NetEase, Inc. (NASDAQ:NTES) Receives $123.00 Consensus PT from Analysts

Shares of NetEase, Inc. (NASDAQ:NTES) have been given a consensus recommendation of “Moderate Buy” by the seven ratings firms that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $123.00.

A number of equities analysts recently issued reports on the company. Morgan Stanley reiterated an “equal weight” rating and issued a $100.00 target price on shares of NetEase in a report on Thursday, June 27th. HSBC reduced their target price on NetEase from $130.00 to $126.00 and set a “buy” rating for the company in a report on Wednesday, April 24th. StockNews.com lowered shares of NetEase from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 27th. Benchmark increased their target price on shares of NetEase from $144.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, May 24th. Finally, Barclays assumed coverage on NetEase in a research report on Thursday, June 13th. They issued an “equal weight” rating and a $104.00 price target for the company.

NetEase Stock Performance

Shares of NASDAQ NTES opened at $93.96 on Wednesday. The company’s 50 day moving average price is $94.95 and its 200-day moving average price is $98.29. NetEase has a 52-week low of $81.30 and a 52-week high of $118.89. The company has a market capitalization of $60.34 billion, a P/E ratio of 14.57, a price-to-earnings-growth ratio of 1.91 and a beta of 0.53.

NetEase (NASDAQ:NTES) last released its quarterly earnings data on Thursday, May 23rd. The technology company reported $1.63 earnings per share for the quarter, missing the consensus estimate of $1.68 by ($0.05). The company had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.61 billion. NetEase had a net margin of 28.75% and a return on equity of 24.19%. Analysts forecast that NetEase will post 6.68 earnings per share for the current year.

NetEase Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Thursday, June 6th were given a dividend of $0.495 per share. This represents a $1.98 annualized dividend and a dividend yield of 2.11%. The ex-dividend date was Thursday, June 6th. NetEase’s dividend payout ratio (DPR) is currently 30.54%.

Hedge Funds Weigh In On NetEase

Hedge funds and other institutional investors have recently modified their holdings of the company. Tairen Capital Ltd bought a new stake in shares of NetEase in the 4th quarter worth approximately $164,307,000. Wellington Management Group LLP grew its holdings in shares of NetEase by 226.4% during the 4th quarter. Wellington Management Group LLP now owns 1,896,495 shares of the technology company’s stock worth $176,677,000 after acquiring an additional 1,315,410 shares during the period. Price T Rowe Associates Inc. MD purchased a new stake in NetEase in the first quarter worth $103,658,000. WT Asset Management Ltd increased its stake in shares of NetEase by 381.1% in the 4th quarter. WT Asset Management Ltd now owns 996,686 shares of the technology company’s stock worth $92,851,000 after acquiring an additional 789,499 shares in the last quarter. Finally, Lazard Asset Management LLC increased its position in NetEase by 804.5% during the 1st quarter. Lazard Asset Management LLC now owns 792,357 shares of the technology company’s stock valued at $81,983,000 after buying an additional 704,753 shares in the last quarter. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

About NetEase

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.