Tencent Holding Ltd. (OTCMKTS:TCEHY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday, November 2nd.
According to Zacks, “Tencent Holdings Limited is an Internet service portal. Tencent provides value-added Internet, mobile and telecom services and online advertising. Tencent’s leading Internet platforms in China are QQ Instant Messenger, QQ.com, QQ Games, Qzone, 3g.QQ.com, SoSo, PaiPai and Tenpay. It has brought together China’s largest Internet community, to meet the various needs of Internet users including communication, information, entertainment, e-commerce and others. Tencent Holdings Limited is headquartered in Shenzhen, the People’s Republic of China. “
Other research analysts also recently issued research reports about the company. Wells Fargo & Company started coverage on Tencent Holding in a report on Wednesday, September 27th. They set an “outperform” rating on the stock. Barclays PLC set a $46.00 target price on shares of Tencent Holding and gave the company a “buy” rating in a research report on Thursday, August 10th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $49.50.
Shares of Tencent Holding (OTCMKTS TCEHY) opened at $50.16 on Thursday. The firm has a market capitalization of $473,464.38, a P/E ratio of 66.46, a price-to-earnings-growth ratio of 1.67 and a beta of 0.91. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.36 and a current ratio of 1.36. Tencent Holding has a 1-year low of $23.00 and a 1-year high of $50.60.
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Tencent Holding Company Profile
Tencent Holdings Limited is an investment holding company principally involved in the provision of value-added services (VAS) and online advertising services. The Company operates through three main segments. The VAS segment is mainly involved in provision of online/mobile games, community value-added services and applications across various Internet and mobile platforms.
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