Tencent (OTCMKTS:TCEHY – Get Free Report) released its quarterly earnings results on Wednesday. The technology company reported $1.00 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.08), Zacks reports. Tencent had a return on equity of 19.42% and a net margin of 30.60%.
Tencent Price Performance
Shares of Tencent stock traded down $3.25 on Wednesday, hitting $56.27. 3,535,245 shares of the company were exchanged, compared to its average volume of 3,864,602. The company has a quick ratio of 1.42, a current ratio of 1.43 and a debt-to-equity ratio of 0.27. The company has a 50-day moving average price of $58.07 and a 200 day moving average price of $62.65. The stock has a market capitalization of $511.64 billion, a price-to-earnings ratio of 15.72 and a beta of 0.27. Tencent has a 1-year low of $52.84 and a 1-year high of $87.68.
Analyst Upgrades and Downgrades
Separately, Barclays reissued an “overweight” rating and set a $106.00 target price on shares of Tencent in a report on Thursday, May 14th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Tencent presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.00.
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.
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