Tencent Music Entertainment Gears Up For Q1 Print; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
Portfolio Pulse from Avi Kapoor
Tencent Music Entertainment Group (TME) is set to release its Q1 earnings on May 13, with analysts predicting an earnings increase to 14 cents per share from 12 cents a year earlier, despite an expected revenue drop to $916.95 million from $980.64 million. Following a Q4 revenue decline of 7.2% to $971 million, TME's stock slightly fell by 0.3% to $13.34. Analysts from Morgan Stanley, Benchmark, B of A Securities, Redburn Atlantic, and CLSA have recently updated their ratings and price targets for TME.
May 13, 2024 | 5:51 am
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TME is anticipated to report an increase in quarterly earnings per share with a slight revenue decline. Analysts have updated their ratings and price targets, indicating a positive outlook despite a recent stock price dip.
The anticipation of increased earnings per share, despite a slight revenue decline, coupled with positive analyst ratings and revised price targets, suggests a bullish outlook for TME in the short term. The recent dip in stock price following a Q4 revenue decline may present a buying opportunity ahead of the Q1 earnings release, as analyst endorsements tend to positively influence investor sentiment and stock performance.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100