Zacks Investment Research downgraded shares of TENCENT HOLDING/ADR (OTCMKTS:TCEHY) from a hold rating to a strong sell rating in a research note released on Thursday morning.
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. “
Other research analysts have also recently issued reports about the stock. Barclays set a $59.00 price objective on shares of TENCENT HOLDING/ADR and gave the stock a buy rating in a research report on Saturday, July 28th. ValuEngine upgraded shares of TENCENT HOLDING/ADR from a hold rating to a buy rating in a research report on Tuesday, July 10th. Two research analysts have rated the stock with a sell rating and three have issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $61.50.
TENCENT HOLDING/ADR (OTCMKTS:TCEHY) last announced its quarterly earnings results on Wednesday, August 15th. The technology company reported $0.28 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.01). TENCENT HOLDING/ADR had a net margin of 28.68% and a return on equity of 22.75%. The company had revenue of $11.56 billion for the quarter, compared to the consensus estimate of $12.21 billion. As a group, sell-side analysts predict that TENCENT HOLDING/ADR will post 1.17 earnings per share for the current fiscal year.
TENCENT HOLDING/ADR Company Profile
Tencent Holdings Limited, an investment holding company, provides Internet value-added services (VAS) and online advertising services in Mainland China, Hong Kong, North America, Europe, other Asian countries, and internationally. The company operates through VAS, Online Advertising, and Others segments.
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