NetEase (NASDAQ:NTES) Releases Quarterly Earnings Results, Beats Expectations By $10.43 EPS

NetEase (NASDAQ:NTES) released its quarterly earnings results on Thursday. The technology company reported $12.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $10.43, Briefing.com reports. The business had revenue of $25.49 billion during the quarter, compared to analyst estimates of $26.01 billion. NetEase had a return on equity of 24.19% and a net margin of 28.75%. NetEase’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the company posted $1.75 EPS.

NetEase Trading Down 0.2 %

Shares of NASDAQ NTES opened at $82.08 on Friday. The business has a fifty day simple moving average of $91.59 and a 200 day simple moving average of $97.22. NetEase has a one year low of $80.63 and a one year high of $118.89. The firm has a market capitalization of $52.71 billion, a price-to-earnings ratio of 12.73, a PEG ratio of 1.81 and a beta of 0.53.

NetEase Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be issued a dividend of $0.435 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $1.74 annualized dividend and a dividend yield of 2.12%. NetEase’s payout ratio is 30.54%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Bank of America decreased their target price on shares of NetEase from $142.00 to $120.00 and set a “buy” rating for the company in a report on Friday. Jefferies Financial Group decreased their price target on shares of NetEase from $126.00 to $103.00 and set a “buy” rating for the company in a report on Thursday. Morgan Stanley reissued an “equal weight” rating and set a $100.00 target price on shares of NetEase in a research note on Friday, July 5th. Benchmark upped their price target on shares of NetEase from $144.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, May 24th. Finally, Barclays began coverage on NetEase in a research report on Thursday, June 13th. They set an “equal weight” rating and a $104.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.38.

NetEase Company Profile

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.