NetEase (NASDAQ:NTES) Price Target Lowered to $105.00 at Benchmark

NetEase (NASDAQ:NTES) had its price target reduced by Benchmark from $120.00 to $105.00 in a report issued on Friday morning,Benzinga reports. Benchmark currently has a buy rating on the technology company’s stock.

A number of other equities analysts have also recently weighed in on NTES. StockNews.com cut NetEase from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 20th. Bank of America reduced their price objective on shares of NetEase from $142.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, August 23rd. Barclays decreased their price target on NetEase from $104.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, August 26th. Finally, Jefferies Financial Group lowered their price objective on shares of NetEase from $126.00 to $103.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, NetEase currently has an average rating of “Moderate Buy” and an average price target of $107.29.

NetEase Stock Up 1.5 %

NASDAQ NTES traded up $1.27 during mid-day trading on Friday, hitting $85.49. The stock had a trading volume of 2,041,932 shares, compared to its average volume of 1,748,095. The company has a 50 day simple moving average of $83.75 and a 200 day simple moving average of $89.01. The company has a market cap of $54.90 billion, a price-to-earnings ratio of 13.95, a P/E/G ratio of 1.69 and a beta of 0.57. NetEase has a 52-week low of $75.85 and a 52-week high of $118.89.

NetEase (NASDAQ:NTES) last issued its quarterly earnings data on Thursday, August 22nd. The technology company reported $12.05 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $10.43. NetEase had a net margin of 26.98% and a return on equity of 22.30%. The firm had revenue of $25.49 billion for the quarter, compared to analysts’ expectations of $26.01 billion. During the same period in the prior year, the company earned $1.75 EPS. The firm’s revenue was up 6.1% on a year-over-year basis. As a group, equities analysts anticipate that NetEase will post 6.02 earnings per share for the current fiscal year.

NetEase Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.435 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.74 annualized dividend and a dividend yield of 2.04%. NetEase’s dividend payout ratio (DPR) is presently 28.22%.

Institutional Investors Weigh In On NetEase

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NTES. Sequoia Financial Advisors LLC increased its position in shares of NetEase by 4.3% during the second quarter. Sequoia Financial Advisors LLC now owns 2,575 shares of the technology company’s stock worth $246,000 after acquiring an additional 107 shares during the last quarter. Guinness Atkinson Asset Management Inc increased its holdings in NetEase by 0.7% during the 2nd quarter. Guinness Atkinson Asset Management Inc now owns 15,422 shares of the technology company’s stock worth $1,474,000 after purchasing an additional 110 shares during the last quarter. SYSTM Wealth Solutions LLC raised its position in shares of NetEase by 55.5% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 328 shares of the technology company’s stock valued at $31,000 after purchasing an additional 117 shares in the last quarter. Fifth Third Bancorp grew its position in shares of NetEase by 1.9% during the second quarter. Fifth Third Bancorp now owns 7,658 shares of the technology company’s stock worth $732,000 after buying an additional 146 shares in the last quarter. Finally, State Street Corp increased its stake in shares of NetEase by 0.3% in the third quarter. State Street Corp now owns 56,729 shares of the technology company’s stock worth $5,305,000 after buying an additional 156 shares during the last quarter. Hedge funds and other institutional investors own 11.07% of the company’s stock.

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.