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Tencent Holding Ltd. (TCEHY) Stock Moves -0.04%: What You Should Know

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Zacks Equity Research
·2 min read
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Tencent Holding Ltd. (TCEHY) closed the most recent trading day at $97.75, moving -0.04% from the previous trading session. This change traded in line with S&P 500. Meanwhile, the Dow gained 0.2%, and the Nasdaq, a tech-heavy index, lost 0.25%.

Coming into today, shares of the company had gained 25.55% in the past month. In that same time, the Computer and Technology sector gained 7.76%, while the S&P 500 gained 2.37%.

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. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $19.51 billion, up 29.93% from the year-ago period.

Investors should also note any recent changes to analyst estimates for TCEHY. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.46% higher within the past month. TCEHY currently has a Zacks Rank of #3 (Hold).

Investors should also note TCEHY's current valuation metrics, including its Forward P/E ratio of 39.87. This represents a premium compared to its industry's average Forward P/E of 38.92.

The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 172, putting it in the bottom 33% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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