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Tencent Holding Ltd. (TCEHY) Gains But Lags Market: What You Should Know
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Tencent Holding Ltd. (TCEHY - Free Report) closed the most recent trading day at $25.82, moving +0.55% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.63%. Meanwhile, the Dow gained 1.07%, and the Nasdaq, a tech-heavy index, added 0.3%.
Heading into today, shares of the company had lost 28.67% over the past month, lagging the Computer and Technology sector's gain of 0.92% and the S&P 500's gain of 2.94% in that time.
Investors will be hoping for strength from Tencent Holding Ltd. as it approaches its next earnings release. 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 $20.32 billion, down 7.65% from the year-ago period.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about 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 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 #3 (Hold) right now.
Valuation is also important, so investors should note that Tencent Holding Ltd. has a Forward P/E ratio of 14.51 right now. For comparison, its industry has an average Forward P/E of 20.19, which means Tencent Holding Ltd. is trading at a discount to the group.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 51, putting it in the top 21% 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) Gains But Lags Market: What You Should Know
Tencent Holding Ltd. (TCEHY - Free Report) closed the most recent trading day at $25.82, moving +0.55% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.63%. Meanwhile, the Dow gained 1.07%, and the Nasdaq, a tech-heavy index, added 0.3%.
Heading into today, shares of the company had lost 28.67% over the past month, lagging the Computer and Technology sector's gain of 0.92% and the S&P 500's gain of 2.94% in that time.
Investors will be hoping for strength from Tencent Holding Ltd. as it approaches its next earnings release. 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 $20.32 billion, down 7.65% from the year-ago period.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about 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 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 #3 (Hold) right now.
Valuation is also important, so investors should note that Tencent Holding Ltd. has a Forward P/E ratio of 14.51 right now. For comparison, its industry has an average Forward P/E of 20.19, which means Tencent Holding Ltd. is trading at a discount to the group.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 51, putting it in the top 21% 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.