Tencent (OTCMKTS:TCEHY) Hits New 1-Year High at $47.75

Shares of Tencent Holdings Limited (OTCMKTS:TCEHY) hit a new 52-week high on Thursday . The stock traded as high as $47.75 and last traded at $47.63, with a volume of 2559966 shares changing hands. The stock had previously closed at $46.26.

Wall Street Analysts Forecast Growth

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

Tencent Price Performance

The firm has a fifty day moving average price of $39.41 and a two-hundred day moving average price of $38.50. The stock has a market capitalization of $449.88 billion, a PE ratio of 27.70 and a beta of 0.27.

Tencent (OTCMKTS:TCEHY) last released its earnings results on Wednesday, March 20th. The technology company reported $0.52 earnings per share for the quarter. The business had revenue of $21.54 billion during the quarter. Tencent had a return on equity of 14.60% and a net margin of 18.88%. On average, research 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. Stockholders of record on Monday, May 20th will be issued a $0.3839 dividend. The ex-dividend date of this dividend is Friday, May 17th. This represents a dividend yield of 0.88%. This is a positive change from Tencent’s previous annual dividend of $0.10. Tencent’s payout ratio is currently 22.75%.

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.