NetEase (NASDAQ:NTES) Shares Gap Down to $92.47

NetEase, Inc. (NASDAQ:NTESGet Free Report)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $92.47, but opened at $90.00. NetEase shares last traded at $89.91, with a volume of 122,678 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Barclays started coverage on shares of NetEase in a report on Thursday, June 13th. They issued an “equal weight” rating and a $104.00 price target on the stock. StockNews.com cut shares of NetEase from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 16th. HSBC dropped their target price on shares of NetEase from $130.00 to $126.00 and set a “buy” rating for the company in a research note on Wednesday, April 24th. Morgan Stanley reissued an “equal weight” rating and set a $100.00 price target (down from $120.00) on shares of NetEase in a research note on Thursday, May 23rd. Finally, Benchmark increased their price objective on NetEase from $144.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, May 24th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $123.00.

Check Out Our Latest Stock Report on NTES

NetEase Stock Performance

The company has a 50-day moving average price of $95.17 and a 200-day moving average price of $99.13. The company has a market capitalization of $58.31 billion, a price-to-earnings ratio of 13.98, a price-to-earnings-growth ratio of 1.80 and a beta of 0.52.

NetEase (NASDAQ:NTESGet Free Report) last released its quarterly earnings data on Thursday, May 23rd. The technology company reported $1.63 earnings per share for the quarter, missing the consensus estimate of $1.68 by ($0.05). NetEase had a net margin of 28.75% and a return on equity of 24.19%. The business had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.61 billion. As a group, sell-side analysts anticipate that NetEase, Inc. will post 6.86 earnings per share for the current fiscal year.

NetEase Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Thursday, June 6th will be issued a dividend of $0.495 per share. This represents a $1.98 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date is Thursday, June 6th. NetEase’s dividend payout ratio (DPR) is presently 30.54%.

Institutional Trading of NetEase

A number of institutional investors have recently modified their holdings of the company. Aurora Investment Counsel increased its position in shares of NetEase by 6.8% in the first quarter. Aurora Investment Counsel now owns 24,766 shares of the technology company’s stock valued at $2,563,000 after acquiring an additional 1,568 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in shares of NetEase by 20.9% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 181,700 shares of the technology company’s stock worth $18,800,000 after acquiring an additional 31,400 shares during the period. Advisory Resource Group increased its holdings in shares of NetEase by 40.1% during the 1st quarter. Advisory Resource Group now owns 8,335 shares of the technology company’s stock worth $862,000 after acquiring an additional 2,385 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its holdings in shares of NetEase by 21.9% in the first quarter. B. Riley Wealth Advisors Inc. now owns 4,127 shares of the technology company’s stock valued at $413,000 after purchasing an additional 741 shares during the last quarter. Finally, Kingdon Capital Management L.L.C. bought a new position in NetEase in the 1st quarter valued at about $8,795,000. 11.07% of the stock is currently owned by institutional investors.

About NetEase

(Get Free Report)

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.

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