NetEase (NASDAQ:NTES) Issues Earnings Results, Beats Estimates By $0.14 EPS

NetEase (NASDAQ:NTES) released its earnings results on Thursday. The technology company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.14, Zacks reports. NetEase had a net margin of 26.02% and a return on equity of 20.82%.

NetEase Stock Down 4.8 %

Shares of NASDAQ:NTES traded down $4.99 during midday trading on Thursday, hitting $99.18. The stock had a trading volume of 1,107,083 shares, compared to its average volume of 1,333,713. The company’s 50-day moving average price is $97.51 and its 200-day moving average price is $89.56. The company has a market capitalization of $63.69 billion, a P/E ratio of 16.70, a price-to-earnings-growth ratio of 3.48 and a beta of 0.58. NetEase has a fifty-two week low of $75.85 and a fifty-two week high of $114.50.

Wall Street Analysts Forecast Growth

NTES has been the subject of a number of recent analyst reports. Morgan Stanley increased their price target on shares of NetEase from $108.00 to $117.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Citigroup increased their price target on shares of NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Benchmark cut their price target on shares of NetEase from $120.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Bank of America increased their price target on shares of NetEase from $120.00 to $122.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Finally, StockNews.com cut shares of NetEase from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 6th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $110.00.

NetEase Company Profile

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.