NetEase, Inc. (NASDAQ:NTES - Get Free Report) shares gapped up before the market opened on Wednesday . The stock had previously closed at $93.04, but opened at $96.00. NetEase shares last traded at $95.69, with a volume of 532,010 shares changing hands.
Wall Street Analysts Forecast Growth
Several research firms have commented on NTES. Morgan Stanley reaffirmed an "equal weight" rating and issued a $100.00 target price (down from $120.00) on shares of NetEase in a research note on Thursday, May 23rd. StockNews.com upgraded NetEase from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, June 19th. HSBC decreased their price target on NetEase from $130.00 to $126.00 and set a "buy" rating on the stock in a research note on Wednesday, April 24th. Barclays initiated coverage on shares of NetEase in a research note on Thursday, June 13th. They set an "equal weight" rating and a $104.00 price objective for the company. Finally, Benchmark raised their target price on shares of NetEase from $144.00 to $145.00 and gave the stock a "buy" rating in a research report on Friday, May 24th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, NetEase has a consensus rating of "Moderate Buy" and a consensus target price of $123.00.
Read Our Latest Stock Report on NTES
NetEase Stock Performance
The stock has a fifty day moving average price of $94.67 and a 200-day moving average price of $98.55. The firm has a market cap of $62.12 billion, a PE ratio of 14.98, a PEG ratio of 1.81 and a beta of 0.52.
NetEase (NASDAQ:NTES - Get Free Report) last released its quarterly earnings data on Thursday, May 23rd. The technology company reported $1.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.68 by ($0.05). NetEase had a return on equity of 24.19% and a net margin of 28.75%. The business had revenue of $3.72 billion for the quarter, compared to analysts' expectations of $3.61 billion. As a group, equities analysts predict that NetEase, Inc. will post 6.86 earnings per share for the current fiscal year.
NetEase Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Thursday, June 6th were issued a $0.495 dividend. The ex-dividend date was Thursday, June 6th. This represents a $1.98 annualized dividend and a yield of 2.05%. NetEase's dividend payout ratio is currently 30.54%.
Institutional Investors Weigh In On NetEase
Several institutional investors and hedge funds have recently modified their holdings of the stock. Envestnet Asset Management Inc. lifted its position in NetEase by 59.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 72,172 shares of the technology company's stock worth $7,229,000 after acquiring an additional 26,818 shares in the last quarter. Northern Trust Corp lifted its position in shares of NetEase by 4.1% during the third quarter. Northern Trust Corp now owns 219,772 shares of the technology company's stock worth $22,012,000 after purchasing an additional 8,636 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of NetEase in the third quarter valued at $493,000. Natixis Advisors L.P. grew its holdings in NetEase by 28.4% during the 3rd quarter. Natixis Advisors L.P. now owns 131,344 shares of the technology company's stock valued at $13,155,000 after purchasing an additional 29,087 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its stake in NetEase by 37.0% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 21,991 shares of the technology company's stock worth $2,203,000 after buying an additional 5,937 shares during the period. Hedge funds and other institutional investors own 11.07% of the company's stock.
About NetEase
(
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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.
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