NetEase Inc (NASDAQ:NTES) Receives $307.55 Consensus Target Price from Brokerages
NetEase Inc (NASDAQ:NTES) has been given an average recommendation of “Buy” by the sixteen research firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have assigned a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $320.78.
A number of equities research analysts recently weighed in on the stock. Goldman Sachs Group raised shares of NetEase from a “neutral” rating to a “buy” rating and raised their target price for the company from $300.00 to $368.00 in a research note on Wednesday, December 4th. ValuEngine downgraded shares of NetEase from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 3rd. Citigroup lifted their price target on shares of NetEase from $301.00 to $326.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. BidaskClub raised shares of NetEase from a “sell” rating to a “hold” rating in a research note on Saturday, November 30th. Finally, Macquarie initiated coverage on shares of NetEase in a research note on Thursday, November 21st. They set an “outperform” rating and a $363.00 price target on the stock.
Several hedge funds have recently bought and sold shares of the business. Comgest Global Investors S.A.S. raised its stake in shares of NetEase by 30.5% during the third quarter. Comgest Global Investors S.A.S. now owns 2,019,243 shares of the technology company’s stock worth $537,481,000 after acquiring an additional 471,970 shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in shares of NetEase by 14.0% in the second quarter. UBS Asset Management Americas Inc. now owns 1,884,467 shares of the technology company’s stock worth $481,990,000 after buying an additional 231,581 shares during the period. William Blair Investment Management LLC increased its stake in shares of NetEase by 29.7% in the second quarter. William Blair Investment Management LLC now owns 896,349 shares of the technology company’s stock worth $229,233,000 after buying an additional 204,989 shares during the period. Genesis Investment Management LLP purchased a new position in shares of NetEase in the third quarter worth $213,275,000. Finally, Coatue Management LLC purchased a new position in shares of NetEase in the second quarter worth $209,549,000. 48.44% of the stock is currently owned by hedge funds and other institutional investors.
NetEase (NASDAQ:NTES) last announced its earnings results on Wednesday, November 20th. The technology company reported $13.85 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $11.47. The business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.43 billion. NetEase had a net margin of 27.21% and a return on equity of 37.50%. On average, equities analysts expect that NetEase will post 18.68 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, December 6th will be paid a dividend of $4.14 per share. The ex-dividend date is Thursday, December 5th. This is an increase from NetEase’s previous quarterly dividend of $1.04. This represents a $16.56 annualized dividend and a dividend yield of 5.36%. NetEase’s dividend payout ratio (DPR) is 240.90%.
NetEase, Inc operates an interactive online community in the People's Republic of China. The company operates in four segments: Online Games Services, E-Commerce, Advertising Services, and Innovative Businesses and Other Services. It offers various games in a range of genres through mobile devices and PCs, including role-playing games, MMORPGs, battle arena games, simulation games, collectible card games, first-person shooter games, sandbox games, and other types of games to the Chinese market.
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