NetEase, Inc. (NASDAQ:NTES) Receives $112.67 Average PT from Analysts

NetEase, Inc. (NASDAQ:NTES) has been assigned an average rating of “Moderate Buy” from the six analysts that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $112.67.

Several equities analysts have recently weighed in on the stock. Bank of America dropped their price objective on shares of NetEase from $142.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, August 23rd. Jefferies Financial Group cut their price objective on shares of NetEase from $126.00 to $103.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Barclays decreased their target price on NetEase from $104.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Monday, August 26th. StockNews.com lowered NetEase from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 20th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $100.00 price target on shares of NetEase in a research note on Friday, July 5th.

NetEase Stock Down 0.2 %

Shares of NASDAQ NTES opened at $80.51 on Tuesday. The business’s 50 day moving average price is $83.85 and its two-hundred day moving average price is $90.05. The company has a market cap of $51.70 billion, a PE ratio of 13.13, a price-to-earnings-growth ratio of 1.76 and a beta of 0.55. NetEase has a twelve month low of $75.85 and a twelve month high of $118.89.

NetEase (NASDAQ:NTES) last posted its earnings results on Thursday, August 22nd. The technology company reported $12.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $10.43. NetEase had a return on equity of 22.30% and a net margin of 26.98%. The business had revenue of $25.49 billion for the quarter, compared to analyst estimates of $26.01 billion. During the same period in the previous year, the firm earned $1.75 EPS. The firm’s revenue was up 6.1% compared to the same quarter last year. As a group, research analysts anticipate that NetEase will post 6.05 EPS for the current fiscal year.

NetEase Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were given a dividend of $0.435 per share. This represents a $1.74 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend was Friday, September 6th. NetEase’s dividend payout ratio is currently 28.22%.

Hedge Funds Weigh In On NetEase

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NTES. Price T Rowe Associates Inc. MD acquired a new stake in shares of NetEase during the 1st quarter worth $103,658,000. Lazard Asset Management LLC increased its holdings in NetEase by 804.5% in the 1st quarter. Lazard Asset Management LLC now owns 792,357 shares of the technology company’s stock valued at $81,983,000 after buying an additional 704,753 shares during the period. Point72 Hong Kong Ltd raised its position in shares of NetEase by 109.0% in the 2nd quarter. Point72 Hong Kong Ltd now owns 1,213,323 shares of the technology company’s stock valued at $115,969,000 after buying an additional 632,896 shares in the last quarter. Broad Peak Investment Holdings Ltd. acquired a new position in shares of NetEase in the 1st quarter valued at approximately $34,662,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of NetEase by 65.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 772,242 shares of the technology company’s stock worth $73,811,000 after acquiring an additional 306,500 shares during the period. 11.07% of the stock is owned by institutional investors and hedge funds.

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.