Tencent (OTCMKTS:TCEHY – Get Free Report) issued its earnings results on Wednesday. The technology company reported $0.95 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.12), Zacks reports. Tencent had a return on equity of 18.98% and a net margin of 29.92%.
Tencent Stock Up 4.8%
Shares of OTCMKTS TCEHY traded up $2.80 on Wednesday, hitting $61.10. The company had a trading volume of 6,721,858 shares, compared to its average volume of 3,616,826. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.27. Tencent has a 12-month low of $57.91 and a 12-month high of $87.68. The firm has a market capitalization of $557.57 billion, a P/E ratio of 18.08 and a beta of 0.29. The business has a 50 day moving average of $64.17 and a two-hundred day moving average of $72.63.
Analyst Upgrades and Downgrades
TCEHY has been the subject of a number of research reports. Zacks Research downgraded Tencent from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 23rd. Erste Group Bank cut Tencent from a “buy” rating to a “hold” rating in a report on Wednesday, February 18th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $102.00.
Tencent Company Profile
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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