Tencent Holdings Limited (OTCMKTS:TCEHY – Get Free Report) reached a new 52-week high during trading on Thursday . The company traded as high as $47.48 and last traded at $47.15, with a volume of 4646947 shares. The stock had previously closed at $44.12.
Wall Street Analysts Forecast Growth
Separately, Barclays lowered their price target on Tencent from $50.00 to $46.00 and set an “overweight” rating for the company in a research report on Wednesday, January 31st.
Check Out Our Latest Stock Report on TCEHY
Tencent Trading Up 6.9 %
Tencent (OTCMKTS:TCEHY – Get Free Report) last released its quarterly earnings results on Wednesday, March 20th. The technology company reported $0.52 earnings per share for the quarter. The business had revenue of $21.54 billion for the quarter. Tencent had a net margin of 18.88% and a return on equity of 14.60%. On average, sell-side analysts anticipate that Tencent Holdings Limited will post 2.68 earnings per share for the current year.
Tencent Increases Dividend
The business also recently declared an annual dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, May 20th will be issued a dividend of $0.3839 per share. This represents a yield of 0.88%. The ex-dividend date of this dividend is Friday, May 17th. This is a positive change from Tencent’s previous annual dividend of $0.10. Tencent’s payout ratio is currently 16.17%.
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.
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