As a result of Morgan Stanley raising their price objective on NetEase, Inc.’s (NASDAQ: NTES) stock from $85.00 to $95.00 during Wednesday’s lunchtime trading, the price of shares of the company jumped by 4.6%. The last time the stock was traded, it was at a high of $73.20. A total of 24,201 shares were traded, 99% less than the daily average of 2,161,821. The previous closing price of the stock was $69.99.
Several additional brokerages have also produced recent reports on NTES. JPMorgan Chase & Co. reduced NetEase’s rating from “overweight” to “neutral” and its price target from $120.00 to $90.00 in a research note released on September 7. In a research note published on Friday, November 18, HSBC lowered their price objective for NetEase from $122.00 to $105.00 while maintaining their “buy” recommendation for the stock. TheStreet downgraded NetEase from a “b-” to a “c” in a research report on Monday, November 7. Citigroup increased their price objective on NetEase from $98.00 to $100.00 in a research report released on Friday, November 18, and rated the stock as a “buy.” Finally, StockNews.com raised NetEase from a “buy” recommendation to a “strong-buy” rating in a research study published on November 23. The stock has received buy recommendations from five investment analysts; two rates it as a strong buy, and one as a hold. According to Bloomberg, NetEase currently has a consensus “buy” rating with a target price of $109.14.
Some institutional investors and hedge funds have changed the number of NTES they hold. Clear Street Markets LLC increased its ownership of NetEase by $30,000 during the third quarter. Julius Bär Bank & Co. Ltd., Zurich, increased its stake in NetEase by $31,000 during the second quarter. James Stake Research Inc. put $34,000 into a fresh NetEase stake during the second quarter. FNY Investment Advisers LLC grew its holding in NetEase by 549.3% during the third quarter. FNY Investment Advisers LLC now owns 487 shares of the technology company’s stock, valued at $36,000, after acquiring an additional 412 shares. Not to mention, CWM LLC grew its ownership of NetEase by 127.7% during the second quarter. CWM LLC has acquired 444 technology company stock shares for a total transaction of $41,000. Institutions and hedge funds currently own 14.76% of the company’s shares.
The stock’s fifty-day moving average is $66.70, and its 200-day moving average is $82.23. The company is highly capitalized, with a market value of $47.96 billion, a P/E ratio of 13.97, a PEG ratio of 1.07, and a beta of 0.42. The company’s quick, current, and debt-to-equity ratios are all 2.29, 2.31, and 0.03, respectively.
NetEase (NASDAQ: NTES) published its most recent quarterly earnings report on November 17. With $1.43 EPS for the quarter, the technology industry beat analysts’ consensus estimates by $0.46. Analysts expected the corporation to generate $3.40 billion in sales, but $3.43 billion was realized. NetEase achieved a 20.5% return on equity and a 22.9% net margin. Analysts of stock market research expect NetEase, Inc. to earn 4.97 EPS for the fiscal year.
The company has just declared a quarterly dividend that will be paid on December 16. Shareholders with current records as of Friday, December 2, will receive a dividend of $0.435 per share. This is an increase compared to NetEase’s previous quarterly payout of $0.36. This Thursday, December 1, is the ex-dividend date for this dividend. This amounts to a $1.74 dividend at a 2.38% annual dividend yield. NetEase’s dividend payout ratio (DPR) is 34.53%.
NetEase, Inc. provides online services with an emphasis on a variety of content, community, communication, and commerce in the People’s Republic of China and overseas. The company’s three business categories include, among others, cloud music, innovative companies, online game services, and Youdao. In addition, it makes and manages PC and mobile games and provides games that other game developers have licensed.
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