NetEase Inc. (NTES) Sees Strong Trading Volume
Shares of NetEase Inc. (NASDAQ:NTES) saw strong trading volume on Tuesday . 941,801 shares were traded during trading, an increase of 12% from the previous session’s volume of 840,968 shares.The stock last traded at $213.94 and had previously closed at $211.48.
A number of research analysts have issued reports on the company. Zacks Investment Research raised NetEase from a “hold” rating to a “buy” rating and set a $232.00 price objective for the company in a report on Thursday, July 28th. Nomura raised NetEase from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $174.00 to $194.00 in a report on Thursday, May 12th. Brean Capital reissued a “buy” rating on shares of NetEase in a report on Tuesday, August 2nd. Vetr cut NetEase from a “buy” rating to a “hold” rating and set a $212.23 price objective for the company. in a report on Monday. Finally, Deutsche Bank AG lifted their price objective on NetEase from $190.00 to $207.00 and gave the company a “buy” rating in a 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 assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $187.59.
The company has a 50 day moving average price of $198.35 and a 200 day moving average price of $162.68. The stock has a market capitalization of $27.29 billion and a PE ratio of 22.96.
NetEase (NASDAQ:NTES) last issued its quarterly earnings data on Wednesday, August 17th. The company reported $3.67 EPS for the quarter, beating analysts’ consensus estimates of $2.61 by $1.06. Equities research analysts anticipate that NetEase Inc. will post $10.84 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Wednesday, August 31st will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 1.46%. This is a positive change from NetEase’s previous quarterly dividend of $0.73.
Other hedge funds recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its stake in NetEase by 18.1% in the fourth quarter. Wells Fargo & Company MN now owns 145,058 shares of the company’s stock valued at $26,291,000 after buying an additional 22,255 shares during the period. Principal Financial Group Inc. bought a new stake in NetEase during the fourth quarter valued at about $21,656,000. BNP Paribas Arbitrage SA raised its stake 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. Connor Clark & Lunn Investment Management Ltd. bought a new stake in NetEase during the fourth quarter valued at about $5,981,000. Finally, Airain ltd raised its stake 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.
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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