Tencent (OTCMKTS:TCEHY) Share Price Crosses Above 200 Day Moving Average of $45.59

Tencent Holdings Limited (OTCMKTS:TCEHY)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $45.59 and traded as high as $50.40. Tencent shares last traded at $50.13, with a volume of 1,438,962 shares.

Analysts Set New Price Targets

Separately, New Street Research upgraded shares of Tencent to a “strong-buy” rating in a report on Monday, September 9th.

Tencent Price Performance

The stock has a market cap of $469.34 billion, a price-to-earnings ratio of 26.38 and a beta of 0.18. The stock’s 50 day moving average price is $47.52 and its two-hundred day moving average price is $45.59. The company has a quick ratio of 1.33, a current ratio of 1.35 and a debt-to-equity ratio of 0.31.

Tencent (OTCMKTS:TCEHY) last released its quarterly earnings data on Wednesday, August 14th. The technology company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.12. The business had revenue of $22.25 billion during the quarter. Tencent had a return on equity of 19.06% and a net margin of 24.22%. Equities research analysts forecast that Tencent Holdings Limited will post 2.74 EPS for the current fiscal year.

About Tencent

Tencent Holdings Limited, an investment holding company, offers value-added services (VAS), online advertising, fintech, and business services in the People's Republic of China and internationally. It operates through VAS, Online Advertising, FinTech and Business Services, and Others segments. The company's consumers business provides communication and services, such as instant messaging and social network; digital content including online games, videos, live streaming, news, music, and literature; fintech services, which includes mobile payment, wealth management, loans, and securities trading; and various tools, such as network security management, browser, navigation, application management, email, etc.