NetEase (NASDAQ:NTES) Upgraded by BidaskClub to Sell

BidaskClub upgraded shares of NetEase (NASDAQ:NTES) from a strong sell rating to a sell rating in a research note released on Monday, BidAskClub reports.

Several other brokerages also recently weighed in on NTES. Benchmark reiterated a buy rating and issued a $305.00 price target (up from $295.00) on shares of NetEase in a report on Thursday, May 16th. Goldman Sachs Group cut shares of NetEase from a buy rating to a neutral rating in a research note on Sunday, August 11th. Jefferies Financial Group assumed coverage on shares of NetEase in a research note on Monday, August 5th. They set a buy rating and a $274.60 price objective for the company. Barclays boosted their price objective on shares of NetEase from $300.00 to $320.00 and gave the company an overweight rating in a research note on Monday, May 20th. Finally, TH Capital boosted their price objective on shares of NetEase from $270.00 to $310.00 and gave the company a buy rating in a research note on Monday, May 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the stock. NetEase currently has an average rating of Buy and an average price target of $277.34.

Shares of NTES opened at $254.72 on Monday. The stock has a fifty day moving average of $246.54 and a two-hundred day moving average of $251.31. The company has a market capitalization of $34.00 billion, a PE ratio of 37.08, a price-to-earnings-growth ratio of 0.77 and a beta of 0.87. NetEase has a fifty-two week low of $184.60 and a fifty-two week high of $289.68.

NetEase (NASDAQ:NTES) last issued its quarterly earnings results on Wednesday, May 15th. The technology company reported $2.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.86 by $0.89. The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.73 billion. NetEase had a return on equity of 18.89% and a net margin of 11.86%. NetEase’s revenue was up 23.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.59 EPS. As a group, research analysts anticipate that NetEase will post 10.28 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 23rd will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, August 22nd. This is a boost from NetEase’s previous quarterly dividend of $0.69. This represents a $4.16 annualized dividend and a dividend yield of 1.63%. NetEase’s payout ratio is currently 40.03%.

Several hedge funds and other institutional investors have recently made changes to their positions in NTES. Tower Research Capital LLC TRC purchased a new stake in NetEase during the 2nd quarter worth $47,000. Quantamental Technologies LLC purchased a new stake in NetEase during the 2nd quarter worth $49,000. Huntington National Bank boosted its position in NetEase by 101.0% during the 2nd quarter. Huntington National Bank now owns 209 shares of the technology company’s stock worth $53,000 after purchasing an additional 105 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in NetEase during the 2nd quarter worth $107,000. Finally, Close Asset Management Ltd boosted its position in NetEase by 233.3% during the 1st quarter. Close Asset Management Ltd now owns 500 shares of the technology company’s stock worth $121,000 after purchasing an additional 350 shares during the period. 46.49% of the stock is owned by institutional investors.

About NetEase

NetEase, Inc operates an interactive online community in the People's Republic of China. The company operates in four segments: Online Games Services, E-Commerce, Advertising Services, and Innovative Businesses and Other Services. It offers various games in a range of genres through mobile devices and PCs, including role-playing games, MMORPGs, battle arena games, simulation games, collectible card games, first-person shooter games, sandbox games, and other types of games to the Chinese market.

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