Earnings Report: Here’s what to expect from Tencent Music Entertainment Group (NYSE:TME)

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

Tencent Music Entertainment Group is expected* to report earnings on 08/16/2021 after market close. The report will be for the fiscal Quarter ending Jun 2021. According to Zacks Investment Research, based on 3 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.08. The reported EPS for the same quarter last year was $0.09.

Tencent Music Entertainment Group last released its earnings results on May 16th, 2021. The reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.59. The company had revenue of $7.82 billion for the quarter, compared to analysts’ expectations of $7.77 billion. Its revenue was up 23.9% on a year-over-year basis. Tencent Music Entertainment Group has generated $0.40 earnings per share over the last year ($0.37 diluted earnings per share) and currently has a price-to-earnings ratio of 26.5. Earnings for Tencent Music Entertainment Group are expected to grow by 51.52% in the coming year, from $0.33 to $0.50 per share. Tencent Music Entertainment Group has confirmed that its next quarterly earnings report will be published on Monday, August 16th, 2021. Tencent Music Entertainment Group will be holding an earnings conference call on Monday, August 16th at 8:00 PM Eastern. Interested parties can register for or listen to the call using this link or dial in at 412-317-0088 with passcode “10157998”.

Analyst Opinion on Tencent Music Entertainment Group (NYSE:TME)

13 Wall Street analysts have issued ratings and price targets for Tencent Music Entertainment Group in the last 12 months. Their average twelve-month price target is $24.00, predicting that the stock has a possible upside of 144.90%. The high price target for TME is $36.00 and the low price target for TME is $14.00. There are currently 1 sell rating, 5 hold ratings and 7 buy ratings for the stock, resulting in a consensus rating of “Hold.”

Tencent Music Entertainment Group has received a consensus rating of Hold. The company’s average rating score is 2.46, and is based on 7 buy ratings, 5 hold ratings, and 1 sell rating. According to analysts’ consensus price target of $24.00, Tencent Music Entertainment Group has a forecasted upside of 144.9% from its current price of $9.80. Tencent Music Entertainment Group has been the subject of 6 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Dividend Strength: Tencent Music Entertainment Group (NYSE:TME)

Tencent Music Entertainment Group does not currently pay a dividend. Tencent Music Entertainment Group does not have a long track record of dividend growth.

Insiders buying/selling: Tencent Music Entertainment Group (NYSE:TME)

In the past three months, Tencent Music Entertainment Group insiders have not sold or bought any company stock. Only 29.61% of the stock of Tencent Music Entertainment Group is held by institutions.

Earnings and Valuation of Tencent Music Entertainment Group (NYSE:TME

Earnings for Tencent Music Entertainment Group are expected to grow by 51.52% in the coming year, from $0.33 to $0.50 per share. The P/E ratio of Tencent Music Entertainment Group is 26.49, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 17.89. The P/E ratio of Tencent Music Entertainment Group is 26.49, which means that it is trading at a less expensive P/E ratio than the Computer and Technology sector average P/E ratio of about 40.47. Tencent Music Entertainment Group has a PEG Ratio of 3.44. PEG Ratios above 1 indicate that a company could be overvalued. Tencent Music Entertainment Group has a P/B Ratio of 2.15. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

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