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Tencent Holding Ltd. (TCEHY) closed at $89.31 in the latest trading session, marking a -0.56% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.93%. At the same time, the Dow lost 2.03%, and the tech-heavy Nasdaq lost 2%.
Heading into today, shares of the company had gained 22.99% over the past month, outpacing the Computer and Technology sector's gain of 3.87% and the S&P 500's gain of 1.48% in that time.
TCEHY will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.50, up 31.58% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $19.58 billion, up 30.36% from the year-ago period.
Investors might also notice recent changes to analyst estimates for TCEHY. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.46% higher. TCEHY is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, TCEHY is holding a Forward P/E ratio of 36.83. This represents a premium compared to its industry's average Forward P/E of 35.7.
The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 101, which puts it in the top 40% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow TCEHY in the coming trading sessions, be sure to utilize Zacks.com.
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Tencent Holding Ltd. (TCEHY) : Free Stock Analysis Report
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