Tencent (OTCMKTS:TCEHY) Issues Earnings Results

Tencent (OTCMKTS:TCEHY) announced its earnings results on Wednesday. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01, reports. The company had revenue of $21.37 billion during the quarter, compared to analysts’ expectations of $22.28 billion. Tencent had a net margin of 32.33% and a return on equity of 14.60%.

Tencent Stock Performance

Shares of TCEHY stock traded down $0.15 on Friday, hitting $40.95. The stock had a trading volume of 3,093,087 shares, compared to its average volume of 2,411,314. The firm has a market capitalization of $390.16 billion, a price-to-earnings ratio of 23.62 and a beta of 0.33. The stock’s 50 day moving average is $38.98 and its 200-day moving average is $41.43. Tencent has a 52-week low of $34.58 and a 52-week high of $52.88.

Analysts Set New Price Targets

A number of research firms recently issued reports on TCEHY. Barclays upgraded shares of Tencent from an “equal weight” rating to an “overweight” rating in a report on Thursday, August 17th. Investec upgraded shares of Tencent from a “sell” rating to a “hold” rating in a report on Tuesday, September 12th.

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.