Tencent Music Entertainment Group (TME) Projected to Post Quarterly Earnings on Tuesday

Tencent Music Entertainment Group (NYSE:TME) is projected to issue its quarterly earnings data before the market opens on Tuesday, March 18th. Analysts expect the company to announce earnings of $0.19 per share and revenue of $1.01 billion for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

Tencent Music Entertainment Group Stock Performance

NYSE:TME opened at $12.53 on Monday. Tencent Music Entertainment Group has a 1 year low of $9.41 and a 1 year high of $15.77. The firm has a 50 day moving average of $12.09 and a 200-day moving average of $11.70. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $21.49 billion, a P/E ratio of 23.19, a price-to-earnings-growth ratio of 0.77 and a beta of 0.70.

Analysts Set New Price Targets

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 for the company in a research note on Tuesday, January 21st. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.