NetEase Inc. (NTES) Reaches New 52-Week High at $252.42
NetEase Inc. (NASDAQ:NTES) reached a new 52-week high during trading on Monday . The stock traded as high as $252.42 and last traded at $246.63, with a volume of 1,390,867 shares. The stock had previously closed at $238.03.
NTES has been the subject of several analyst reports. Brean Capital restated a “buy” rating on shares of NetEase in a research note on Wednesday, August 31st. Deutsche Bank AG upped their price target on NetEase from $190.00 to $207.00 and gave the stock a “buy” rating in a research note on Friday, June 24th. Zacks Investment Research upgraded NetEase from a “hold” rating to a “buy” rating and set a $232.00 price target for the company in a research note on Thursday, July 28th. Vetr cut NetEase from a “buy” rating to a “hold” rating and set a $212.23 price target for the company. in a research note on Monday, August 15th. Finally, Credit Suisse Group AG initiated coverage on NetEase in a research note on Friday, August 19th. They set a “neutral” rating and a $230.00 price target for the company. Three research analysts have rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. NetEase currently has a consensus rating of “Buy” and an average price target of $197.91.
The firm’s 50 day moving average is $210.04 and its 200-day moving average is $171.75. The stock has a market cap of $32.31 billion, a P/E ratio of 23.56 and a beta of 1.29.
NetEase (NASDAQ:NTES) last issued its earnings results on Wednesday, August 17th. The company reported $3.67 EPS for the quarter, topping the 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 research analysts forecast that NetEase Inc. will post $12.14 EPS for the current fiscal 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 $0.78 dividend. This is an increase from NetEase’s previous quarterly dividend of $0.73. The ex-dividend date was Monday, August 29th. This represents a $3.12 annualized dividend and a dividend yield of 1.26%. NetEase’s dividend payout ratio (DPR) is 25.14%.
Hedge funds have recently made changes to their positions in the company. Orbis Allan Gray Ltd bought a new stake in shares of NetEase during the first quarter valued at about $1,449,733,000. Lazard Asset Management LLC increased its stake 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 valued at $722,028,000 after buying an additional 21,375 shares during the period. Comgest Global Investors S.A.S. increased its stake 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 valued at $564,418,000 after buying an additional 12,423 shares during the period. Renaissance Technologies LLC increased its stake 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 valued at $314,110,000 after buying an additional 191,600 shares during the period. Finally, 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 during the period. 60.15% 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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