Tencent Music Entertainment Group (NYSE:TME) Posts Quarterly Earnings Results

Tencent Music Entertainment Group (NYSE:TME) announced its quarterly earnings results on Tuesday. The company reported $1.47 EPS for the quarter, beating the consensus estimate 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 company had revenue of $7.46 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the business earned $1.00 earnings per share. Tencent Music Entertainment Group’s revenue was up 8.2% compared to the same quarter last year.

Tencent Music Entertainment Group Trading Up 15.6 %

Shares of NYSE:TME opened at $15.10 on Wednesday. The stock has a market capitalization of $25.91 billion, a price-to-earnings ratio of 27.96, a PEG ratio of 0.77 and a beta of 0.70. Tencent Music Entertainment Group has a 1-year low of $9.41 and a 1-year high of $15.77. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.34 and a current ratio of 2.34. The company has a 50 day moving average price of $12.22 and a 200 day moving average price of $11.75.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley upgraded shares of 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 note on Tuesday, January 21st. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.04.

Tencent Music Entertainment Group Company Profile

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.