Investors Buy Shares of NetEase Inc. (NTES) on Weakness
Traders bought shares of NetEase Inc. (NASDAQ:NTES) on weakness during trading on Monday. $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 25th highest net in-flow for the day. NetEase traded down ($3.36) for the day and closed at $213.57
Several analysts have issued reports on NTES shares. Credit Suisse Group AG started coverage on shares of NetEase in a research note on Friday, August 19th. They set a “neutral” rating and a $230.00 target price on the stock. Zacks Investment Research upgraded shares of NetEase from a “hold” rating to a “strong-buy” rating and set a $186.00 price target on the stock in a report on Tuesday, May 17th. Brean Capital initiated coverage on shares of NetEase in a report on Monday, July 18th. They set a “buy” rating and a $235.00 price target on the stock. Deutsche Bank AG boosted their price target on shares of NetEase from $190.00 to $207.00 and gave the company a “buy” rating in a report on Friday, June 24th. Finally, Nomura upgraded shares of NetEase from a “neutral” rating to a “buy” rating and boosted their price target for the company from $174.00 to $194.00 in a report on Thursday, May 12th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $193.16.
The stock has a market capitalization of $28.00 billion and a P/E ratio of 20.26. The stock’s 50 day moving average price is $203.63 and its 200-day moving average price is $166.74.
NetEase (NASDAQ:NTES) last posted its earnings results on Wednesday, August 17th. The company reported $3.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.61 by $1.06. On average, equities analysts predict that NetEase Inc. will post $12.11 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Investors of record on Wednesday, August 31st will be issued a dividend of $0.78 per share. This is a positive change from NetEase’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Monday, August 29th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.46%.
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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