Zacks Investment Research Downgrades NetEase Inc. (NTES) to Hold
NetEase Inc. (NASDAQ:NTES) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “NetEase, Inc. is an Internet technology company engaged in the development of applications, services and other technologies for the Internet in China. It provides online gaming services that include in-house developed massively multi-player online role-playing games and licensed titles. NetEase also provides online advertising, community services, entertainment content, free e-mail services and micro-blogging services. The Company also offers wireless value-added services such as news and information content, matchmaking services, music and photos from the web that are sent over SMS, MMS, WAP, IVR and Color Ring-back Tone technologies. NetEase, Inc., formerly known as NetEase.com, Inc., is based in Beijing, the People’s Republic of China. “
Other equities analysts have also issued research reports about the stock. CICC Research raised shares of NetEase to a “buy” rating and set a $345.00 price objective for the company in a research report on Wednesday, October 12th. T.H. Capital reaffirmed a “buy” rating and set a $297.00 price objective (up previously from $227.00) on shares of NetEase in a research report on Thursday, October 13th. Vetr upgraded NetEase from a “buy” rating to a “strong-buy” rating and set a $294.91 price target on the stock in a research note on Tuesday, November 1st. Credit Agricole SA raised NetEase from an “underperform” rating to an “outperform” rating and set a $272.00 target price on the stock in a report on Monday, October 3rd. Finally, Credit Suisse Group AG began coverage on NetEase in a report on Friday, August 19th. They issued a “neutral” rating and a $230.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. NetEase has a consensus rating of “Buy” and a consensus target price of $247.53.
NetEase (NASDAQ:NTES) opened at 230.13 on Tuesday. The firm’s 50-day moving average price is $0.00 and its 200 day moving average price is $0.00. NetEase has a one year low of $129.60 and a one year high of $272.58.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Friday, November 25th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Tuesday, November 22nd. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.36%. NetEase’s dividend payout ratio (DPR) is presently 23.26%.
Hedge funds have recently added to or reduced their stakes in the company. Handelsbanken Fonder AB boosted its stake in NetEase by 46.2% in the second quarter. Handelsbanken Fonder AB now owns 530,619 shares of the company’s stock worth $102,526,000 after buying an additional 167,600 shares during the period. NN Investment Partners Holdings N.V. boosted its stake in NetEase by 551.6% in the second quarter. NN Investment Partners Holdings N.V. now owns 18,074 shares of the company’s stock worth $3,492,000 after buying an additional 15,300 shares during the period. Creative Planning boosted its stake in NetEase by 35.7% in the second quarter. Creative Planning now owns 7,986 shares of the company’s stock worth $1,543,000 after buying an additional 2,100 shares during the period. Svenska Handelsbanken AB publ boosted its stake in NetEase by 21.0% in the second quarter. Svenska Handelsbanken AB publ now owns 7,500 shares of the company’s stock worth $1,449,000 after buying an additional 1,300 shares during the period. Finally, Gulf International Bank UK Ltd boosted its stake in NetEase by 105.3% in the second quarter. Gulf International Bank UK Ltd now owns 19,500 shares of the company’s stock worth $3,767,000 after buying an additional 10,000 shares during the period. 59.29% 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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