Tencent (OTCMKTS:TCEHY) Downgraded to Hold Rating by Zacks Research

Tencent (OTCMKTS:TCEHY) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Separately, Erste Group Bank cut Tencent from a “buy” rating to a “hold” rating in a report on Wednesday, February 18th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $102.00.

Tencent Stock Up 0.8%

Shares of OTCMKTS:TCEHY opened at $65.09 on Monday. The business’s 50 day moving average is $70.77 and its 200 day moving average is $77.33. The stock has a market cap of $592.73 billion, a P/E ratio of 19.26 and a beta of 0.30. Tencent has a 52-week low of $52.30 and a 52-week high of $87.68. The company has a quick ratio of 1.35, a current ratio of 1.36 and a debt-to-equity ratio of 0.26.

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.