Zacks Investment Research cut shares of Tencent (OTCMKTS:TCEHY) from a buy rating to a hold rating in a research note published on Saturday, January 20th.
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. “
Several other research analysts have also recently issued reports on the company. Barclays lifted their target price on Tencent from $49.00 to $59.00 and gave the company an overweight rating in a research report on Monday, November 20th. Wells Fargo & Co assumed coverage on Tencent in a research report on Wednesday, September 27th. They set an outperform rating on the stock. Finally, Benchmark reaffirmed a buy rating on shares of Tencent in a research report on Thursday, November 16th.
Tencent (OTCMKTS TCEHY) traded up $1.75 during trading on Friday, hitting $56.55. The company had a trading volume of 5,068,322 shares, compared to its average volume of 4,000,000. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.45. Tencent has a one year low of $26.03 and a one year high of $61.00.
Tencent (OTCMKTS:TCEHY) last issued its earnings results on Wednesday, November 15th. The technology company reported $0.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.02). The business had revenue of $9.78 billion during the quarter, compared to the consensus estimate of $9.39 billion. Tencent had a return on equity of 24.53% and a net margin of 28.44%. equities analysts predict that Tencent will post 1.06 earnings per share for the current fiscal year.
COPYRIGHT VIOLATION NOTICE: “Tencent (OTCMKTS:TCEHY) Downgraded to “Hold” at Zacks Investment Research” was reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this story on another publication, it was illegally copied and republished in violation of U.S. & international copyright & trademark law. The legal version of this story can be viewed at https://www.dispatchtribunal.com/2018/02/14/tencent-tcehy-cut-to-hold-at-zacks-investment-research.html.
Tencent Holdings Limited is an investment holding company principally involved in the provision of value-added services (VAS) and online advertising services. The Company operates through three main segments. The VAS segment is mainly involved in provision of online/mobile games, community value-added services and applications across various Internet and mobile platforms.
Get a free copy of the Zacks research report on Tencent (TCEHY)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Tencent Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tencent and related companies with MarketBeat.com's FREE daily email newsletter.