Tencent Music Entertainment Group (NYSE:TME - Get Free Report) posted its earnings results on Tuesday. The company reported $1.47 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $1.28, Briefing.com reports. Tencent Music Entertainment Group had a return on equity of 10.67% and a net margin of 21.53%. The business had revenue of $7.46 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the company earned $1.00 EPS. The company's quarterly revenue was up 8.2% compared to the same quarter last year.
Tencent Music Entertainment Group Price Performance
Shares of Tencent Music Entertainment Group stock traded down $0.29 during trading hours on Friday, hitting $14.00. The company's stock had a trading volume of 5,403,604 shares, compared to its average volume of 8,103,395. The business has a 50 day moving average price of $12.43 and a two-hundred day moving average price of $11.81. Tencent Music Entertainment Group has a 12-month low of $9.41 and a 12-month high of $15.77. The company has a market cap of $24.02 billion, a PE ratio of 25.92, a PEG ratio of 0.77 and a beta of 0.70. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.34 and a current ratio of 2.34.
Tencent Music Entertainment Group Increases Dividend
The firm also recently disclosed an annual dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 3rd will be given a $0.18 dividend. This represents a dividend yield of 0.9%. This is an increase from Tencent Music Entertainment Group's previous annual dividend of $0.12. The ex-dividend date is Thursday, April 3rd. Tencent Music Entertainment Group's payout ratio is presently 22.03%.
Wall Street Analyst Weigh In
Several analysts recently commented on the company. Mizuho lifted their price objective on Tencent Music Entertainment Group from $16.00 to $17.00 and gave the stock an "outperform" rating in a report on Wednesday. Morgan Stanley upgraded 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. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $15.00.
Check Out Our Latest Analysis on TME
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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