Tencent Music Entertainment Group (NYSE:TME) Announces Earnings Results

Tencent Music Entertainment Group (NYSE:TMEGet Free Report) posted its quarterly earnings results on Tuesday. The company reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $1.28, Briefing.com reports. The company had revenue of $7.46 billion for the quarter, compared to analyst estimates of $1.01 billion. Tencent Music Entertainment Group had a return on equity of 10.67% and a net margin of 21.53%. Tencent Music Entertainment Group’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.00 EPS.

Tencent Music Entertainment Group Trading Up 15.6 %

NYSE:TME opened at $15.10 on Wednesday. The stock’s 50 day moving average price is $12.22 and its 200 day moving average price is $11.75. The company has a market capitalization of $25.91 billion, a PE ratio of 27.96, a P/E/G ratio of 0.77 and a beta of 0.70. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.09. Tencent Music Entertainment Group has a 52-week low of $9.41 and a 52-week high of $15.77.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley raised Tencent Music Entertainment Group from an “equal weight” rating to an “overweight” rating and set a $13.00 price target on the stock in a research report on Tuesday, January 21st. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $14.04.

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About Tencent Music Entertainment Group

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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 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.

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

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