Tencent (OTCMKTS:TCEHY) Announces Quarterly Earnings Results, Misses Expectations By $0.12 EPS

Tencent (OTCMKTS:TCEHY) released its quarterly earnings results on Wednesday. The technology company reported $0.95 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.12), Zacks reports. Tencent had a net margin of 29.92% and a return on equity of 18.98%.

Tencent Stock Up 5.7%

Shares of OTCMKTS TCEHY traded up $3.35 during mid-day trading on Wednesday, reaching $61.65. 6,518,572 shares of the company were exchanged, compared to its average volume of 3,615,023. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.27. The stock has a market cap of $562.60 billion, a price-to-earnings ratio of 18.24 and a beta of 0.29. Tencent has a 1 year low of $57.91 and a 1 year high of $87.68. The firm has a 50-day moving average of $64.17 and a 200 day moving average of $72.63.

Wall Street Analyst Weigh In

Several analysts recently weighed in on TCEHY shares. Zacks Research lowered Tencent from a “strong-buy” rating to a “hold” rating in a report on Monday, March 23rd. Erste Group Bank downgraded Tencent from a “buy” rating to a “hold” rating in a research report on Wednesday, February 18th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Tencent presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.00.

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.