Equities analysts expect that Tencent Music Entertainment Group – (NYSE:TME) will post earnings per share (EPS) of $0.11 for the current quarter, according to Zacks. Three analysts have made estimates for Tencent Music Entertainment Group’s earnings, with estimates ranging from $0.09 to $0.12. The firm is scheduled to issue its next earnings results on Monday, May 13th.

On average, analysts expect that Tencent Music Entertainment Group will report full-year earnings of $0.44 per share for the current financial year, with EPS estimates ranging from $0.42 to $0.46. For the next year, analysts expect that the business will post earnings of $0.59 per share, with EPS estimates ranging from $0.55 to $0.64. Zacks Investment Research’s EPS averages 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 posted its quarterly earnings data on Tuesday, March 19th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.53. The company had revenue of $5.40 billion during the quarter, compared to the consensus estimate of $5.24 billion. The firm’s revenue for the quarter was up 50.5% on a year-over-year basis.

Several equities research analysts have recently issued reports on the company. China International Capital assumed coverage on Tencent Music Entertainment Group in a research note on Monday. They issued a “hold” rating for the company. China Renaissance Securities assumed coverage on Tencent Music Entertainment Group in a research note on Monday. They issued a “hold” rating for the company. Credit Suisse Group lowered Tencent Music Entertainment Group from an “outperform” rating to a “neutral” rating and set a $18.00 price objective for the company. in a research note on Wednesday, March 20th. Zacks Investment Research raised Tencent Music Entertainment Group from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Friday, March 15th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $16.00 price objective on shares of Tencent Music Entertainment Group in a research note on Tuesday, March 12th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $16.73.

Shares of NYSE:TME traded down $0.54 during trading on Wednesday, hitting $14.47. The company had a trading volume of 10,063,906 shares, compared to its average volume of 5,663,486. The firm has a market capitalization of $26.17 billion and a price-to-earnings ratio of 72.35. Tencent Music Entertainment Group has a one year low of $11.81 and a one year high of $19.97.

Hedge funds have recently modified their holdings of the stock. Quadrant Capital Group LLC bought a new stake in shares of Tencent Music Entertainment Group during the 1st quarter worth approximately $29,000. Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of Tencent Music Entertainment Group by 368.2% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,341 shares of the company’s stock worth $42,000 after acquiring an additional 1,841 shares during the last quarter. Commonwealth Bank of Australia bought a new stake in shares of Tencent Music Entertainment Group during the 4th quarter worth approximately $43,000. Deutsche Bank AG bought a new stake in shares of Tencent Music Entertainment Group during the 4th quarter worth approximately $86,000. Finally, Barclays PLC bought a new stake in shares of Tencent Music Entertainment Group during the 4th quarter worth approximately $111,000. 5.37% 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.

See Also: Marijuana Stocks Future Looks Bright

Get a free copy of the Zacks research report on Tencent Music Entertainment Group (TME)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Tencent Music Entertainment Group (NYSE:TME)

Receive News & Ratings for Tencent Music Entertainment Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tencent Music Entertainment Group and related companies with MarketBeat.com's FREE daily email newsletter.