Zacks Research Upgrades Tencent (OTCMKTS:TCEHY) to Strong-Buy

Tencent (OTCMKTS:TCEHY) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Thursday,Zacks.com reports.

TCEHY has been the subject of several other reports. Erste Group Bank raised shares of Tencent from a “hold” rating to a “buy” rating in a report on Monday, November 10th. Itau BBA Securities started coverage on Tencent in a report on Tuesday, October 7th. They issued an “outperform” rating on the stock. Finally, Barclays reaffirmed an “overweight” rating and issued a $102.00 target price on shares of Tencent in a research note on Friday, November 14th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $102.00.

Tencent Stock Up 1.6%

Shares of TCEHY traded up $1.21 during trading hours on Thursday, hitting $79.04. The stock had a trading volume of 2,827,205 shares, compared to its average volume of 3,026,288. The firm has a 50 day simple moving average of $82.63 and a 200-day simple moving average of $73.74. Tencent has a 1-year low of $46.76 and a 1-year high of $87.68. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a market capitalization of $723.51 billion, a P/E ratio of 25.58 and a beta of 0.15.

Tencent (OTCMKTS:TCEHY) last announced its quarterly earnings results on Thursday, November 13th. The technology company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.05. Tencent had a return on equity of 19.06% and a net margin of 29.55%.The business had revenue of $27.18 billion during the quarter, compared to the consensus estimate of $26.32 billion. Sell-side analysts predict that Tencent will post 2.74 EPS for the current fiscal year.

About Tencent

Tencent Holdings Limited, an investment holding company, offers value-added services (VAS), online advertising, fintech, and business services in the People's Republic of China and internationally. It operates through VAS, Online Advertising, FinTech and Business Services, and Others segments. The company's consumers business provides communication and services, such as instant messaging and social network; digital content including online games, videos, live streaming, news, music, and literature; fintech services, which includes mobile payment, wealth management, loans, and securities trading; and various tools, such as network security management, browser, navigation, application management, email, etc.