NetEase (NASDAQ:NTES) Announces Quarterly Earnings Results, Beats Estimates By $10.43 EPS

NetEase (NASDAQ:NTES) issued its quarterly earnings data on Thursday. The technology company reported $12.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $10.43, Briefing.com reports. The company had revenue of $25.49 billion for the quarter, compared to analyst estimates of $26.01 billion. NetEase had a return on equity of 24.19% and a net margin of 28.75%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.75 earnings per share.

NetEase Trading Down 0.2 %

NTES stock opened at $82.08 on Friday. The firm has a 50 day moving average of $91.59 and a 200-day moving average of $97.22. NetEase has a 12-month low of $80.63 and a 12-month high of $118.89. The company has a market cap of $52.71 billion, a price-to-earnings ratio of 12.73, a PEG ratio of 1.81 and a beta of 0.53.

NetEase Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be given a dividend of $0.435 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 2.12%. NetEase’s payout ratio is 30.54%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Jefferies Financial Group dropped their price objective on NetEase from $126.00 to $103.00 and set a “buy” rating on the stock in a report on Thursday. Bank of America decreased their target price on shares of NetEase from $142.00 to $120.00 and set a “buy” rating for the company in a research note on Friday. Benchmark increased their target price on shares of NetEase from $144.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, May 24th. Barclays started coverage on shares of NetEase in a research note on Thursday, June 13th. They set an “equal weight” rating and a $104.00 target price for the company. Finally, StockNews.com downgraded shares of NetEase from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 20th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $119.38.

NetEase Company Profile

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.