NetEase (NASDAQ:NTES) Price Target Lowered to $105.00 at Benchmark

NetEase (NASDAQ:NTES) had its target price lowered by Benchmark from $120.00 to $105.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

Several other research analysts have also issued reports on the stock. Barclays reduced their target price on shares of NetEase from $104.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, August 26th. StockNews.com downgraded shares of NetEase from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 20th. Bank of America cut their price target on shares of NetEase from $142.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, August 23rd. Finally, Jefferies Financial Group cut their price target on shares of NetEase from $126.00 to $103.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $107.29.

NetEase Stock Up 1.5 %

Shares of NASDAQ:NTES opened at $85.49 on Friday. The firm has a market cap of $54.90 billion, a P/E ratio of 14.44, a P/E/G ratio of 1.89 and a beta of 0.57. NetEase has a 12 month low of $75.85 and a 12 month high of $118.89. The company’s 50-day moving average price is $83.75 and its two-hundred day moving average price is $88.95.

NetEase (NASDAQ:NTES) last issued its earnings results on Thursday, August 22nd. The technology company reported $12.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $10.43. The company had revenue of $25.49 billion for the quarter, compared to analyst estimates of $26.01 billion. NetEase had a net margin of 26.02% and a return on equity of 21.14%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.75 EPS. As a group, equities analysts predict that NetEase will post 6.08 earnings per share for the current fiscal year.

NetEase Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.435 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.74 annualized dividend and a yield of 2.04%. NetEase’s dividend payout ratio (DPR) is currently 29.22%.

Institutional Trading of NetEase

Several hedge funds have recently bought and sold shares of the stock. Sequoia Financial Advisors LLC raised its holdings in NetEase by 4.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,575 shares of the technology company’s stock worth $246,000 after buying an additional 107 shares during the period. Guinness Atkinson Asset Management Inc lifted its position in shares of NetEase by 0.7% in the second quarter. Guinness Atkinson Asset Management Inc now owns 15,422 shares of the technology company’s stock worth $1,474,000 after purchasing an additional 110 shares in the last quarter. SYSTM Wealth Solutions LLC lifted its position in shares of NetEase by 55.5% in the second quarter. SYSTM Wealth Solutions LLC now owns 328 shares of the technology company’s stock worth $31,000 after purchasing an additional 117 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of NetEase by 1.9% in the second quarter. Fifth Third Bancorp now owns 7,658 shares of the technology company’s stock worth $732,000 after purchasing an additional 146 shares in the last quarter. Finally, State Street Corp lifted its position in shares of NetEase by 0.3% in the third quarter. State Street Corp now owns 56,729 shares of the technology company’s stock worth $5,305,000 after purchasing an additional 156 shares in the last quarter. 11.07% of the stock is currently owned by institutional investors and hedge funds.

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.