NetEase Inc. (NTES) Upgraded to Buy by Vetr Inc.
Vetr upgraded shares of NetEase Inc. (NASDAQ:NTES) from a hold rating to a buy rating in a report released on Monday. The firm currently has $266.16 price objective on the stock.
A number of other analysts also recently issued reports on the company. Credit Agricole SA raised NetEase from an underperform rating to an outperform rating and set a $272.00 price objective on the stock in a research note on Monday. Jefferies Group started coverage on NetEase in a report on Thursday, September 29th. They issued a hold rating and a $245.00 target price for the company. Macquarie lifted their target price on NetEase from $256.00 to $280.00 and gave the stock an outperform rating in a report on Wednesday, September 28th. Brean Capital reiterated a buy rating on shares of NetEase in a report on Wednesday, August 31st. Finally, Zacks Investment Research upgraded NetEase from a hold rating to a strong-buy rating and set a $244.00 target price for the company in a report on Tuesday, August 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $221.08.
NetEase (NASDAQ:NTES) opened at 255.98 on Monday. The firm has a 50-day moving average price of $229.91 and a 200-day moving average price of $183.76. The company has a market cap of $33.56 billion, a P/E ratio of 24.49 and a beta of 1.04. NetEase has a 12-month low of $128.77 and a 12-month high of $256.74.
NetEase (NASDAQ:NTES) last released its quarterly earnings data on Wednesday, August 17th. The company reported $3.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.61 by $1.06. NetEase had a return on equity of 31.47% and a net margin of 29.34%. On average, equities research analysts forecast that NetEase will post $12.55 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Wednesday, August 31st were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 1.22%. This is a boost from NetEase’s previous quarterly dividend of $0.73. The ex-dividend date was Monday, August 29th. NetEase’s dividend payout ratio is currently 25.14%.
Large investors have recently modified their holdings of the company. Orbis Allan Gray Ltd purchased a new stake in shares of NetEase during the first quarter valued at $1,449,733,000. Lazard Asset Management LLC boosted its stake in shares of NetEase by 0.4% in the first quarter. Lazard Asset Management LLC now owns 5,028,755 shares of the company’s stock valued at $722,028,000 after buying an additional 21,375 shares in the last quarter. Comgest Global Investors S.A.S. boosted its stake in shares of NetEase by 0.4% in the second quarter. Comgest Global Investors S.A.S. now owns 2,921,119 shares of the company’s stock valued at $564,418,000 after buying an additional 12,423 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of NetEase by 9.6% in the first quarter. Renaissance Technologies LLC now owns 2,187,700 shares of the company’s stock valued at $314,110,000 after buying an additional 191,600 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in shares of NetEase by 39.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,837,876 shares of the company’s stock valued at $355,114,000 after buying an additional 516,959 shares in the last quarter. Institutional investors and hedge funds own 59.71% of the company’s stock.
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.
To view Vetr’s full report, visit Vetr’s official website.
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