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Tencent Music Entertainment Group:Profits of 9 cents per share anticipated for first quarter

05/14/2021 | 05:55pm EDT
Illustration picture of China's Tencent Music Entertainment Group

14 May 2021 09:26 p.m. GMT All figures in US Dollars. 

Tencent Music Entertainment Group is expected to show a decrease in its first quarter earnings to 9 cents per share according to the mean Refinitiv estimate from thirteen analysts. Wall Street expects results to range from a loss of -20 cents to 12 cents per share.  

RECOMMENDATIONS 

* The consensus recommendation for the company is "Buy". This includes six "Strong Buy",  eleven "Buy",  eight "Hold". 

* The average consensus recommendation for the online services peer group is also "Buy". 

FORECAST CHANGES

* Fourteen analysts are currently providing Refinitiv with estimates. 

* In the last week one analyst has negatively revised an earnings estimate and  there have been no positive earnings revisions. There were no changes to the number of estimates.

* In the last four weeks the earnings per share estimate has risen by 1.81 percent from 9 cents. Estimates ranged from a high of 12.57 cents to a low of -19 cents. There has been no changes to the number of estimates.

* The StarMine predicted earnings surprise, which is the difference between Wall Street's mean estimate and StarMine's estimate of its highest rated analysts, is positive for Tencent Music at 15.36 percent. Predicted revenue surprise is too low to be significant.

* The average price target from the fourteen analysts providing estimates is $27.39.

YEAR OVER YEAR

* The company is expected to report a rise in revenue to $1.2 billion from $889.22 million in the same quarter last year.

* The current quarter consensus estimate of 9 cents per share implies a loss of 15.50 percent from the same quarter last year when the company reported 9.3 cents per share.

* Previous quarterly performance(using preferred earnings measure)

QUARTER ENDING ESTIMATE  ACTUAL BEAT, MET,

MISSED

Dec. 31 2020 0.12 0.12 Met

Sep. 30 2020 0.11 0.12 Beat

Jun. 30  2020 0.09 0.10 Beat

Mar. 31 2020 0.09 0.09 Met

This summary was machine generated from Refinitiv data May 14 at 09:26 p.m. GMT. 


© Reuters 2021
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