NetEase Inc. (NTES) Upgraded to “Buy” at Vetr Inc.
Vetr upgraded shares of NetEase Inc. (NASDAQ:NTES) from a hold rating to a buy rating in a report released on Monday morning. They currently have $266.16 price objective on the stock.
NTES has been the topic of a number of other reports. Zacks Investment Research upgraded shares of NetEase from a hold rating to a buy rating and set a $232.00 target price on the stock in a research note on Thursday, July 28th. Brean Capital restated a buy rating on shares of NetEase in a research note on Tuesday, August 2nd. Macquarie upped their target price on shares of NetEase from $256.00 to $280.00 and gave the stock an outperform rating in a research note on Wednesday, September 28th. Deutsche Bank AG upped their target price on shares of NetEase from $190.00 to $207.00 and gave the stock a buy rating in a research note on Friday, June 24th. Finally, Credit Agricole SA upgraded shares of NetEase from an underperform rating to an outperform rating and set a $272.00 price target on the stock in a research note on Monday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $221.08.
Shares of NetEase (NASDAQ:NTES) opened at 244.86 on Monday. The firm has a market capitalization of $32.10 billion, a PE ratio of 23.42 and a beta of 1.03. The firm’s 50-day moving average is $226.63 and its 200 day moving average is $182.04. NetEase has a 52 week low of $124.87 and a 52 week high of $254.48.
NetEase (NASDAQ:NTES) last released its earnings results on Wednesday, August 17th. The company reported $3.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.61 by $1.06. NetEase had a net margin of 29.34% and a return on equity of 31.47%. On average, equities analysts forecast that NetEase will post $12.52 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Wednesday, August 31st were issued a dividend of $0.78 per share. The ex-dividend date was Monday, August 29th. This is an increase from NetEase’s previous quarterly dividend of $0.73. This represents a $3.12 annualized dividend and a dividend yield of 1.27%. NetEase’s dividend payout ratio (DPR) is currently 25.14%.
Large investors have recently modified their holdings of the company. Orbis Allan Gray Ltd bought a new stake in shares of NetEase during the first quarter valued at $1,449,733,000. Coronation Fund Managers Ltd. bought a new stake in shares of NetEase during the second quarter valued at $137,565,000. State Street Corp increased its stake in shares of NetEase by 59.4% in the second quarter. State Street Corp now owns 1,416,543 shares of the company’s stock valued at $273,701,000 after buying an additional 527,760 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased 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. Finally, BlackRock Fund Advisors increased its stake in shares of NetEase by 75.8% in the second quarter. BlackRock Fund Advisors now owns 1,042,761 shares of the company’s stock valued at $201,482,000 after buying an additional 449,610 shares in the last quarter. 59.71% of the stock is owned by hedge funds and other institutional investors.
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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