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Tencent (OTCMKTS:TCEHY) Stock Passes Above 200-Day Moving Average - Here's What Happened

Tencent logo with Computer and Technology background

Tencent Holdings Limited (OTCMKTS:TCEHY - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $58.80 and traded as high as $65.83. Tencent shares last traded at $65.73, with a volume of 2,593,918 shares.

Analyst Upgrades and Downgrades

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

Check Out Our Latest Report on TCEHY

Tencent Stock Performance

The firm has a market capitalization of $595.60 billion, a price-to-earnings ratio of 34.11 and a beta of 0.11. The company has a quick ratio of 1.33, a current ratio of 1.35 and a debt-to-equity ratio of 0.31. The stock has a 50-day moving average price of $62.78 and a 200 day moving average price of $59.05.

Tencent (OTCMKTS:TCEHY - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The technology company reported $0.76 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.88 by ($0.12). Tencent had a net margin of 24.22% and a return on equity of 19.06%. The business had revenue of $25 billion during the quarter, compared to analyst estimates of $24.19 billion. On average, analysts forecast that Tencent Holdings Limited will post 2.74 EPS for the current year.

Tencent Increases Dividend

The company also recently disclosed a dividend, which will be paid on Monday, June 16th. Shareholders of record on Tuesday, May 20th will be paid a $0.5102 dividend. The ex-dividend date is Monday, May 19th. This represents a yield of 0.77%. This is a boost from Tencent's previous dividend of $0.27. Tencent's payout ratio is currently 16.95%.

About Tencent

(Get Free Report)

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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