Tencent (TCEHY) Downgraded to “Hold” at Zacks Investment Research
Zacks Investment Research cut shares of Tencent (OTCMKTS:TCEHY) from a buy rating to a hold rating in a report issued on Saturday 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. “
A number of other analysts also recently issued reports on TCEHY. Wells Fargo & Co began coverage on Tencent in a research report on Wednesday, September 27th. They set an outperform rating for the company. Benchmark reissued a buy rating on shares of Tencent in a research report on Thursday, November 16th. Finally, Barclays raised their price objective on Tencent from $49.00 to $59.00 and gave the stock an overweight rating in a research report on Monday, November 20th.
Tencent (OTCMKTS:TCEHY) last issued its quarterly earnings data on Wednesday, November 15th. The technology company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.02). Tencent had a return on equity of 24.53% and a net margin of 28.44%. sell-side analysts expect that Tencent will post 1.03 earnings per share for the current fiscal year.
Tencent Company Profile
Tencent Holdings Limited is an investment holding company principally involved in the provision of value-added services (VAS) and online advertising services. The Company operates through three main segments. The VAS segment is mainly involved in provision of online/mobile games, community value-added services and applications across various Internet and mobile platforms.
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