NetEase, Inc. (NASDAQ:NTES – Get Rating)’s share price dropped 4.6% on Friday after HSBC lowered their price target on the stock from $122.00 to $105.00. HSBC currently has a buy rating on the stock. NetEase traded as low as $66.95 and last traded at $67.70. Approximately 19,341 shares were traded during mid-day trading, a decline of 99% from the average daily volume of 2,617,155 shares. The stock had previously closed at $71.00.
A number of other brokerages have also weighed in on NTES. JPMorgan Chase & Co. lowered shares of NetEase from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $120.00 to $90.00 in a research note on Wednesday, September 7th. TheStreet lowered shares of NetEase from a “b-” rating to a “c” rating in a research note on Monday, November 7th. Citigroup raised their target price on shares of NetEase from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday. Finally, StockNews.com lowered shares of NetEase from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, NetEase currently has an average rating of “Moderate Buy” and a consensus price target of $111.50.
Institutional Trading of NetEase
Institutional investors have recently added to or reduced their stakes in the stock. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in NetEase in the 2nd quarter valued at approximately $31,000. James Investment Research Inc. acquired a new stake in NetEase in the 2nd quarter valued at approximately $34,000. Clear Street Markets LLC acquired a new stake in NetEase in the 3rd quarter valued at approximately $30,000. CWM LLC increased its holdings in NetEase by 127.7% in the 2nd quarter. CWM LLC now owns 444 shares of the technology company’s stock valued at $41,000 after purchasing an additional 249 shares during the last quarter. Finally, FNY Investment Advisers LLC increased its holdings in NetEase by 549.3% in the 3rd quarter. FNY Investment Advisers LLC now owns 487 shares of the technology company’s stock valued at $36,000 after purchasing an additional 412 shares during the last quarter. Institutional investors and hedge funds own 14.76% of the company’s stock.
NetEase Price Performance
The company has a current ratio of 2.23, a quick ratio of 2.21 and a debt-to-equity ratio of 0.03. The company’s fifty day moving average is $71.27 and its two-hundred day moving average is $85.58. The stock has a market cap of $44.29 billion, a price-to-earnings ratio of 16.47, a P/E/G ratio of 1.23 and a beta of 0.37.
NetEase (NASDAQ:NTES – Get Rating) last posted its quarterly earnings results on Thursday, August 18th. The technology company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.91 by $0.14. The business had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.44 billion. NetEase had a net margin of 19.88% and a return on equity of 18.37%. As a group, research analysts predict that NetEase, Inc. will post 4.12 earnings per share for the current year.
NetEase Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Friday, December 2nd will be paid a $0.435 dividend. This is an increase from NetEase’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, December 1st. This represents a $1.74 annualized dividend and a dividend yield of 2.57%. NetEase’s payout ratio is 33.18%.
NetEase Company Profile
NetEase, Inc provides online services focusing on diverse content, community, communication, and commerce in the Peoples’ Republic of China and internationally. The company operates in three segments: Online Game Services, Youdao, Cloud Music, and Innovative Businesses and Others. It develops and operates PC and mobile games, as well as offers games licensed from other game developers.