NetEase (NASDAQ:NTES) issued its quarterly earnings results on Wednesday. The technology company reported $2.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.86 by $0.89, Morningstar.com reports. NetEase had a net margin of 9.12% and a return on equity of 13.60%. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.73 billion. During the same quarter in the prior year, the business posted $1.59 EPS. NetEase’s revenue for the quarter was up 23.0% compared to the same quarter last year.
Shares of NASDAQ:NTES traded up $13.72 during midday trading on Thursday, reaching $275.76. The company’s stock had a trading volume of 39,565 shares, compared to its average volume of 748,743. The firm has a market capitalization of $33.43 billion, a P/E ratio of 40.32, a PEG ratio of 24.89 and a beta of 0.81. NetEase has a twelve month low of $184.60 and a twelve month high of $289.68.
Several large investors have recently added to or reduced their stakes in NTES. Bank of New York Mellon Corp increased its stake in shares of NetEase by 0.7% in the third quarter. Bank of New York Mellon Corp now owns 142,041 shares of the technology company’s stock worth $32,420,000 after acquiring an additional 968 shares during the period. Morgan Stanley grew its position in NetEase by 4.7% during the third quarter. Morgan Stanley now owns 142,608 shares of the technology company’s stock valued at $32,551,000 after buying an additional 6,352 shares during the period. Vanguard Group Inc grew its position in NetEase by 1.7% during the third quarter. Vanguard Group Inc now owns 2,562,086 shares of the technology company’s stock valued at $584,796,000 after buying an additional 43,455 shares during the period. Fox Run Management L.L.C. acquired a new stake in NetEase during the fourth quarter valued at $585,000. Finally, Quadrant Capital Group LLC grew its position in NetEase by 775.9% during the fourth quarter. Quadrant Capital Group LLC now owns 508 shares of the technology company’s stock valued at $116,000 after buying an additional 450 shares during the period. Hedge funds and other institutional investors own 44.96% of the company’s stock.
NTES has been the topic of a number of recent analyst reports. Benchmark upped their price target on shares of NetEase from $295.00 to $305.00 and gave the company a “buy” rating in a research note on Thursday. ValuEngine upgraded shares of NetEase from a “hold” rating to a “buy” rating in a research note on Thursday, April 4th. BidaskClub upgraded shares of NetEase from a “hold” rating to a “buy” rating in a research note on Thursday, March 14th. TH Capital upped their price target on shares of NetEase from $270.00 to $310.00 and gave the company a “buy” rating in a research note on Monday. Finally, Zacks Investment Research upgraded shares of NetEase from a “sell” rating to a “hold” rating in a research note on Wednesday, January 16th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $278.45.
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.
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