Benzinga - by Avi Kapoor, Benzinga Staff Writer.
Tencent Music Entertainment Group (NYSE:TME) is expected to release earnings results for its first quarter, before the opening bell on May 13.
Analysts expect the Shenzhen, China-based company to report quarterly earnings at 14 cents per share, up from 12 cents per share in the year-earlier period. Tencent Music Entertainment is projected to report quarterly revenue of $916.95 million, compared to $980.64 million a year ago, according to data from Benzinga Pro.
On March 19, Tencent Music Entertainment reported a fourth-quarter revenue decline of 7.2% year-over-year to $971 million (CNY6.89 billion), beating the consensus of $932 million.
Tencent Music Entertainment shares fell 0.3% to close at $13.34 on Friday.
Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate analysts have rated the company in the recent period.
- Morgan Stanley analyst Alex Poon maintained an Overweight rating and boosted the price target from $11 to $13.5 on March 20. This analyst has an accuracy rate of 71%.
- Benchmark analyst Fawne Jiang maintained a Buy rating and increased the price target from $9 to $14 on March 20. This analyst has an accuracy rate of 67%.
- B of A Securities analyst Lei Zhang maintained a Buy rating and boosted the price target from $10.5 to $12.3 on March 20. This analyst has an accuracy rate of 65%.
- Redburn Atlantic analyst Agnieszka Pustula initiated coverage on the stock with a Buy rating and a price target of $12 on Feb. 5. This analyst has an accuracy rate of 72%.
- CLSA analyst Maggie Ye initiated coverage on the stock with an Outperform rating and a price target of $10.5 on Feb. 5. This analyst has an accuracy rate of 72%.
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