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Surging Earnings Estimates Signal Good News for Tencent Holding (TCEHY)

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Tencent Holding Ltd. (TCEHY - Free Report) is an investment holding company providing Internet value-added services and online advertising services, which could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on TCEHY’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Tencent Holding could be a solid choice for investors.

Current Quarter Estimates for TCEHY

In the past 30 days, one estimate have gone higher for Tencent Holding while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 24 cents a share 30 days ago, to 27 cents today, a move of 12.5%.

Current Year Estimates for TCEHY

Meanwhile, Tencent Holding’s current year figures are also looking quite promising, with one estimate moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 94 cents per share 30 days ago to $1.03 per share today, an increase of 9.6%.

Bottom Line

The stock has also started to move higher lately, adding 7.4% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank  stocks here.

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