Tencent (OTCMKTS:TCEHY) Reaches New 1-Year Low – What’s Next?

Tencent Holding Ltd. (OTCMKTS:TCEHY) shares hit a new 52-week low on Monday . The company traded as low as $57.47 and last traded at $57.5150, with a volume of 260273 shares trading hands. The stock had previously closed at $58.69.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TCEHY. Erste Group Bank cut shares of Tencent from a “buy” rating to a “hold” rating in a report on Wednesday, February 18th. Barclays restated an “overweight” rating and set a $106.00 price objective on shares of Tencent in a research report on Thursday. Finally, Zacks Research downgraded shares of Tencent from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 23rd. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $106.00.

Tencent Price Performance

The company has a market capitalization of $522.64 billion, a price-to-earnings ratio of 16.01 and a beta of 0.29. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. The company’s 50 day simple moving average is $63.84 and its 200-day simple moving average is $72.14.

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.