NetEase (NASDAQ:NTES) Hits New 52-Week Low at $80.45

NetEase, Inc. (NASDAQ:NTES)’s stock price hit a new 52-week low during trading on Wednesday . The company traded as low as $80.45 and last traded at $80.49, with a volume of 671532 shares. The stock had previously closed at $83.53.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Jefferies Financial Group dropped their price objective on shares of NetEase from $126.00 to $103.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Benchmark lifted their price target on NetEase from $144.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, May 24th. Bank of America reduced their price objective on NetEase from $142.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, August 23rd. Barclays dropped their target price on NetEase from $104.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday. Finally, Morgan Stanley reissued an “equal weight” rating and set a $100.00 price target on shares of NetEase in a research note on Friday, July 5th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $112.67.

NetEase Trading Down 0.1 %

The firm has a market capitalization of $51.66 billion, a PE ratio of 12.47, a PEG ratio of 1.81 and a beta of 0.53. The stock has a 50 day simple moving average of $90.82 and a 200 day simple moving average of $96.54.

NetEase (NASDAQ:NTES) last announced its quarterly earnings results on Thursday, August 22nd. The technology company reported $12.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $10.43. NetEase had a net margin of 28.75% and a return on equity of 24.19%. The business had revenue of $25.49 billion for the quarter, compared to analyst estimates of $26.01 billion. During the same quarter last year, the firm earned $1.75 EPS. The company’s revenue was up 6.1% on a year-over-year basis. As a group, equities analysts anticipate that NetEase, Inc. will post 6.7 earnings per share for the current year.

NetEase Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be paid a $0.435 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $1.74 annualized dividend and a dividend yield of 2.16%. NetEase’s payout ratio is presently 26.82%.

Institutional Investors Weigh In On NetEase

Institutional investors and hedge funds have recently bought and sold shares of the business. Mission Wealth Management LP increased its stake in shares of NetEase by 22.8% during the fourth quarter. Mission Wealth Management LP now owns 2,764 shares of the technology company’s stock valued at $257,000 after buying an additional 514 shares during the period. Victory Capital Management Inc. lifted its position in shares of NetEase by 301.6% in the 4th quarter. Victory Capital Management Inc. now owns 15,749 shares of the technology company’s stock worth $1,467,000 after purchasing an additional 11,827 shares during the period. First Trust Direct Indexing L.P. lifted its position in shares of NetEase by 7.8% in the 4th quarter. First Trust Direct Indexing L.P. now owns 5,950 shares of the technology company’s stock worth $554,000 after purchasing an additional 432 shares during the period. Natixis Advisors L.P. boosted its stake in shares of NetEase by 5.8% during the 4th quarter. Natixis Advisors L.P. now owns 138,960 shares of the technology company’s stock valued at $12,945,000 after purchasing an additional 7,616 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its position in shares of NetEase by 14.2% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,830 shares of the technology company’s stock valued at $171,000 after buying an additional 227 shares during the period. Hedge funds and other 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.