NetEase (NASDAQ:NTES) Lifted to “Strong-Buy” at StockNews.com

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

Other equities research analysts also recently issued research reports about the company. Morgan Stanley reissued an equal weight rating and set a $100.00 price target (down previously from $120.00) on shares of NetEase in a research report on Thursday, May 23rd. Barclays assumed coverage on NetEase in a research report on Thursday, June 13th. They issued an equal weight rating and a $104.00 target price for the company. Benchmark upped their target price on NetEase from $144.00 to $145.00 and gave the stock a buy rating in a research report on Friday, May 24th. Finally, HSBC decreased their target price on NetEase from $130.00 to $126.00 and set a buy rating for the company in a research report on Wednesday, April 24th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $123.00.

NetEase Trading Down 2.0 %

NTES stock opened at $89.73 on Wednesday. The stock has a 50-day moving average price of $94.64 and a two-hundred day moving average price of $98.76. NetEase has a 12-month low of $81.30 and a 12-month high of $118.89. The company has a market cap of $57.62 billion, a PE ratio of 13.91, a price-to-earnings-growth ratio of 1.78 and a beta of 0.52.

NetEase (NASDAQ:NTES) last posted its quarterly earnings results on Thursday, May 23rd. The technology company reported $1.63 earnings per share (EPS) 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 firm had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.61 billion. Equities analysts forecast that NetEase will post 6.86 EPS for the current fiscal year.

NetEase Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Thursday, June 6th were paid a $0.495 dividend. This represents a $1.98 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend was Thursday, June 6th. NetEase’s dividend payout ratio (DPR) is 30.54%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Boston Partners acquired a new position in shares of NetEase in the fourth quarter worth about $964,000. Assenagon Asset Management S.A. raised its stake in NetEase by 451.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 511,454 shares of the technology company’s stock valued at $47,647,000 after buying an additional 418,677 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in NetEase by 879.6% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 28,311 shares of the technology company’s stock valued at $2,637,000 after buying an additional 25,421 shares in the last quarter. BNP Paribas Financial Markets raised its stake in NetEase by 64.5% during the fourth quarter. BNP Paribas Financial Markets now owns 56,809 shares of the technology company’s stock valued at $5,292,000 after buying an additional 22,268 shares in the last quarter. Finally, AI Squared Management Ltd acquired a new stake in NetEase during the fourth quarter valued at approximately $7,322,000. Institutional investors and hedge funds own 11.07% of the company’s stock.

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.