Equities research analysts at Morgan Stanley (NYSE: MS) decreased their price target on shares of Perfect World Co Ltd (NASDAQ: PWRD) from $18.40 to $16.70 in a research note issued to investors on Wednesday. The firm currently has an “overweight” rating on the stock.
The analysts wrote, “Despite a softer 2Q outlook, we believe Perfect World offers deep value, as it trades at only ~4x 2012e P/E, with net cash (post dividend) accounting for 55-60% of its market value. The stock offers a 5-7% recurring dividend yield. We are waiting for games launch in 2H, which may serve as catalysts.”
PWRD has been the subject of a number of other recent research reports. Analysts at Nomura (NYSE: NMR) reiterated a “neutral” rating on shares of Perfect World Co Ltd in a research note to investors on Wednesday. Separately, analysts at Piper Jaffray (NYSE: PJC) cut their price target on shares of Perfect World Co Ltd from $36.00 to $27.00 in a research note to investors on Wednesday. They now have an “overweight” rating on the stock. Finally, analysts at Mirae Asset upgraded shares of Perfect World Co Ltd from a “buy” rating to a “hold” rating in a research note to investors on Wednesday.
Shares of Perfect World Co Ltd traded down 5.91% during mid-day trading on Wednesday, hitting $10.82. Perfect World Co Ltd has a one year low of $8.44 and a one year high of $24.31. The company has a market cap of $499.7 million and a P/E ratio of 3.79.
Perfect World Co Ltd last issued its quarterly earnings data on Tuesday, May 29th. The company reported $0.72 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.73 by $0.01. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, analysts predict that Perfect World Co Ltd will post $5.18 earnings per share next quarter.
Perfect World Co, Ltd. (Perfect World) is an online game developer and operator in People’s Republic of China.