NetEase (NASDAQ:NTES) Posts Quarterly Earnings Results, Beats Estimates By $6.73 EPS

NetEase (NASDAQ:NTES – Get Rating) released its earnings results on Tuesday. The technology company reported $7.72 earnings per share for the quarter, topping the consensus estimate of $0.99 by $6.73, MarketWatch Earnings reports. The business had revenue of $23.56 billion for the quarter, compared to the consensus estimate of $23.12 billion. NetEase had a net margin of 19.25% and a return on equity of 18.79%. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period last year, the firm posted $1.00 earnings per share.

Shares of NetEase stock opened at $97.49 on Thursday. The firm has a fifty day simple moving average of $92.58 and a 200-day simple moving average of $97.24. The company has a current ratio of 2.24, a quick ratio of 2.22 and a debt-to-equity ratio of 0.01. NetEase has a 1-year low of $68.62 and a 1-year high of $119.61. The stock has a market capitalization of $65.31 billion, a price-to-earnings ratio of 25.13, a PEG ratio of 1.19 and a beta of 0.41.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 23rd. Stockholders of record on Wednesday, June 8th will be paid a $0.322 dividend. This represents a $1.29 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Tuesday, June 7th. NetEase’s payout ratio is 41.49%.

NTES has been the subject of several research reports. Citigroup decreased their price target on shares of NetEase from $136.00 to $133.00 in a report on Monday, February 14th. HSBC decreased their price target on shares of NetEase from $126.00 to $122.00 and set a “buy” rating for the company in a report on Wednesday. The Goldman Sachs Group initiated coverage on shares of NetEase in a report on Sunday, April 10th. They set a “buy” rating and a $132.00 price target for the company. 86 Research upgraded shares of NetEase from a “hold” rating to a “buy” rating and set a $113.00 price target for the company in a report on Friday, February 25th. Finally, JPMorgan Chase & Co. upgraded shares of NetEase from an “underweight” rating to an “overweight” rating and raised their price target for the stock from $60.00 to $120.00 in a report on Monday, May 16th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $126.63.

Institutional investors have recently modified their holdings of the company. Captrust Financial Advisors lifted its stake in shares of NetEase by 131.0% in the third quarter. Captrust Financial Advisors now owns 335 shares of the technology company’s stock worth $29,000 after buying an additional 190 shares during the last quarter. Ancora Advisors LLC increased its position in NetEase by 84.6% during the first quarter. Ancora Advisors LLC now owns 1,200 shares of the technology company’s stock worth $124,000 after acquiring an additional 550 shares during the period. XTX Topco Ltd bought a new position in NetEase during the first quarter worth $246,000. West Family Investments Inc. bought a new position in NetEase during the first quarter worth $266,000. Finally, JustInvest LLC increased its position in NetEase by 15.6% during the fourth quarter. JustInvest LLC now owns 3,294 shares of the technology company’s stock worth $335,000 after acquiring an additional 444 shares during the period. Institutional investors and hedge funds own 21.18% of the company’s stock.

About NetEase (Get Rating)

NetEase, Inc provides online services focusing on gaming, communication, and commerce in the Peoples' Republic of China and internationally. The company operates in three segments: Online Games Services, Youdao, and Innovative Businesses and Others. It develops and operates PC and mobile games, as well as offers games licensed from other game developers.

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