China Renaissance Securities upgraded shares of NetEase (NASDAQ:NTES) from a hold rating to a buy rating in a research report sent to investors on Thursday morning, The Fly reports.
Other research analysts have also recently issued reports about the company. Benchmark reissued a buy rating and issued a $305.00 target price (up from $295.00) on shares of NetEase in a research report on Thursday. ValuEngine raised NetEase from a hold rating to a buy rating in a research report on Thursday, April 4th. Zacks Investment Research raised NetEase from a sell rating to a hold rating and set a $311.00 target price on the stock in a research report on Wednesday, April 24th. BidaskClub raised NetEase from a buy rating to a strong-buy rating in a research report on Friday, April 5th. Finally, Jefferies Financial Group cut NetEase from a buy rating to a hold rating and set a $245.00 target price on the stock. in a research report on Thursday, February 21st. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. NetEase currently has a consensus rating of Buy and a consensus target price of $278.45.
NASDAQ:NTES traded down $12.04 on Thursday, hitting $267.07. The stock had a trading volume of 38,414 shares, compared to its average volume of 723,871. The stock has a market capitalization of $34.41 billion, a price-to-earnings ratio of 39.18, a PEG ratio of 25.62 and a beta of 0.81. NetEase has a 52-week low of $184.60 and a 52-week high of $289.68.
NetEase (NASDAQ:NTES) last announced its earnings results on Wednesday, May 15th. The technology company reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.89. The business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.73 billion. NetEase had a return on equity of 17.46% and a net margin of 10.94%. The business’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same period last year, the firm posted $1.59 earnings per share. As a group, equities analysts forecast that NetEase will post 7.31 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 31st will be given a dividend of $0.69 per share. This is a boost from NetEase’s previous quarterly dividend of $0.48. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Thursday, May 30th. NetEase’s payout ratio is presently 27.80%.
Several hedge funds have recently bought and sold shares of the company. QS Investors LLC lifted its position in shares of NetEase by 7.1% during the 4th quarter. QS Investors LLC now owns 750 shares of the technology company’s stock valued at $177,000 after buying an additional 50 shares in the last quarter. Wetherby Asset Management Inc. lifted its holdings in NetEase by 2.9% in the 1st quarter. Wetherby Asset Management Inc. now owns 1,764 shares of the technology company’s stock worth $426,000 after purchasing an additional 50 shares in the last quarter. BerganKDV Wealth Management LLC lifted its holdings in NetEase by 1.4% in the 4th quarter. BerganKDV Wealth Management LLC now owns 4,037 shares of the technology company’s stock worth $950,000 after purchasing an additional 57 shares in the last quarter. Highstreet Asset Management Inc. lifted its holdings in NetEase by 4.5% in the 4th quarter. Highstreet Asset Management Inc. now owns 1,616 shares of the technology company’s stock worth $380,000 after purchasing an additional 70 shares in the last quarter. Finally, Comerica Bank lifted its holdings in NetEase by 1.0% in the 4th quarter. Comerica Bank now owns 7,689 shares of the technology company’s stock worth $1,831,000 after purchasing an additional 76 shares in the last quarter. 44.96% of the stock is currently owned by hedge funds and other institutional investors.
NetEase, Inc operates an interactive online community in the People's Republic of China. The company operates in four segments: Online Games Services, E-Commerce, Advertising Services, and Innovative Businesses and Other Services. It offers various games in a range of genres through mobile devices and PCs, including role-playing games, MMORPGs, battle arena games, simulation games, collectible card games, first-person shooter games, sandbox games, and other types of games to the Chinese market.
See Also: Price to Earnings Ratio (PE)
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