NetEase (NASDAQ:NTES) Raised to Strong-Buy at StockNews.com

StockNews.com upgraded shares of NetEase (NASDAQ:NTESFree Report) from a buy rating to a strong-buy rating in a report issued on Wednesday morning.

Several other research firms have also recently commented on NTES. Morgan Stanley reissued 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. Benchmark lifted their target price on NetEase from $144.00 to $145.00 and gave the company a buy rating in a research note on Friday, May 24th. HSBC lowered their target price on NetEase from $130.00 to $126.00 and set a buy rating for the company in a research note on Wednesday, April 24th. Finally, Barclays began coverage on NetEase in a research note on Thursday, June 13th. They issued an equal weight rating and a $104.00 target price for the company. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $123.00.

Get Our Latest Research Report on NTES

NetEase Price Performance

NTES stock opened at $89.73 on Wednesday. The business has a fifty day moving average price of $94.64 and a 200 day moving average price of $98.79. NetEase has a fifty-two week low of $81.30 and a fifty-two week high of $118.89. The stock has a market capitalization of $57.62 billion, a price-to-earnings ratio of 13.91, a P/E/G ratio of 1.76 and a beta of 0.52.

NetEase (NASDAQ:NTESGet Free Report) last released its quarterly earnings results on Thursday, May 23rd. The technology company reported $1.63 earnings per share for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.05). NetEase had a net margin of 28.75% and a return on equity of 24.19%. The business had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.61 billion. On average, equities analysts expect that NetEase 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. Stockholders of record on Thursday, June 6th were given a $0.495 dividend. The ex-dividend date was Thursday, June 6th. This represents a $1.98 annualized dividend and a dividend yield of 2.21%. NetEase’s dividend payout ratio is currently 30.54%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NTES. QRG Capital Management Inc. bought a new position in shares of NetEase in the 3rd quarter worth $527,000. Envestnet Asset Management Inc. lifted its holdings in NetEase by 59.1% during the third 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. Aigen Investment Management LP lifted its holdings in NetEase by 62.8% during the third quarter. Aigen Investment Management LP now owns 4,960 shares of the technology company’s stock worth $497,000 after acquiring an additional 1,913 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in NetEase during the third quarter worth about $1,813,000. Finally, Northern Trust Corp lifted its holdings in 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 acquiring an additional 8,636 shares in the last quarter. 11.07% of the stock is currently owned by institutional investors.

NetEase Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for NetEase (NASDAQ:NTES)

Receive News & Ratings for NetEase Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetEase and related companies with MarketBeat.com's FREE daily email newsletter.