NetEase Inc. (NTES) Shares Down 2.6%
NetEase Inc. (NASDAQ:NTES)’s share price traded down 2.6% during trading on Thursday . The stock traded as low as $199.13 and last traded at $207.73, with a volume of 2,404,719 shares changing hands. The stock had previously closed at $213.33.
Several equities analysts have recently commented on the company. Brean Capital restated a “buy” rating on shares of NetEase in a research report on Tuesday, August 2nd. Vetr downgraded NetEase from a “buy” rating to a “hold” rating and set a $212.23 target price on the stock. in a research report on Monday. Zacks Investment Research upgraded NetEase from a “hold” rating to a “buy” rating and set a $232.00 target price on the stock in a research report on Thursday, July 28th. Nomura upgraded NetEase from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $174.00 to $194.00 in a research report on Thursday, May 12th. Finally, Deutsche Bank AG boosted their target price on NetEase from $190.00 to $207.00 and gave the stock a “buy” rating in a research report on Friday, June 24th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $187.59.
The company’s 50-day moving average price is $198.35 and its 200-day moving average price is $162.68. The firm has a market cap of $27.32 billion and a PE ratio of 22.98.
NetEase (NASDAQ:NTES) last posted its earnings results on Wednesday, August 17th. The company reported $3.67 EPS for the quarter, beating the Zacks’ consensus estimate of $2.61 by $1.06. Equities analysts forecast that NetEase Inc. will post $10.93 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Wednesday, August 31st will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 1.50%. This is an increase from NetEase’s previous quarterly dividend of $0.73.
A number of hedge funds and institutional investors have added to or reduced their stakes in NTES. Wells Fargo & Company MN raised its position in NetEase by 18.1% in the fourth quarter. Wells Fargo & Company MN now owns 145,058 shares of the company’s stock worth $26,291,000 after buying an additional 22,255 shares during the period. Principal Financial Group Inc. acquired a new position in NetEase during the fourth quarter worth $21,656,000. Trexquant Investment LP raised its position in NetEase by 92.8% in the fourth quarter. Trexquant Investment LP now owns 10,410 shares of the company’s stock worth $1,887,000 after buying an additional 5,010 shares during the period. BNP Paribas Arbitrage SA raised its position in NetEase by 533.9% in the fourth quarter. BNP Paribas Arbitrage SA now owns 83,128 shares of the company’s stock worth $15,066,000 after buying an additional 70,015 shares during the period. Finally, Airain ltd raised its position in NetEase by 394.0% in the fourth quarter. Airain ltd now owns 15,535 shares of the company’s stock worth $2,816,000 after buying an additional 12,390 shares during the period.
NetEase, Inc (NetEase) is a technology company. The Company operates an interactive online community in China and is a provider of Chinese language content and services through its online games, Internet media, e-mail, e-commerce and other businesses. The Company operates through three segments: Online Game Services; Advertising Services, and E-mail, E-commerce and Others.
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