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Tencent Holding Ltd. (TCEHY) Dips More Than Broader Markets: What You Should Know
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Tencent Holding Ltd. (TCEHY - Free Report) closed at $29.73 in the latest trading session, marking a -1.43% move from the prior day. This change lagged the S&P 500's daily loss of 0.8%. Elsewhere, the Dow lost 0.3%, while the tech-heavy Nasdaq lost 0.03%.
Heading into today, shares of the company had lost 16.04% over the past month, lagging the Computer and Technology sector's loss of 6.95% and the S&P 500's loss of 5.13% in that time.
Wall Street will be looking for positivity from Tencent Holding Ltd. as it approaches its next earnings report date. The company is expected to report EPS of $0.48, down 5.88% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $20.32 billion, down 7.65% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.77 per share and revenue of $80.81 billion, which would represent changes of -10.15% and -6.93%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Tencent Holding Ltd.These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Tencent Holding Ltd. is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Tencent Holding Ltd. has a Forward P/E ratio of 17.04 right now. Its industry sports an average Forward P/E of 19.73, so we one might conclude that Tencent Holding Ltd. is trading at a discount comparatively.
The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 50, which puts it in the top 20% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Tencent Holding Ltd. (TCEHY) Dips More Than Broader Markets: What You Should Know
Tencent Holding Ltd. (TCEHY - Free Report) closed at $29.73 in the latest trading session, marking a -1.43% move from the prior day. This change lagged the S&P 500's daily loss of 0.8%. Elsewhere, the Dow lost 0.3%, while the tech-heavy Nasdaq lost 0.03%.
Heading into today, shares of the company had lost 16.04% over the past month, lagging the Computer and Technology sector's loss of 6.95% and the S&P 500's loss of 5.13% in that time.
Wall Street will be looking for positivity from Tencent Holding Ltd. as it approaches its next earnings report date. The company is expected to report EPS of $0.48, down 5.88% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $20.32 billion, down 7.65% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.77 per share and revenue of $80.81 billion, which would represent changes of -10.15% and -6.93%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Tencent Holding Ltd.These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Tencent Holding Ltd. is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Tencent Holding Ltd. has a Forward P/E ratio of 17.04 right now. Its industry sports an average Forward P/E of 19.73, so we one might conclude that Tencent Holding Ltd. is trading at a discount comparatively.
The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 50, which puts it in the top 20% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.