Tencent (OTCMKTS:TCEHY) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Tencent (OTCMKTS:TCEHY) from a strong sell rating to a hold rating in a research note released on Wednesday, Zacks.com reports.

According to Zacks, “Tencent Holdings Limited is an Internet service portal. Tencent provides value-added Internet, mobile and telecom services and online advertising. Tencent’s leading Internet platforms in China are QQ Instant Messenger, QQ.com, QQ Games, Qzone, 3g.QQ.com, SoSo, PaiPai and Tenpay. It has brought together China’s largest Internet community, to meet the various needs of Internet users including communication, information, entertainment, e-commerce and others. Tencent Holdings Limited is headquartered in Shenzhen, the People’s Republic of China. “

Other equities analysts also recently issued research reports about the company. Barclays initiated coverage on Tencent in a research report on Tuesday, November 2nd. They set an overweight rating and a $84.00 price target on the stock. Mizuho dropped their price objective on Tencent from $530.00 to $510.00 and set a neutral rating on the stock in a research report on Monday, October 11th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average target price of $154.34.

TCEHY stock opened at $60.67 on Wednesday. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.28. The business’s fifty day simple moving average is $59.40 and its two-hundred day simple moving average is $61.65. Tencent has a twelve month low of $53.47 and a twelve month high of $99.40. The firm has a market cap of $582.66 billion, a price-to-earnings ratio of 20.22 and a beta of 0.46.

Tencent (OTCMKTS:TCEHY) last released its earnings results on Wednesday, November 10th. The technology company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.07). Tencent had a return on equity of 12.89% and a net margin of 34.36%. The business had revenue of $22 billion during the quarter, compared to analysts’ expectations of $21.60 billion. Research analysts expect that Tencent will post 1.74 EPS for the current year.

Tencent Company Profile

Tencent Holdings Limited, an investment holding company, provides value-added services (VAS) and Online advertising services in Mainland China and internationally. The company operates through VAS, Online Advertising, FinTech and Business Services, and Others segments. It offers online games and social network services; FinTech and cloud services, and online advertising services, such as media, social, and others advertisement services.

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