Tencent (OTCMKTS:TCEHY) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

Tencent Holding Ltd. (OTCMKTS:TCEHY) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $76.96 and traded as high as $79.03. Tencent shares last traded at $78.94, with a volume of 1,149,735 shares.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Itau BBA Securities initiated coverage on Tencent in a report on Tuesday, October 7th. They issued an “outperform” rating on the stock. Barclays reissued an “overweight” rating and issued a $102.00 target price on shares of Tencent in a research note on Friday, November 14th. Erste Group Bank upgraded shares of Tencent from a “hold” rating to a “buy” rating in a report on Monday, November 10th. Finally, Zacks Research raised Tencent from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 20th. One equities research 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.com, the company presently has an average rating of “Buy” and a consensus target price of $102.00.

Tencent Price Performance

The company has a current ratio of 1.36, a quick ratio of 1.35 and a debt-to-equity ratio of 0.26. The company’s 50 day moving average is $79.26 and its 200-day moving average is $77.04. The stock has a market cap of $720.77 billion, a PE ratio of 24.29 and a beta of 0.22.

Tencent (OTCMKTS:TCEHY) last announced its earnings results on Thursday, November 13th. The technology company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.05. The business had revenue of $27.18 billion for the quarter, compared to analyst estimates of $26.32 billion. Tencent had a return on equity of 18.85% and a net margin of 29.87%. As a group, sell-side analysts predict 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.