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

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

NetEase Stock Down 0.2 %

NTES opened at $82.08 on Friday. The firm has a market cap of $52.71 billion, a P/E ratio of 12.73, a PEG ratio of 1.81 and a beta of 0.53. The business’s fifty day simple moving average is $91.59 and its 200 day simple moving average is $97.22. NetEase has a 52 week low of $80.63 and a 52 week high of $118.89.

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 given a $0.435 dividend. The ex-dividend date is Friday, September 6th. This represents a $1.74 annualized dividend and a dividend yield of 2.12%. NetEase’s dividend payout ratio is currently 30.54%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on NTES shares. Barclays started coverage on shares of NetEase in a report on Thursday, June 13th. They issued an “equal weight” rating and a $104.00 target price for the company. Benchmark raised their target price 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. Bank of America dropped their price target on shares of NetEase from $142.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday. Jefferies Financial Group lowered their price target on shares of NetEase from $126.00 to $103.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, StockNews.com lowered NetEase from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 20th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, NetEase presently has an average rating of “Moderate Buy” and a consensus price target of $119.38.

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.