Tencent (OTCMKTS:TCEHY) Cut to Hold at Zacks Research

Zacks Research cut shares of Tencent (OTCMKTS:TCEHY) from a strong-buy rating to a hold rating in a research note published on Monday,Zacks.com reports.

Separately, Erste Group Bank downgraded Tencent from a “buy” rating to a “hold” rating in a research report on Wednesday, February 18th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $102.00.

Tencent Trading Down 1.1%

Shares of TCEHY stock opened at $64.36 on Monday. The stock’s fifty day moving average price is $70.43 and its two-hundred day moving average price is $77.24. The company has a market cap of $586.09 billion, a PE ratio of 19.04 and a beta of 0.30. Tencent has a fifty-two week low of $52.30 and a fifty-two week high of $87.68. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.35 and a current ratio of 1.36.

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.