NetEase (NASDAQ:NTES) Given New $126.00 Price Target at HSBC

NetEase (NASDAQ:NTES) had its price target decreased by HSBC from $130.00 to $126.00 in a report issued on Wednesday, Benzinga reports. HSBC currently has a buy rating on the technology company’s stock.

Other analysts also recently issued reports about the company. Morgan Stanley reduced their target price on NetEase from $135.00 to $120.00 and set an overweight rating for the company in a report on Friday, April 12th. StockNews.com raised NetEase from a buy rating to a strong-buy rating in a report on Tuesday, March 26th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, NetEase presently has a consensus rating of Buy and a consensus price target of $126.00.

NetEase Stock Performance

NTES opened at $94.02 on Wednesday. The business’s 50-day simple moving average is $102.78 and its 200-day simple moving average is $103.09. The company has a market cap of $60.62 billion, a P/E ratio of 14.85, a PEG ratio of 0.85 and a beta of 0.58. NetEase has a one year low of $80.79 and a one year high of $118.89.

NetEase (NASDAQ:NTES) last issued its quarterly earnings data on Thursday, February 29th. The technology company reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.62 by ($0.20). The company had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $3.96 billion. NetEase had a return on equity of 24.36% and a net margin of 28.39%. As a group, analysts predict that NetEase will post 7.04 earnings per share for the current fiscal year.

NetEase Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a $1.08 dividend. This is a boost from NetEase’s previous quarterly dividend of $0.50. This represents a $4.32 annualized dividend and a dividend yield of 4.59%. The ex-dividend date was Wednesday, March 13th. NetEase’s dividend payout ratio (DPR) is currently 68.09%.

Institutional Investors Weigh In On NetEase

Several institutional investors have recently made changes to their positions in the stock. Financial Counselors Inc. lifted its position in shares of NetEase by 4.1% during the 4th quarter. Financial Counselors Inc. now owns 3,195 shares of the technology company’s stock valued at $298,000 after acquiring an additional 125 shares during the period. Lindbrook Capital LLC boosted its position in NetEase by 14.0% during the fourth quarter. Lindbrook Capital LLC now owns 1,043 shares of the technology company’s stock worth $97,000 after purchasing an additional 128 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in NetEase by 5.8% in the fourth quarter. Sequoia Financial Advisors LLC now owns 2,588 shares of the technology company’s stock valued at $241,000 after purchasing an additional 143 shares during the last quarter. Huntington National Bank grew its stake in NetEase by 31.4% in the 3rd quarter. Huntington National Bank now owns 678 shares of the technology company’s stock valued at $68,000 after acquiring an additional 162 shares during the last quarter. Finally, Panagora Asset Management Inc. grew its position in shares of NetEase by 1.5% in the third quarter. Panagora Asset Management Inc. now owns 12,201 shares of the technology company’s stock valued at $1,222,000 after purchasing an additional 178 shares during the last quarter. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

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.