Tencent (OTCMKTS:TCEHY) Sets New 52-Week High at $47.48

Tencent Holdings Limited (OTCMKTS:TCEHY) shares hit a new 52-week high on Thursday . The company traded as high as $47.48 and last traded at $47.15, with a volume of 4646947 shares changing hands. The stock had previously closed at $44.12.

Analyst Upgrades and Downgrades

Separately, Barclays reduced their target price on Tencent from $50.00 to $46.00 and set an “overweight” rating for the company in a research note on Wednesday, January 31st.

Tencent Price Performance

The stock has a fifty day moving average of $38.36 and a 200 day moving average of $38.20. The stock has a market cap of $445.35 billion, a price-to-earnings ratio of 26.42 and a beta of 0.27.

Tencent (OTCMKTS:TCEHY) last posted its quarterly earnings results on Wednesday, March 20th. The technology company reported $0.52 earnings per share (EPS) for the quarter. The company had revenue of $21.54 billion during the quarter. Tencent had a net margin of 18.88% and a return on equity of 14.60%. As a group, equities analysts expect that Tencent Holdings Limited will post 2.68 earnings per share for the current fiscal year.

Tencent Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, May 20th will be issued a $0.3839 dividend. This represents a yield of 0.88%. This is a positive change from Tencent’s previous annual dividend of $0.10. The ex-dividend date of this dividend is Friday, May 17th. Tencent’s dividend payout ratio is presently 16.17%.

About Tencent

Tencent Holdings Limited, an investment holding company, offers value-added services (VAS), online advertising, fintech, and business services in the People's Republic of China and internationally. It operates through VAS, Online Advertising, FinTech and Business Services, and Others segments. The company's consumers business provides communication and services, such as instant messaging and social network; digital content including online games, videos, live streaming, news, music, and literature; fintech services, which includes mobile payment, wealth management, loans, and securities trading; and various tools, such as network security management, browser, navigation, application management, email, etc.