Tencent (OTCMKTS:TCEHY) Shares Pass Above Two Hundred Day Moving Average - What's Next?

Key Points

• Tencent's stock price has recently crossed above its 200-day moving average, showing a high of $77.20, which indicates potential positive momentum in the market.
• Barclays has restated an "overweight" rating on Tencent shares, suggesting analysts are optimistic about the company's future performance.
• Tencent recently declared a dividend of $0.5102, representing a significant increase from the previous payout, reflecting a 77.0% yield and a commitment to returning value to shareholders.

Tencent Holding Ltd. (OTCMKTS:TCEHY - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $63.70 and traded as high as $77.20. Tencent shares last traded at $77.09, with a volume of 4,511,219 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Barclays restated an "overweight" rating on shares of Tencent in a research report on Thursday, May 15th.

Tencent Price Performance

The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $706.58 billion, a price-to-earnings ratio of 26.13 and a beta of 0.09. The stock has a 50-day moving average price of $66.92 and a 200 day moving average price of $63.70.

Tencent (OTCMKTS:TCEHY - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The technology company reported $0.76 earnings per share for the quarter, missing analysts' consensus estimates of $0.88 by ($0.12). The company had revenue of $25 billion during the quarter, compared to analysts' expectations of $24.19 billion. Tencent had a net margin of 29.39% and a return on equity of 19.82%. As a group, equities research analysts expect that Tencent Holding Ltd. will post 2.74 earnings per share for the current year.

Tencent Increases Dividend

The business also recently declared a dividend, which was paid on Monday, June 16th. Investors of record on Tuesday, May 20th were paid a $0.5102 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a yield of 77.0%. This is a boost from Tencent's previous dividend of $0.27. Tencent's dividend payout ratio is 16.95%.

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.

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