corp boosted its stake in shares of Tencent Music Entertainment Group by 4.4% in the 1st quarter. M&T Bank Corp now owns 16,040 shares of the company's stock worth $329,000 after buying an additional 671 shares during the last quarter. Comerica Bank boosted its stake in shares of Tencent Music Entertainment Group by 3.0% in the 4th quarter. Comerica Bank now owns 41,171 shares of the company's stock worth $1,112,000 after buying an additional 1,210 shares during the last quarter. Finally, NEXT Financial Group Inc boosted its stake in shares of Tencent Music Entertainment Group by 55.4% in the 4th quarter. NEXT Financial Group Inc now owns 3,819 shares of the company's stock worth $73,000 after buying an additional 1,361 shares during the last quarter. Hedge funds and other institutional investors own 31.09% of the company's stock.

About Tencent Music Entertainment Group

Tencent Music Entertainment Group operates online music entertainment platforms that provides 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 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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