Tencent (OTCMKTS:TCEHY) Announces Quarterly Earnings Results

Tencent (OTCMKTS:TCEHY) announced its earnings results on Wednesday. The technology company reported $1.00 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.08), Zacks reports. Tencent had a net margin of 30.60% and a return on equity of 19.42%.

Tencent Trading Down 5.8%

Shares of Tencent stock traded down $3.44 during trading on Wednesday, hitting $56.08. 4,261,894 shares of the company were exchanged, compared to its average volume of 3,876,816. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.43 and a quick ratio of 1.42. The firm has a market capitalization of $509.89 billion, a P/E ratio of 15.66 and a beta of 0.27. The firm’s fifty day moving average price is $58.07 and its 200 day moving average price is $62.65. Tencent has a 1-year low of $52.84 and a 1-year high of $87.68.

Wall Street Analyst Weigh In

Separately, Barclays reiterated an “overweight” rating and set a $106.00 price objective on shares of Tencent in a research note on Thursday, May 14th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $106.00.

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.