NetEase, Inc. (NASDAQ:NTES) Given Consensus Recommendation of “Buy” by Brokerages

NetEase, Inc. (NASDAQ:NTES) has been assigned a consensus recommendation of “Buy” from the six brokerages that are currently covering the stock, Marketbeat reports. Six analysts have rated the stock with a buy recommendation. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $126.00.

Several analysts recently commented on the company. Morgan Stanley lowered their target price on NetEase from $135.00 to $120.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. StockNews.com upgraded NetEase from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 26th.

NetEase Trading Down 1.9 %

Shares of NetEase stock opened at $90.42 on Friday. The business’s 50 day simple moving average is $104.38 and its 200-day simple moving average is $103.39. The stock has a market capitalization of $58.30 billion, a price-to-earnings ratio of 14.28, a PEG ratio of 0.84 and a beta of 0.58. NetEase has a twelve month low of $80.79 and a twelve month high of $118.89.

NetEase (NASDAQ:NTES) last posted its earnings results on Thursday, February 29th. The technology company reported $1.42 EPS for the quarter, missing the consensus estimate of $1.62 by ($0.20). NetEase had a net margin of 28.39% and a return on equity of 24.36%. The business had revenue of $3.82 billion during the quarter, compared to analyst estimates of $3.96 billion. Sell-side analysts predict that NetEase will post 7.04 earnings per share for the current year.

NetEase Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a dividend of $1.08 per share. This is a positive change from NetEase’s previous quarterly dividend of $0.50. This represents a $4.32 dividend on an annualized basis and a yield of 4.78%. The ex-dividend date was Wednesday, March 13th. NetEase’s dividend payout ratio (DPR) is presently 68.09%.

Hedge Funds Weigh In On NetEase

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC boosted its stake in shares of NetEase by 2.1% during the 2nd quarter. Commonwealth Equity Services LLC now owns 5,290 shares of the technology company’s stock worth $512,000 after acquiring an additional 109 shares in the last quarter. Financial Counselors Inc. boosted its stake in shares of NetEase by 4.1% during the 4th quarter. Financial Counselors Inc. now owns 3,195 shares of the technology company’s stock worth $298,000 after acquiring an additional 125 shares in the last quarter. Lindbrook Capital LLC boosted its stake in shares of NetEase by 14.0% during the 4th quarter. Lindbrook Capital LLC now owns 1,043 shares of the technology company’s stock worth $97,000 after acquiring an additional 128 shares in the last quarter. Putnam Investments LLC boosted its stake in shares of NetEase by 3.9% during the 4th quarter. Putnam Investments LLC now owns 3,479 shares of the technology company’s stock worth $324,000 after acquiring an additional 129 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its stake in shares of NetEase by 5.8% during the 4th quarter. Sequoia Financial Advisors LLC now owns 2,588 shares of the technology company’s stock worth $241,000 after acquiring an additional 143 shares in the last quarter. 11.07% of the stock is owned by institutional investors.

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.