Tencent (OTCMKTS:TCEHY) Downgraded to “Strong Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Tencent (OTCMKTS:TCEHY – Get Rating) from a hold rating to a strong sell rating in a research note released on Saturday, Zacks.com reports.

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 reports about the company. Barclays lowered their target price on Tencent from $76.00 to $55.00 and set an overweight rating on the stock in a research note on Friday, March 25th. Investec downgraded Tencent from a buy rating to a hold rating in a research note on Friday, February 11th. JPMorgan Chase & Co. upgraded Tencent from an underweight rating to an overweight rating in a research note on Monday, May 16th. Finally, Mizuho lowered their target price on Tencent from $450.00 to $400.00 in a research note on Monday, May 2nd. Three analysts have rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Tencent has a consensus rating of Hold and an average price target of $129.24.

OTCMKTS:TCEHY opened at $42.04 on Friday. The stock’s 50 day moving average price is $46.14 and its 200 day moving average price is $53.91. Tencent has a 52-week low of $37.92 and a 52-week high of $81.35. The company has a market capitalization of $404.10 billion, a PE ratio of 13.02 and a beta of 0.41. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.32.

The firm also recently declared a dividend, which will be paid on Tuesday, June 21st. Stockholders of record on Friday, May 20th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, May 19th. This represents a dividend yield of 3.2%. Tencent’s dividend payout ratio is currently 5.57%.

Tencent Company Profile (Get Rating)

Tencent Holdings Limited, an investment holding company, provides value-added services (VAS) and Online advertising services in Mainland China and internationally. The company operates through VAS, Online Advertising, FinTech and Business Services, and Others segments. It offers online games and social network services; FinTech and cloud services, and online advertising services.

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