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Tencent Holding Ltd. (TCEHY) Dips More Than Broader Markets: What You Should Know

Zacks Equity Research
·3-min read

In the latest trading session, Tencent Holding Ltd. (TCEHY) closed at $35.21, marking a -0.28% move from the previous day. This change lagged the S&P 500's 0.2% loss on the day. At the same time, the Dow lost 0.14%, and the tech-heavy Nasdaq lost 0.12%.

Coming into today, shares of the company had lost 10.08% in the past month. In that same time, the Computer and Technology sector lost 4.64%, while the S&P 500 lost 3.29%.

Wall Street will be looking for positivity from Tencent Holding Ltd. as it approaches its next earnings report date. On that day, Tencent Holding Ltd. is projected to report earnings of $0.48 per share, which would represent a year-over-year decline of 5.88%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $21.35 billion, down 2.98% from the year-ago period.

TCEHY's full-year Zacks Consensus Estimates are calling for earnings of $1.77 per share and revenue of $84.99 billion. These results would represent year-over-year changes of -10.15% and -2.11%, respectively.

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Investors might also notice recent changes to analyst estimates for Tencent Holding Ltd.These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

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. The Zacks Consensus EPS estimate remained stagnant within the past month. Tencent Holding Ltd. is holding a Zacks Rank of #1 (Strong Buy) right now.

Looking at its valuation, Tencent Holding Ltd. is holding a Forward P/E ratio of 19.95. This represents a no noticeable deviation compared to its industry's average Forward P/E of 19.95.

The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 61, which puts it in the top 25% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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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Zacks Investment Research