Tencent (OTCMKTS:TCEHY) Sets New 12-Month Low – Here’s Why

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on TCEHY. Erste Group Bank downgraded Tencent from a “buy” rating to a “hold” rating in a research report on Wednesday, February 18th. Zacks Research downgraded Tencent from a “strong-buy” rating to a “hold” rating in a report on Monday, March 23rd. Finally, Barclays reissued an “overweight” rating and issued a $106.00 price target on shares of Tencent in a report on Thursday, May 14th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.00.

Tencent Stock Performance

The company has a debt-to-equity ratio of 0.27, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market cap of $534.41 billion, a price-to-earnings ratio of 16.37 and a beta of 0.29. The firm has a fifty day simple moving average of $63.57 and a two-hundred day simple moving average of $71.77.

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.