Tencent (TCEHY) to Post Earnings on Wednesday

Tencent (OTCMKTS:TCEHY) is expected to be releasing its results after the market closes on Wednesday, August 12th. Analysts expect Tencent to announce earnings of $1.08 per share and revenue of $29.8413 billion for the quarter.

Tencent Trading Up 0.3%

TCEHY stock opened at $62.78 on Wednesday. The company’s 50-day simple moving average is $57.57 and its 200-day simple moving average is $63.25. The company has a quick ratio of 1.42, a current ratio of 1.43 and a debt-to-equity ratio of 0.27. Tencent has a 52-week low of $52.84 and a 52-week high of $87.68. The firm has a market cap of $570.83 billion, a P/E ratio of 17.54 and a beta of 0.27.

Wall Street Analysts Forecast Growth

Separately, Barclays reaffirmed an “overweight” rating and issued a $106.00 price target on shares of Tencent in a report on Thursday, May 14th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Tencent presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

About Tencent

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.