Tencent (OTCMKTS:TCEHY) Shares Gap Up – What’s Next?
by Teresa Graham · The Cerbat GemShares of Tencent Holding Ltd. (OTCMKTS:TCEHY – Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $76.55, but opened at $79.86. Tencent shares last traded at $79.6050, with a volume of 139,814 shares.
Analyst Upgrades and Downgrades
TCEHY has been the topic of several research reports. Erste Group Bank raised Tencent from a “hold” rating to a “buy” rating in a report on Monday, November 10th. Zacks Research upgraded Tencent from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 20th. Barclays reiterated an “overweight” rating and issued a $102.00 price target on shares of Tencent in a report on Friday, November 14th. Finally, Itau BBA Securities initiated coverage on Tencent in a research report on Tuesday, October 7th. They issued an “outperform” rating for the company. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $102.00.
Check Out Our Latest Analysis on Tencent
Tencent Stock Performance
The stock has a market cap of $730.45 billion, a P/E ratio of 24.62 and a beta of 0.22. The stock has a fifty day simple moving average of $79.66 and a 200-day simple moving average of $76.32. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.35 and a current ratio of 1.36.
Tencent (OTCMKTS:TCEHY – Get Free Report) last issued its quarterly earnings results on Thursday, November 13th. The technology company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.02 by $0.05. Tencent had a return on equity of 18.85% and a net margin of 29.87%.The firm had revenue of $27.18 billion during the quarter, compared to analysts’ expectations of $26.32 billion. On average, equities analysts expect that Tencent Holding Ltd. will post 2.74 earnings per share for the current year.
About Tencent
Tencent Holdings Limited is a Chinese multinational technology conglomerate headquartered in Shenzhen, Guangdong. Founded in 1998, the company grew from early instant-messaging products into a diversified internet services group and is listed on the Hong Kong Stock Exchange. Tencent’s businesses span consumer-facing applications, digital content, cloud services and financial technology, supported by a broad investment program in global technology and gaming companies.
At the consumer level Tencent operates major social and communication platforms such as QQ and WeChat (Weixin), which combine messaging, social networking, mobile payments and a wide range of mini-programs and services.