NetEase (NASDAQ:NTES) Shares Gap Down to $101.86

NetEase, Inc. (NASDAQ:NTES)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $101.86, but opened at $97.53. NetEase shares last traded at $97.45, with a volume of 495,638 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NTES. HSBC lowered their price target on NetEase from $130.00 to $126.00 and set a “buy” rating for the company in a report on Wednesday, April 24th. StockNews.com raised shares of NetEase from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Finally, Morgan Stanley dropped their price objective on shares of NetEase from $135.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $126.00.

NetEase Stock Performance

The company has a market cap of $63.50 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 0.94 and a beta of 0.58. The company has a 50-day simple moving average of $100.45 and a 200-day simple moving average of $102.55.

NetEase (NASDAQ:NTES) last posted its quarterly earnings data on Thursday, February 29th. The technology company reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.20). The firm had revenue of $3.82 billion during the quarter, compared to analyst estimates of $3.96 billion. NetEase had a net margin of 28.39% and a return on equity of 24.36%. As a group, equities research analysts forecast that NetEase, Inc. will post 7.04 EPS for the current year.

NetEase Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 4.39%. This is a positive change from NetEase’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Wednesday, March 13th. NetEase’s dividend payout ratio (DPR) is presently 67.93%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. lifted its position in shares of NetEase by 13.2% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 6,467 shares of the technology company’s stock valued at $648,000 after acquiring an additional 752 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of NetEase by 86.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,918 shares of the technology company’s stock valued at $1,695,000 after purchasing an additional 7,860 shares during the last quarter. Mackenzie Financial Corp boosted its stake in NetEase by 202.4% during the 3rd quarter. Mackenzie Financial Corp now owns 50,210 shares of the technology company’s stock valued at $4,962,000 after purchasing an additional 33,607 shares during the period. Advisor Partners II LLC grew its holdings in NetEase by 21.4% in the 3rd quarter. Advisor Partners II LLC now owns 5,022 shares of the technology company’s stock valued at $503,000 after buying an additional 885 shares during the last quarter. Finally, Park Avenue Securities LLC acquired a new position in shares of NetEase during the third quarter worth approximately $426,000. Institutional investors and hedge funds own 11.07% of the company’s stock.

About NetEase

NetEase, Inc engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China and internationally . The company operates through Games and Related Value-Added Services, Youdao, Cloud Music, and Innovative Businesses and Others segments.