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

Tencent (OTCMKTS:TCEHY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday, 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 research analysts have also recently issued reports about the company. Atlantic Securities began coverage on Tencent in a research note on Monday, October 19th. They issued an “overweight” rating for the company. Mizuho lifted their price target on Tencent from $64.48 to $77.38 and gave the company a “neutral” rating in a research report on Friday, November 13th. Barclays lifted their price target on Tencent from $81.00 to $89.00 and gave the company an “overweight” rating in a research report on Monday, November 16th. Finally, OTR Global upgraded Tencent to a “positive” rating in a research report on Wednesday, October 14th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $79.55.

Tencent stock opened at $78.43 on Tuesday. The stock has a 50-day moving average of $74.06 and a two-hundred day moving average of $71.03. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.34 and a current ratio of 1.34. Tencent has a one year low of $40.80 and a one year high of $81.35. The stock has a market cap of $751.90 billion, a PE ratio of 50.93 and a beta of 0.84.

Tencent (OTCMKTS:TCEHY) last released its quarterly earnings results on Thursday, November 12th. The technology company reported $0.42 EPS for the quarter, meeting analysts’ consensus estimates of $0.42. Tencent had a return on equity of 18.09% and a net margin of 24.40%. The company had revenue of $18.13 billion during the quarter, compared to analysts’ expectations of $17.80 billion. As a group, sell-side analysts predict that Tencent will post 1.62 EPS for the current fiscal year.

Tencent Company Profile

Tencent Holdings Limited, an investment holding company, provides value-added services (VAS) and Internet advertising services in Mainland China, the United States, Europe, and internationally. The company operates through VAS, FinTech and Business Services, Online Advertising, 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.

Further Reading: Return on Investment (ROI)

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