NetEase (NASDAQ:NTES) Upgraded to Strong-Buy at StockNews.com

StockNews.com upgraded shares of NetEase (NASDAQ:NTES) from a buy rating to a strong-buy rating in a report published on Wednesday.

NTES has been the subject of a number of other research reports. HSBC lowered their price target on shares of NetEase from $130.00 to $126.00 and set a buy rating for the company in a report on Wednesday, April 24th. Morgan Stanley lowered their target price on NetEase from $135.00 to $120.00 and set an overweight rating for the company in a research note on Friday, April 12th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, NetEase presently has a consensus rating of Buy and an average target price of $126.00.

NetEase Stock Performance

NetEase stock opened at $96.63 on Wednesday. NetEase has a 52 week low of $80.79 and a 52 week high of $118.89. The firm has a market cap of $62.30 billion, a P/E ratio of 15.27, a P/E/G ratio of 0.94 and a beta of 0.58. The business’s fifty day moving average is $100.76 and its two-hundred day moving average is $102.59.

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

NetEase Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a $1.08 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 4.47%. This is an increase from NetEase’s previous quarterly dividend of $0.50. NetEase’s dividend payout ratio is 67.93%.

Hedge Funds Weigh In On NetEase

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Private Trust Co. NA raised its position in shares of NetEase by 418.9% in the 4th quarter. Private Trust Co. NA now owns 275 shares of the technology company’s stock valued at $26,000 after acquiring an additional 222 shares during the period. Chilton Capital Management LLC bought a new position in shares of NetEase during the fourth quarter worth $37,000. USA Financial Formulas grew its holdings in shares of NetEase by 1,153.1% in the 4th quarter. USA Financial Formulas now owns 401 shares of the technology company’s stock valued at $37,000 after buying an additional 369 shares during the period. UMB Bank n.a. bought a new stake in shares of NetEase in the 1st quarter valued at $50,000. Finally, ORG Partners LLC acquired a new stake in NetEase during the 1st quarter worth $50,000. Institutional investors 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.