China Renaissance Securities upgraded shares of NetEase (NASDAQ:NTES) from a hold rating to a buy rating in a report published on Thursday, The Fly reports.
A number of other analysts have also recently weighed in on the stock. Benchmark reissued a buy rating and set a $305.00 target price (up from $295.00) on shares of NetEase in a report on Thursday. Barclays increased their target price on shares of NetEase from $275.00 to $300.00 and gave the stock an overweight rating in a report on Tuesday, May 14th. They noted that the move was a valuation call. TH Capital increased their target price on shares of NetEase from $270.00 to $310.00 and gave the stock a buy rating in a report on Monday, May 13th. Zacks Investment Research raised shares of NetEase from a sell rating to a hold rating and set a $311.00 target price on the stock in a report on Wednesday, April 24th. Finally, BidaskClub raised shares of NetEase from a buy rating to a strong-buy rating in a report on Friday, April 5th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $278.45.
Shares of NASDAQ:NTES opened at $266.53 on Thursday. The firm has a market cap of $35.00 billion, a price-to-earnings ratio of 38.80, a price-to-earnings-growth ratio of 26.06 and a beta of 0.81. NetEase has a 1-year low of $184.60 and a 1-year high of $289.68.
NetEase (NASDAQ:NTES) last issued its earnings results on Wednesday, May 15th. The technology company reported $2.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.86 by $0.89. The company had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.73 billion. NetEase had a net margin of 10.94% and a return on equity of 17.46%. The firm’s revenue was up 23.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.59 earnings per share. Sell-side analysts anticipate that NetEase will post 7.33 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 31st will be issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Thursday, May 30th. This is a boost from NetEase’s previous quarterly dividend of $0.48. NetEase’s dividend payout ratio (DPR) is 27.80%.
Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in shares of NetEase by 12.9% in the 4th quarter. BlackRock Inc. now owns 5,280,932 shares of the technology company’s stock worth $1,242,973,000 after acquiring an additional 602,693 shares during the period. Lazard Asset Management LLC increased its holdings in shares of NetEase by 15.1% in the 1st quarter. Lazard Asset Management LLC now owns 3,958,410 shares of the technology company’s stock worth $955,757,000 after acquiring an additional 518,036 shares during the period. Vanguard Group Inc increased its holdings in shares of NetEase by 1.7% in the 3rd quarter. Vanguard Group Inc now owns 2,562,086 shares of the technology company’s stock worth $584,796,000 after acquiring an additional 43,455 shares during the period. FMR LLC increased its holdings in shares of NetEase by 3.5% in the 4th quarter. FMR LLC now owns 2,172,576 shares of the technology company’s stock worth $511,359,000 after acquiring an additional 72,461 shares during the period. Finally, Overlook Holdings Ltd increased its holdings in shares of NetEase by 7.8% in the 4th quarter. Overlook Holdings Ltd now owns 925,560 shares of the technology company’s stock worth $217,849,000 after acquiring an additional 66,622 shares during the period. 44.96% of the stock is currently owned by institutional investors and hedge funds.
NetEase Company Profile
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.
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