NetEase Inc. (NTES) Shares Down 2.6%
Shares of NetEase Inc. (NASDAQ:NTES) traded down 2.6% during mid-day trading on Thursday . The company traded as low as $199.13 and last traded at $207.73, with a volume of 2,404,719 shares. The stock had previously closed at $213.33.
A number of analysts have issued reports on the company. Credit Suisse Group AG assumed coverage on NetEase in a research note on Friday. They issued a “neutral” rating and a $230.00 price objective on the stock. Vetr downgraded NetEase from a “buy” rating to a “hold” rating and set a $212.23 price objective on the stock. in a research note on Monday, August 15th. Brean Capital reaffirmed a “buy” rating on shares of NetEase in a research note on Tuesday, August 2nd. Zacks Investment Research raised NetEase from a “hold” rating to a “buy” rating and set a $232.00 price objective on the stock in a research note on Thursday, July 28th. Finally, Deutsche Bank AG lifted their price objective on NetEase from $190.00 to $207.00 and gave the stock a “buy” rating in a research note on Friday, June 24th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $192.30.
The stock’s 50-day moving average price is $199.57 and its 200-day moving average price is $163.38. The firm has a market capitalization of $27.60 billion and a P/E ratio of 23.22.
NetEase (NASDAQ:NTES) last released its earnings results on Wednesday, August 17th. The company reported $3.67 earnings per share for the quarter, beating the consensus estimate of $2.61 by $1.06. On average, equities analysts expect that NetEase Inc. will post $11.50 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Wednesday, August 31st will be given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 1.49%. This is a boost from NetEase’s previous quarterly dividend of $0.73.
Several institutional investors have recently added to or reduced their stakes in the stock. Trexquant Investment LP increased its position in NetEase by 92.8% in the fourth quarter. Trexquant Investment LP now owns 10,410 shares of the company’s stock valued at $1,887,000 after buying an additional 5,010 shares during the period. Airain ltd increased its position in NetEase by 394.0% in the fourth quarter. Airain ltd now owns 15,535 shares of the company’s stock valued at $2,816,000 after buying an additional 12,390 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in NetEase during the fourth quarter valued at $5,981,000. BNP Paribas Arbitrage SA increased 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 valued at $15,066,000 after buying an additional 70,015 shares during the period. Finally, Principal Financial Group Inc. purchased a new position in NetEase during the fourth quarter valued at $21,656,000.
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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