Tencent (OTCMKTS:TCEHY) Stock Rating Lowered by Erste Group Bank

Tencent (OTCMKTS:TCEHY) was downgraded by analysts at Erste Group Bank from a “buy” rating to a “hold” rating in a report released on Wednesday, Marketbeat Ratings reports.

Several other equities research analysts have also issued reports on the company. Zacks Research raised Tencent from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 20th. Barclays reissued an “overweight” rating and set a $102.00 target price on shares of Tencent in a report on Friday, November 14th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $102.00.

Tencent Stock Performance

Shares of TCEHY stock opened at $68.13 on Wednesday. The stock has a market capitalization of $620.42 billion, a price-to-earnings ratio of 20.96 and a beta of 0.27. Tencent has a one year low of $52.30 and a one year high of $87.68. The company’s 50-day simple moving average is $76.01 and its 200-day simple moving average is $78.62. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.35 and a current ratio of 1.36.

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.