Macquarie Boosts NetEase Inc. (NTES) Price Target to $280.00
NetEase Inc. (NASDAQ:NTES) had its price objective boosted by Macquarie from $256.00 to $280.00 in a research note issued to investors on Wednesday. The firm currently has an “outperform” rating on the stock. Macquarie’s price target would indicate a potential upside of 14.68% from the company’s previous close.
Several other equities research analysts also recently commented on NTES. Credit Suisse Group AG began coverage on NetEase in a report on Friday, August 19th. They set a “neutral” rating and a $230.00 target price for the company. Vetr downgraded NetEase from a “hold” rating to a “sell” rating and set a $215.78 target price for the company. in a report on Monday, September 12th. Zacks Investment Research raised 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. Brean Capital reaffirmed a “buy” rating on shares of NetEase in a report on Wednesday, August 31st. Finally, Deutsche Bank AG upped their target price on NetEase from $190.00 to $207.00 and gave the company a “buy” rating in a report on Friday, June 24th. Three analysts have rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. NetEase currently has an average rating of “Buy” and a consensus price target of $205.82.
NetEase (NASDAQ:NTES) traded down 0.30% during trading on Wednesday, hitting $243.42. The stock had a trading volume of 361,135 shares. The company has a market cap of $31.92 billion, a P/E ratio of 23.29 and a beta of 1.29. NetEase has a 12-month low of $116.01 and a 12-month high of $254.48. The company has a 50 day moving average of $221.87 and a 200-day moving average of $179.31.
NetEase (NASDAQ:NTES) last announced its quarterly earnings data on Wednesday, August 17th. The company reported $3.67 earnings per share for the quarter, beating the Thomson Reuters’ 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 analysts predict that NetEase will post $12.40 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Wednesday, August 31st were 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 was Monday, August 29th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.28%. NetEase’s dividend payout ratio is currently 25.14%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Orbis Allan Gray Ltd bought a new position in shares of NetEase during the first quarter worth approximately $1,449,733,000. Lazard Asset Management LLC raised its position 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 worth $722,028,000 after buying an additional 21,375 shares in the last quarter. Comgest Global Investors S.A.S. raised its position 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 worth $564,418,000 after buying an additional 12,423 shares in the last quarter. Renaissance Technologies LLC raised its position 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 worth $314,110,000 after buying an additional 191,600 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its position 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 worth $355,114,000 after buying an additional 516,959 shares in the last quarter. 59.71% of the stock is currently owned by institutional investors and hedge funds.
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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