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

Tencent Holding Ltd. (OTCMKTS:TCEHY) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $75.46 and traded as high as $77.05. Tencent shares last traded at $76.98, with a volume of 1,671,461 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on TCEHY shares. Erste Group Bank upgraded shares of Tencent from a “hold” rating to a “buy” rating in a research report on Monday, November 10th. Zacks Research upgraded Tencent from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 20th. Itau BBA Securities initiated coverage on Tencent in a research note on Tuesday, October 7th. They set an “outperform” rating for the company. Finally, Barclays restated an “overweight” rating and set a $102.00 target price on shares of Tencent in a research note on Friday, November 14th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to data from MarketBeat, Tencent has a consensus rating of “Buy” and an average target price of $102.00.

Tencent Stock Down 0.2%

The firm’s 50-day simple moving average is $80.64 and its 200 day simple moving average is $75.46. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.25 and a current ratio of 1.25. The company has a market capitalization of $703.97 billion, a PE ratio of 23.69 and a beta of 0.21.

Tencent (OTCMKTS:TCEHY) last released its quarterly earnings results on Thursday, November 13th. The technology company reported $1.07 earnings per share 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 analysts’ expectations of $26.32 billion. Tencent had a return on equity of 19.47% and a net margin of 29.87%. As a group, equities research analysts forecast that Tencent Holding Ltd. will post 2.74 earnings per share for the current year.

Tencent Company Profile

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.