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

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

Tencent Music Entertainment Group Trading Up 15.6 %

TME opened at $15.10 on Wednesday. Tencent Music Entertainment Group has a fifty-two week low of $9.41 and a fifty-two week high of $15.77. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.34 and a quick ratio of 2.34. The company has a market cap of $25.91 billion, a price-to-earnings ratio of 27.96, a price-to-earnings-growth ratio of 0.77 and a beta of 0.70. The firm has a 50 day simple moving average of $12.22 and a 200 day simple moving average of $11.75.

Wall Street Analyst Weigh In

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

About Tencent Music Entertainment Group

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.