NetEase Inc. (NTES) Trading 0.7% Higher
NetEase Inc. (NASDAQ:NTES)’s share price traded up 0.7% during trading on Tuesday . The stock traded as high as $240.47 and last traded at $231.67, with a volume of 1,857,122 shares trading hands. The stock had previously closed at $230.07.
NTES has been the subject of several research reports. Vetr cut NetEase from a “hold” rating to a “sell” rating and set a $215.78 price objective for the company. in a research report on Monday. Brean Capital reissued a “buy” rating on shares of NetEase in a research report on Wednesday, August 31st. Zacks Investment Research raised NetEase from a “hold” rating to a “strong-buy” rating and set a $244.00 price objective for the company in a research report on Tuesday, August 23rd. Credit Suisse Group AG initiated coverage on NetEase in a research report on Friday, August 19th. They issued a “neutral” rating and a $230.00 price objective for the company. Finally, Deutsche Bank AG increased their price objective on NetEase from $190.00 to $207.00 and gave the company a “buy” rating in a research report on Friday, June 24th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $197.91.
The stock has a 50-day moving average of $209.18 and a 200-day moving average of $171.05. The company has a market capitalization of $30.27 billion, a PE ratio of 21.90 and a beta of 1.29.
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NetEase (NASDAQ:NTES) last posted its quarterly earnings results on Wednesday, August 17th. The company reported $3.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.61 by $1.06. NetEase had a return on equity of 31.47% and a net margin of 29.34%. Equities research analysts anticipate that NetEase Inc. will post $12.09 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Wednesday, August 31st were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, August 29th. This is a positive change from NetEase’s previous quarterly dividend of $0.73. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.36%. NetEase’s payout ratio is presently 25.14%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Tobam acquired a new position in NetEase during the second quarter worth $5,944,000. Royal Bank of Canada raised its position in NetEase by 37.8% in the second quarter. Royal Bank of Canada now owns 39,162 shares of the company’s stock worth $7,566,000 after buying an additional 10,750 shares during the last quarter. Legal & General Group Plc raised its position in NetEase by 106.9% in the second quarter. Legal & General Group Plc now owns 147,989 shares of the company’s stock worth $28,594,000 after buying an additional 76,472 shares during the last quarter. First Foundation Advisors acquired a new position in NetEase during the second quarter worth $593,000. Finally, Numeric Investors LLC raised its position in NetEase by 52.6% in the second quarter. Numeric Investors LLC now owns 250,556 shares of the company’s stock worth $48,412,000 after buying an additional 86,400 shares during the last quarter. 60.15% of the stock is currently owned by institutional investors and hedge funds.
NetEase Company Profile
NetEase, Inc (NetEase) is a technology company. The Company operates an interactive online community in China and is a provider of Chinese language content and services through its online games, Internet media, e-mail, e-commerce and other businesses. The Company operates through three segments: Online Game Services; Advertising Services, and E-mail, E-commerce and Others.
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