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

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

Wall Street Analysts Forecast Growth

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

Tencent Stock Down 2.3%

The business’s 50-day simple moving average is $63.84 and its 200 day simple moving average is $72.14. 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 firm has a market cap of $522.64 billion, a PE ratio of 16.01 and a beta of 0.29.

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.