Tencent (TCEHY) to Release Quarterly Earnings on Wednesday

Tencent (OTCMKTS:TCEHY) is expected to announce its results before the market opens on Wednesday, March 18th. Analysts expect the company to announce earnings of $0.98 per share and revenue of $27.3054 billion for the quarter.

Tencent Trading Up 10.4%

Shares of TCEHY stock opened at $73.96 on Wednesday. The company has a market capitalization of $673.51 billion, a price-to-earnings ratio of 22.76 and a beta of 0.30. Tencent has a twelve month low of $52.30 and a twelve month high of $87.68. 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 firm has a 50-day moving average price of $73.18 and a 200 day moving average price of $78.02.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on TCEHY shares. Zacks Research upgraded Tencent from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 20th. Barclays restated an “overweight” rating and set a $102.00 price objective on shares of Tencent in a report on Friday, November 14th. Finally, Erste Group Bank lowered Tencent from a “buy” rating to a “hold” rating in a research report on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Tencent has an average rating of “Buy” and an average target price of $102.00.

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.