NetEase (NASDAQ:NTES) Announces Quarterly Earnings Results

NetEase (NASDAQ:NTES) issued its quarterly earnings results on Thursday. The technology company reported $12.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $10.43, Briefing.com reports. NetEase had a return on equity of 24.19% and a net margin of 28.75%. The business had revenue of $25.49 billion for the quarter, compared to the consensus estimate of $26.01 billion. During the same period in the prior year, the firm posted $1.75 earnings per share. The business’s quarterly revenue was up 6.1% on a year-over-year basis.

NetEase Stock Performance

NASDAQ:NTES opened at $82.08 on Friday. The firm’s fifty day moving average is $91.59 and its two-hundred day moving average is $97.15. The firm has a market cap of $52.71 billion, a price-to-earnings ratio of 12.73, a PEG ratio of 1.81 and a beta of 0.53. NetEase has a one year low of $80.63 and a one year high of $118.89.

NetEase Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be given a dividend of $0.435 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $1.74 dividend on an annualized basis and a yield of 2.12%. NetEase’s dividend payout ratio is presently 30.54%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on NTES shares. Jefferies Financial Group dropped their target price on NetEase from $126.00 to $103.00 and set a “buy” rating on the stock in a research note on Thursday. Morgan Stanley restated an “equal weight” rating and set a $100.00 price objective on shares of NetEase in a report on Friday, July 5th. Bank of America lowered their target price on shares of NetEase from $142.00 to $120.00 and set a “buy” rating for the company in a research note on Friday. Barclays initiated coverage on shares of NetEase in a research note on Thursday, June 13th. They set an “equal weight” rating and a $104.00 price target on the stock. Finally, Benchmark raised their price target on shares of NetEase from $144.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, May 24th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, NetEase presently has a consensus rating of “Moderate Buy” and an average price target of $119.38.

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.