NetEase (NASDAQ:NTES) Given “Equal Weight” Rating at Morgan Stanley

Morgan Stanley reiterated their equal weight rating on shares of NetEase (NASDAQ:NTES) in a report released on Thursday, Marketbeat.com reports. They currently have a $100.00 price objective on the technology company’s stock, down from their previous price objective of $120.00.

Several other research firms have also recently commented on NTES. HSBC dropped their price objective on NetEase from $130.00 to $126.00 and set a buy rating on the stock in a research report on Wednesday, April 24th. StockNews.com lowered shares of NetEase from a strong-buy rating to a buy rating in a research note on Thursday, May 16th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $123.50.

NetEase Stock Performance

NASDAQ:NTES opened at $94.74 on Thursday. The firm has a 50-day simple moving average of $98.80 and a two-hundred day simple moving average of $102.05. The firm has a market cap of $60.84 billion, a P/E ratio of 14.97, a P/E/G ratio of 0.80 and a beta of 0.58. NetEase has a fifty-two week low of $80.79 and a fifty-two week high of $118.89.

NetEase (NASDAQ:NTES) last announced its quarterly earnings data on Thursday, February 29th. The technology company reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.20). NetEase had a return on equity of 24.36% and a net margin of 28.39%. The firm had revenue of $3.82 billion during the quarter, compared to analysts’ expectations of $3.96 billion. On average, equities research analysts predict that NetEase will post 7.06 EPS for the current year.

NetEase Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $1.08 per share. This is a boost from NetEase’s previous quarterly dividend of $0.50. This represents a $4.32 dividend on an annualized basis and a dividend yield of 4.56%. The ex-dividend date was Wednesday, March 13th. NetEase’s payout ratio is presently 68.09%.

Institutional Investors Weigh In On NetEase

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Financial Counselors Inc. boosted its position in shares of NetEase by 4.1% in the fourth quarter. Financial Counselors Inc. now owns 3,195 shares of the technology company’s stock worth $298,000 after purchasing an additional 125 shares during the period. Mendota Financial Group LLC lifted its stake in shares of NetEase by 9.2% during the 1st quarter. Mendota Financial Group LLC now owns 1,508 shares of the technology company’s stock valued at $156,000 after buying an additional 127 shares in the last quarter. Lindbrook Capital LLC boosted its holdings in NetEase by 14.0% in the 4th quarter. Lindbrook Capital LLC now owns 1,043 shares of the technology company’s stock worth $97,000 after buying an additional 128 shares during the period. Sequoia Financial Advisors LLC increased its stake in NetEase by 5.8% in the 4th quarter. Sequoia Financial Advisors LLC now owns 2,588 shares of the technology company’s stock worth $241,000 after buying an additional 143 shares in the last quarter. Finally, Huntington National Bank raised its holdings in NetEase by 31.4% during the third 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 period. 11.07% of the stock is 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.