StockNews.com upgraded shares of NetEase (NASDAQ:NTES – Free Report) from a buy rating to a strong-buy rating in a report released on Tuesday.
NetEase Stock Down 0.2 %
Shares of NASDAQ:NTES opened at $103.47 on Tuesday. NetEase has a 12 month low of $80.79 and a 12 month high of $118.89. The company’s fifty day simple moving average is $104.72 and its 200 day simple moving average is $103.68. The firm has a market cap of $66.71 billion, a price-to-earnings ratio of 16.35, a PEG ratio of 0.90 and a beta of 0.59.
NetEase (NASDAQ:NTES – Get Free Report) last released its earnings results 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). The business had revenue of $3.82 billion during 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%. Research analysts expect that NetEase will post 7.19 earnings per share for the current fiscal year.
NetEase Increases Dividend
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of NTES. Private Trust Co. NA boosted its holdings in shares of NetEase by 418.9% during the 4th quarter. Private Trust Co. NA now owns 275 shares of the technology company’s stock worth $26,000 after buying an additional 222 shares during the period. Chilton Capital Management LLC acquired a new stake in NetEase in the 4th quarter worth about $37,000. USA Financial Formulas raised its position in shares of NetEase by 1,153.1% in the 4th quarter. USA Financial Formulas now owns 401 shares of the technology company’s stock valued at $37,000 after buying an additional 369 shares in the last quarter. Pinpoint Asset Management Ltd acquired a new position in shares of NetEase in the 1st quarter valued at approximately $42,000. Finally, First Capital Advisors Group LLC. acquired a new position in shares of NetEase in the 2nd quarter valued at approximately $47,000. Institutional investors own 11.07% of the company’s stock.
About NetEase
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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