Tencent (OTCMKTS:TCEHY) Shares Pass Above 200 Day Moving Average - What's Next?

Key Points

• Tencent's stock price has surpassed its 200-day moving average of $62.13, reaching a high of $69.87 during trading, with shares last priced at $69.44.
• Despite reporting earnings of $0.76 per share, Tencent missed analysts' expectations of $0.88, although revenue of $25 billion exceeded projections.
• The company recently increased its dividend from $0.27 to $0.5102, representing a yield of 0.77%, with a dividend payout ratio of 16.95%.

Tencent Holding Ltd. (OTCMKTS:TCEHY - Get Free Report) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $62.13 and traded as high as $69.87. Tencent shares last traded at $69.44, with a volume of 1,356,873 shares traded.

Analyst Upgrades and Downgrades

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

Tencent Price Performance

The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.30 and a current ratio of 1.30. The company's 50 day moving average price is $65.67 and its 200 day moving average price is $62.52. The company has a market cap of $622.44 billion, a price-to-earnings ratio of 23.02 and a beta of 0.09.

Tencent (OTCMKTS:TCEHY - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The technology company reported $0.76 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.12). The firm had revenue of $25 billion for the quarter, compared to the consensus estimate of $24.19 billion. Tencent had a return on equity of 19.82% and a net margin of 29.39%. On average, equities research analysts predict that Tencent Holding Ltd. will post 2.74 earnings per share for the current fiscal year.

Tencent Increases Dividend

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

Tencent Company Profile

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.