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Tencent Holding Ltd. (TCEHY) Gains As Market Dips: What You Should Know
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Tencent Holding Ltd. (TCEHY - Free Report) closed the most recent trading day at $26.28, moving +1.74% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.75%. Meanwhile, the Dow lost 0.39%, and the Nasdaq, a tech-heavy index, added 0.13%.
Coming into today, shares of the company had lost 23.63% in the past month. In that same time, the Computer and Technology sector gained 0.71%, while the S&P 500 gained 4.98%.
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%. Our most recent consensus estimate is calling for quarterly revenue of $20.32 billion, down 7.65% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.77 per share and revenue of $80.81 billion. These totals would mark changes of -10.15% and -6.93%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Tencent Holding Ltd.These revisions typically reflect the latest short-term business trends, which can change frequently. 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, 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).
In terms of valuation, Tencent Holding Ltd. is currently trading at a Forward P/E ratio of 14.59. This valuation marks a discount compared to its industry's average Forward P/E of 20.33.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 77, putting it in the top 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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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Tencent Holding Ltd. (TCEHY) Gains As Market Dips: What You Should Know
Tencent Holding Ltd. (TCEHY - Free Report) closed the most recent trading day at $26.28, moving +1.74% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.75%. Meanwhile, the Dow lost 0.39%, and the Nasdaq, a tech-heavy index, added 0.13%.
Coming into today, shares of the company had lost 23.63% in the past month. In that same time, the Computer and Technology sector gained 0.71%, while the S&P 500 gained 4.98%.
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%. Our most recent consensus estimate is calling for quarterly revenue of $20.32 billion, down 7.65% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.77 per share and revenue of $80.81 billion. These totals would mark changes of -10.15% and -6.93%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Tencent Holding Ltd.These revisions typically reflect the latest short-term business trends, which can change frequently. 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, 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).
In terms of valuation, Tencent Holding Ltd. is currently trading at a Forward P/E ratio of 14.59. This valuation marks a discount compared to its industry's average Forward P/E of 20.33.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 77, putting it in the top 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.