TENCENT HOLDING/ADR (OTCMKTS:TCEHY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.
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. “
Several other analysts also recently issued reports on the company. Jefferies Financial Group began coverage on TENCENT HOLDING/ADR in a research note on Monday, August 5th. They set a “buy” rating on the stock. Barclays reaffirmed an “overweight” rating and issued a $54.00 price objective (down previously from $59.00) on shares of TENCENT HOLDING/ADR in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $167.33.
TENCENT HOLDING/ADR (OTCMKTS:TCEHY) last issued its earnings results on Wednesday, August 14th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.02. The company had revenue of $13.02 billion for the quarter, compared to the consensus estimate of $13.28 billion. TENCENT HOLDING/ADR had a return on equity of 19.12% and a net margin of 26.22%. As a group, equities analysts anticipate that TENCENT HOLDING/ADR will post 1.26 EPS for the current fiscal year.
About TENCENT HOLDING/ADR
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.
Featured Story: Oversold
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for TENCENT HOLDING/ADR Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TENCENT HOLDING/ADR and related companies with MarketBeat.com's FREE daily email newsletter.