Investors Buy NetEase Inc. (NTES) on Weakness
Traders purchased shares of NetEase Inc. (NASDAQ:NTES) on weakness during trading on Tuesday. $51.58 million flowed into the stock on the tick-up and $47.14 million flowed out of the stock on the tick-down, for a money net flow of $4.44 million into the stock. Of all companies tracked, NetEase had the 49th highest net in-flow for the day. NetEase traded down ($3.36) for the day and closed at $213.57
Several equities analysts have weighed in on the company. Zacks Investment Research upgraded NetEase from a “hold” rating to a “strong-buy” rating and set a $244.00 target price on the stock in a report on Tuesday, August 23rd. Credit Suisse Group AG assumed coverage on NetEase in a research note on Friday, August 19th. They issued a “neutral” rating and a $230.00 price objective on the stock. Vetr lowered 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 reiterated a “buy” rating on shares of NetEase in a research note on Tuesday, August 2nd. 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 analysts have rated the stock with a sell rating, three have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $193.16.
The company has a market cap of $27.67 billion and a P/E ratio of 20.02. The firm’s 50 day moving average price is $204.03 and its 200-day moving average price is $167.27.
NetEase (NASDAQ:NTES) last posted its quarterly earnings data on Wednesday, August 17th. The company reported $3.67 EPS for the quarter, topping the Zacks’ consensus estimate of $2.61 by $1.06. On average, analysts predict that NetEase Inc. will post $12.11 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Wednesday, August 31st will be paid a dividend of $0.78 per share. The ex-dividend date is Monday, August 29th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.48%. This is an increase from NetEase’s previous quarterly dividend of $0.73.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.