Shares of NetEase, Inc. (NASDAQ:NTES – Get Rating) have been assigned a consensus recommendation of “Buy” from the nine brokerages that are presently covering the stock, MarketBeat.com reports. Eight research analysts have rated the stock with a buy recommendation. The average 1-year price objective among analysts that have covered the stock in the last year is $128.50.
A number of equities analysts have issued reports on NTES shares. JPMorgan Chase & Co. upgraded NetEase from an “underweight” rating to an “overweight” rating and lifted their price target for the company from $60.00 to $120.00 in a research note on Monday, May 16th. HSBC cut their target price on NetEase from $126.00 to $122.00 and set a “buy” rating on the stock in a research note on Wednesday, May 25th. Macquarie started coverage on NetEase in a research note on Tuesday, July 5th. They issued an “outperform” rating and a $129.00 target price on the stock. StockNews.com downgraded NetEase from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 16th. Finally, The Goldman Sachs Group started coverage on NetEase in a research note on Sunday, April 10th. They issued a “buy” rating and a $132.00 target price on the stock.
Hedge Funds Weigh In On NetEase
Institutional investors have recently bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of NetEase during the second quarter valued at about $31,000. James Investment Research Inc. bought a new stake in shares of NetEase during the second quarter valued at about $34,000. CWM LLC increased its position in shares of NetEase by 127.7% during the second quarter. CWM LLC now owns 444 shares of the technology company’s stock valued at $41,000 after buying an additional 249 shares during the period. Strs Ohio bought a new stake in shares of NetEase during the second quarter valued at about $56,000. Finally, ICICI Prudential Asset Management Co Ltd bought a new stake in shares of NetEase during the fourth quarter valued at about $71,000. Hedge funds and other institutional investors own 21.18% of the company’s stock.
NetEase Price Performance
NetEase (NASDAQ:NTES – Get Rating) last released its quarterly earnings results on Tuesday, May 24th. The technology company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.07. The business had revenue of $23.56 billion during the quarter, compared to the consensus estimate of $23.12 billion. NetEase had a return on equity of 18.02% and a net margin of 18.56%. The company’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.00 EPS. Research analysts expect that NetEase will post 3.95 EPS for the current fiscal year.
NetEase Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 23rd. Investors of record on Wednesday, June 8th were paid a $0.322 dividend. The ex-dividend date was Tuesday, June 7th. This represents a $1.29 annualized dividend and a yield of 1.42%. NetEase’s payout ratio is 32.57%.
NetEase, Inc provides online services focusing on diverse content, community, communication, and commerce in the Peoples' Republic of China and internationally. The company operates in three segments: Online Game Services, Youdao, Cloud Music, and Innovative Businesses and Others. It develops and operates PC and mobile games, as well as offers games licensed from other game developers.
- Get a free copy of the StockNews.com research report on NetEase (NTES)
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