NetEase (NASDAQ:NTES) Given Equal Weight Rating at Morgan Stanley

Morgan Stanley reaffirmed their equal weight rating on shares of NetEase (NASDAQ:NTES) in a report issued on Thursday, Benzinga reports. The firm currently has a $100.00 target price on the technology company’s stock.

A number of other research firms have also weighed in on NTES. StockNews.com lowered shares of NetEase from a strong-buy rating to a buy rating in a research report on Thursday. HSBC dropped their price target on shares of NetEase from $130.00 to $126.00 and set a buy rating on the stock in a research note on Wednesday, April 24th. Barclays began coverage on shares of NetEase in a research report on Thursday, June 13th. They issued an equal weight rating and a $104.00 price objective for the company. Finally, Benchmark boosted their target price on NetEase from $144.00 to $145.00 and gave the stock a buy rating in a research report on Friday, May 24th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $123.00.

NetEase Stock Performance

Shares of NASDAQ:NTES opened at $96.06 on Thursday. NetEase has a one year low of $81.30 and a one year high of $118.89. The company has a 50-day simple moving average of $94.80 and a 200-day simple moving average of $98.54. The stock has a market capitalization of $61.69 billion, a price-to-earnings ratio of 14.89, a PEG ratio of 1.88 and a beta of 0.52.

NetEase (NASDAQ:NTES) last posted its quarterly earnings data on Thursday, May 23rd. The technology company reported $1.63 earnings per share for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.05). NetEase had a return on equity of 24.19% and a net margin of 28.75%. The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.61 billion. As a group, research analysts forecast that NetEase will post 6.86 EPS for the current fiscal year.

NetEase Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Thursday, June 6th were given a dividend of $0.495 per share. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.06%. NetEase’s payout ratio is 30.54%.

Institutional Investors Weigh In On NetEase

Institutional investors and hedge funds have recently modified their holdings of the company. Aurora Investment Counsel raised its holdings in NetEase by 6.8% during the first quarter. Aurora Investment Counsel now owns 24,766 shares of the technology company’s stock worth $2,563,000 after purchasing an additional 1,568 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in shares of NetEase by 20.9% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 181,700 shares of the technology company’s stock worth $18,800,000 after buying an additional 31,400 shares during the last quarter. Advisory Resource Group raised its stake in shares of NetEase by 40.1% during the 1st quarter. Advisory Resource Group now owns 8,335 shares of the technology company’s stock worth $862,000 after buying an additional 2,385 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its position in shares of NetEase by 21.9% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,127 shares of the technology company’s stock worth $413,000 after buying an additional 741 shares in the last quarter. Finally, Kingdon Capital Management L.L.C. acquired a new stake in NetEase in the 1st quarter valued at about $8,795,000. Institutional investors and hedge funds own 11.07% of the company’s stock.

NetEase Company Profile

NetEase, Inc engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China and internationally . The company operates through Games and Related Value-Added Services, Youdao, Cloud Music, and Innovative Businesses and Others segments.