Tencent (OTCMKTS:TCEHY) Stock Passes Above 200-Day Moving Average – Here’s Why

Tencent Holding Ltd. (OTCMKTS:TCEHY) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $60.83 and traded as high as $63.72. Tencent shares last traded at $63.66, with a volume of 1,035,899 shares traded.

Wall Street Analysts Forecast Growth

Separately, Barclays reissued an “overweight” rating on shares of Tencent in a research note on Thursday, May 15th.

Tencent Price Performance

The stock’s fifty day moving average price is $64.84 and its 200-day moving average price is $60.83. The firm has a market cap of $583.48 billion, a price-to-earnings ratio of 21.58 and a beta of 0.11. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.30.

Tencent (OTCMKTS:TCEHY) last announced its quarterly earnings results on Wednesday, May 14th. The technology company reported $0.76 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.12). Tencent had a net margin of 29.39% and a return on equity of 19.82%. The business had revenue of $25 billion during the quarter, compared to analyst estimates of $24.19 billion. As a group, equities research analysts forecast that Tencent Holding Ltd. will post 2.74 earnings per share for the current fiscal year.

Tencent Increases Dividend

The firm also recently declared a dividend, which was paid on Monday, June 16th. Stockholders of record on Tuesday, May 20th were paid a $0.5102 dividend. This represents a dividend yield of 0.77%. The ex-dividend date of this dividend was Monday, May 19th. This is a positive change from Tencent’s previous dividend of $0.27. Tencent’s dividend payout ratio is 16.95%.

Tencent Company Profile

Tencent Holdings Limited, an investment holding company, offers value-added services (VAS), online advertising, fintech, and business services in the People's Republic of China and internationally. It operates through VAS, Online Advertising, FinTech and Business Services, and Others segments. The company's consumers business provides communication and services, such as instant messaging and social network; digital content including online games, videos, live streaming, news, music, and literature; fintech services, which includes mobile payment, wealth management, loans, and securities trading; and various tools, such as network security management, browser, navigation, application management, email, etc.