HSBC Trims NetEase (NASDAQ:NTES) Target Price to $126.00

NetEase (NASDAQ:NTES) had its target price reduced by HSBC from $130.00 to $126.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a buy rating on the technology company’s stock.

Several other analysts also recently weighed in on NTES. StockNews.com raised NetEase from a buy rating to a strong-buy rating in a research note on Tuesday, March 26th. Morgan Stanley dropped their price objective on NetEase from $135.00 to $120.00 and set an overweight rating on the stock in a research note on Friday, April 12th. 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 MarketBeat, NetEase currently has a consensus rating of Buy and a consensus target price of $126.00.

NetEase Price Performance

Shares of NetEase stock opened at $95.99 on Wednesday. The business’s fifty day moving average price is $102.27 and its two-hundred day moving average price is $102.97. The company has a market capitalization of $61.89 billion, a P/E ratio of 15.16, a PEG ratio of 0.86 and a beta of 0.58. NetEase has a 1-year low of $80.79 and a 1-year high of $118.89.

NetEase (NASDAQ:NTES) last announced its earnings results 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 business had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.96 billion. NetEase had a net margin of 28.39% and a return on equity of 24.36%. On average, research analysts expect that NetEase will post 7.04 earnings per share for the current fiscal year.

NetEase Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date of this dividend was Wednesday, March 13th. This is an increase from NetEase’s previous quarterly dividend of $0.50. NetEase’s payout ratio is currently 68.09%.

Institutional Investors Weigh In On NetEase

Institutional investors and hedge funds have recently modified their holdings of the stock. Private Trust Co. NA raised its position in shares of NetEase by 418.9% during the fourth quarter. Private Trust Co. NA now owns 275 shares of the technology company’s stock worth $26,000 after purchasing an additional 222 shares during the period. Chilton Capital Management LLC acquired a new stake in shares of NetEase during the fourth quarter worth $37,000. USA Financial Formulas raised its position in shares of NetEase by 1,153.1% during the fourth quarter. USA Financial Formulas now owns 401 shares of the technology company’s stock worth $37,000 after purchasing an additional 369 shares during the period. UMB Bank n.a. acquired a new stake in shares of NetEase during the first quarter worth $50,000. Finally, Headlands Technologies LLC acquired a new stake in shares of NetEase during the third quarter worth $56,000. 11.07% of the stock is owned by institutional investors and hedge funds.

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.