NetEase (NASDAQ:NTES) Cut to Strong Sell at ValuEngine

ValuEngine downgraded shares of NetEase (NASDAQ:NTES) from a sell rating to a strong sell rating in a report published on Tuesday, ValuEngine reports.

A number of other analysts have also recently issued reports on NTES. Citigroup lifted their target price on shares of NetEase from $301.00 to $326.00 and gave the company a buy rating in a research note on Friday, September 6th. Tigress Financial assumed coverage on shares of NetEase in a research report on Friday, August 16th. They issued a buy rating for the company. Jefferies Financial Group initiated coverage on shares of NetEase in a research note on Monday, August 5th. They set a buy rating and a $274.60 price target on the stock. Macquarie initiated coverage on shares of NetEase in a report on Thursday, November 21st. They set an outperform rating and a $363.00 price target on the stock. Finally, BidaskClub upgraded shares of NetEase from a sell rating to a hold rating in a report on Saturday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the stock. NetEase presently has a consensus rating of Buy and an average target price of $312.59.

Shares of NASDAQ NTES opened at $317.32 on Tuesday. The business has a 50 day simple moving average of $294.68 and a 200 day simple moving average of $266.22. NetEase has a 52 week low of $209.01 and a 52 week high of $320.00. The stock has a market cap of $40.35 billion, a price-to-earnings ratio of 46.19, a PEG ratio of 0.40 and a beta of 0.81.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, December 6th will be given a dividend of $4.14 per share. The ex-dividend date is Thursday, December 5th. This represents a $16.56 dividend on an annualized basis and a yield of 5.22%. This is a boost from NetEase’s previous quarterly dividend of $1.04. NetEase’s dividend payout ratio is presently 60.41%.

A number of hedge funds have recently made changes to their positions in NTES. Tower Research Capital LLC TRC acquired a new stake in shares of NetEase in the second quarter worth $47,000. Quantamental Technologies LLC bought a new position in NetEase in the 2nd quarter worth $49,000. FNY Investment Advisers LLC acquired a new position in NetEase during the 3rd quarter worth $51,000. Oppenheimer Asset Management Inc. acquired a new position in NetEase during the 2nd quarter worth $107,000. Finally, CSat Investment Advisory L.P. bought a new stake in NetEase during the second quarter valued at about $140,000. Institutional investors own 48.24% of the company’s stock.

NetEase Company Profile

NetEase, Inc operates an interactive online community in the People's Republic of China. The company operates in four segments: Online Games Services, E-Commerce, Advertising Services, and Innovative Businesses and Other Services. It offers various games in a range of genres through mobile devices and PCs, including role-playing games, MMORPGs, battle arena games, simulation games, collectible card games, first-person shooter games, sandbox games, and other types of games to the Chinese market.

Further Reading: Why do company’s buyback their stock?

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Analyst Recommendations for NetEase (NASDAQ:NTES)

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