NetEase (NASDAQ:NTES) Upgraded by BidaskClub to Sell

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

NTES has been the topic of several other research reports. TH Capital increased their price objective on shares of NetEase from $270.00 to $310.00 and gave the stock a buy rating in a research note on Monday, May 13th. 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 on the stock. China Renaissance Securities upgraded shares of NetEase from a hold rating to a buy rating in a research note on Thursday, May 16th. Goldman Sachs Group lowered shares of NetEase from a buy rating to a neutral rating in a research note on Sunday, August 11th. Finally, Zacks Investment Research upgraded shares of NetEase from a hold rating to a buy rating and set a $238.00 price objective on the stock in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $277.34.

Shares of NetEase stock opened at $254.72 on Monday. The firm has a market cap 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. The firm’s 50-day simple moving average is $246.54 and its 200-day simple moving average is $251.31. NetEase has a 1 year low of $184.60 and a 1 year high of $289.68.

NetEase (NASDAQ:NTES) last released its quarterly earnings data on Wednesday, May 15th. The technology company reported $2.75 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.89. The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.73 billion. NetEase had a net margin of 11.86% and a return on equity of 18.89%. NetEase’s quarterly revenue was up 23.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.59 earnings per share. Equities analysts expect that NetEase will post 10.28 EPS for the current year.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of NTES. Dimensional Fund Advisors LP grew its position in NetEase by 2.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 446,824 shares of the technology company’s stock worth $105,251,000 after purchasing an additional 12,241 shares during the last quarter. Principal Financial Group Inc. bought a new position in NetEase in the 4th quarter worth about $1,611,000. USS Investment Management Ltd grew its position in NetEase by 35.2% in the 1st quarter. USS Investment Management Ltd now owns 192,000 shares of the technology company’s stock worth $46,350,000 after purchasing an additional 50,000 shares during the last quarter. Virtu Financial LLC bought a new position in NetEase in the 1st quarter worth about $251,000. Finally, Ridgewood Investments LLC grew its position in NetEase by 62.8% in the 1st quarter. Ridgewood Investments LLC now owns 2,238 shares of the technology company’s stock worth $540,000 after purchasing an additional 863 shares during the last quarter. Hedge funds and other institutional investors own 46.49% of the company’s stock.

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.

See Also: Economic Reports

Analyst Recommendations for NetEase (NASDAQ:NTES)

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