NetEase (NASDAQ:NTES) Issues Earnings Results, Beats Estimates By $6.73 EPS

Posted by on May 24th, 2022

NetEase (NASDAQ:NTES – Get Rating) issued its earnings results on Tuesday. The technology company reported $7.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $6.73, MarketWatch Earnings reports. NetEase had a return on equity of 18.79% and a net margin of 19.25%. The company had revenue of $23.56 billion during the quarter, compared to analysts’ expectations of $23.12 billion. During the same period in the prior year, the business earned $1.00 EPS. The firm’s quarterly revenue was up 14.8% on a year-over-year basis.

NASDAQ NTES traded down $1.37 during trading on Tuesday, hitting $95.67. The stock had a trading volume of 68,494 shares, compared to its average volume of 2,553,536. The company has a quick ratio of 2.22, a current ratio of 2.24 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $64.09 billion, a PE ratio of 25.01, a PEG ratio of 1.19 and a beta of 0.41. The firm has a 50 day moving average price of $92.29 and a 200 day moving average price of $97.25. NetEase has a twelve month low of $68.62 and a twelve month high of $119.61.

The company also recently announced a quarterly dividend, which was paid on Friday, March 25th. Investors of record on Friday, March 11th were paid a dividend of $0.405 per share. This is a positive change from NetEase’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Thursday, March 10th. This represents a $1.62 annualized dividend and a yield of 1.69%. NetEase’s dividend payout ratio is presently 41.49%.

Institutional investors and hedge funds have recently modified their holdings of the company. Captrust Financial Advisors increased its stake in NetEase by 131.0% during the 3rd quarter. Captrust Financial Advisors now owns 335 shares of the technology company’s stock worth $29,000 after buying an additional 190 shares during the period. Advisors Asset Management Inc. raised its stake in shares of NetEase by 6.5% in the fourth quarter. Advisors Asset Management Inc. now owns 22,565 shares of the technology company’s stock valued at $2,297,000 after acquiring an additional 1,368 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in NetEase by 19.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 58,844 shares of the technology company’s stock valued at $5,989,000 after purchasing an additional 9,620 shares during the period. Parametric Portfolio Associates LLC grew its stake in NetEase by 5.0% during the 4th quarter. Parametric Portfolio Associates LLC now owns 184,368 shares of the technology company’s stock worth $18,765,000 after purchasing an additional 8,774 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings in NetEase by 1.4% during the 4th quarter. Deutsche Bank AG now owns 968,025 shares of the technology company’s stock worth $98,526,000 after purchasing an additional 13,662 shares during the period. 21.18% of the stock is currently owned by institutional investors and hedge funds.

NTES has been the subject of several recent analyst reports. 86 Research upgraded shares of NetEase from a “hold” rating to a “buy” rating and set a $113.00 price objective for the company in a research report on Friday, February 25th. The Goldman Sachs Group initiated coverage on NetEase in a report on Sunday, April 10th. They issued a “buy” rating and a $132.00 price objective on the stock. StockNews.com started coverage on NetEase in a research note on Thursday, March 31st. They set a “buy” rating for the company. Zacks Investment Research raised NetEase from a “sell” rating to a “hold” rating in a research note on Wednesday, April 20th. Finally, Citigroup cut their price objective on NetEase from $136.00 to $133.00 in a research report on Monday, February 14th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $127.00.

NetEase Company Profile (Get Rating)

NetEase, Inc provides online services focusing on gaming, communication, and commerce in the Peoples' Republic of China and internationally. The company operates in three segments: Online Games Services, Youdao, and Innovative Businesses and Others. It develops and operates PC and mobile games, as well as offers games licensed from other game developers.

See Also

Earnings History for NetEase (NASDAQ:NTES)

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