CLSA Lowers NetEase, Inc. (NTES) to Sell
CLSA lowered shares of NetEase, Inc. (NASDAQ:NTES) from an underperform rating to a sell rating in a research report sent to investors on Thursday, MarketBeat Ratings reports. CLSA currently has $283.00 price objective on the technology company’s stock.
Other equities research analysts have also issued research reports about the company. Vetr lowered NetEase from a strong-buy rating to a buy rating and set a $327.04 target price on the stock. in a research report on Monday, September 18th. BidaskClub upgraded NetEase from a hold rating to a buy rating in a research note on Thursday, August 10th. Deutsche Bank AG restated a buy rating and issued a $343.00 price target (up from $300.00) on shares of NetEase in a research note on Tuesday, July 25th. ValuEngine upgraded NetEase from a hold rating to a buy rating in a research note on Friday, November 10th. Finally, Barclays PLC initiated coverage on NetEase in a research note on Wednesday, October 4th. They issued an equal weight rating and a $260.00 price target for the company. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. NetEase has an average rating of Hold and an average price target of $320.38.
Shares of NetEase (NTES) traded up $41.26 during trading on Thursday, reaching $367.50. The company had a trading volume of 6,047,300 shares, compared to its average volume of 1,456,035. NetEase has a 1-year low of $211.11 and a 1-year high of $375.10. The firm has a market cap of $48,547.12, a price-to-earnings ratio of 24.47, a PEG ratio of 1.55 and a beta of 0.91.
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The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, December 1st will be paid a $0.717 dividend. The ex-dividend date is Thursday, November 30th. This represents a $2.87 annualized dividend and a yield of 0.78%. NetEase’s dividend payout ratio (DPR) is presently 25.50%.
NetEase declared that its Board of Directors has authorized a stock buyback plan on Wednesday, November 15th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the technology company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. OLD National Bancorp IN raised its holdings in NetEase by 0.4% in the 2nd quarter. OLD National Bancorp IN now owns 930 shares of the technology company’s stock valued at $280,000 after acquiring an additional 4 shares in the last quarter. Ameritas Investment Partners Inc. raised its holdings in NetEase by 1.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,366 shares of the technology company’s stock valued at $411,000 after acquiring an additional 17 shares in the last quarter. Financial Counselors Inc. raised its holdings in shares of NetEase by 1.7% during the 2nd quarter. Financial Counselors Inc. now owns 1,211 shares of the technology company’s stock worth $364,000 after buying an additional 20 shares in the last quarter. HPM Partners LLC raised its holdings in shares of NetEase by 2.3% during the 2nd quarter. HPM Partners LLC now owns 1,334 shares of the technology company’s stock worth $401,000 after buying an additional 30 shares in the last quarter. Finally, US Bancorp DE raised its holdings in shares of NetEase by 1.3% during the 2nd quarter. US Bancorp DE now owns 4,041 shares of the technology company’s stock worth $1,215,000 after buying an additional 50 shares in the last quarter. 50.30% 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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