NetEase (NTES) Downgraded by Macquarie to Neutral

NetEase (NASDAQ:NTES) was downgraded by equities research analysts at Macquarie from an “outperform” rating to a “neutral” rating in a research note issued to investors on Thursday, The Fly reports.

A number of other equities analysts have also recently issued reports on NTES. BidaskClub upgraded shares of NetEase from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 6th. ValuEngine cut shares of NetEase from a “hold” rating to a “sell” rating in a research note on Thursday, May 17th. Benchmark lowered their target price on shares of NetEase from $355.00 to $340.00 and set a “buy” rating on the stock in a report on Thursday, May 17th. Barclays lowered their target price on shares of NetEase to $255.00 and set an “equal weight” rating on the stock in a report on Friday, May 18th. Finally, TheStreet lowered shares of NetEase from a “b” rating to a “c+” rating in a report on Friday, May 18th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $323.08.

Shares of NetEase traded down $27.77, reaching $225.20, during mid-day trading on Thursday, Marketbeat reports. The company’s stock had a trading volume of 120,681 shares, compared to its average volume of 573,169. NetEase has a 1-year low of $222.32 and a 1-year high of $377.64. The stock has a market cap of $33.86 billion, a price-to-earnings ratio of 18.07, a P/E/G ratio of 2.25 and a beta of 0.83.

NetEase (NASDAQ:NTES) last announced its quarterly earnings data on Wednesday, May 16th. The technology company reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.99 by ($1.08). NetEase had a net margin of 13.60% and a return on equity of 17.46%. The business had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.27 billion. research analysts forecast that NetEase will post 6.96 EPS for the current year.

A number of large investors have recently modified their holdings of NTES. Banco de Sabadell S.A bought a new stake in NetEase during the 1st quarter worth about $100,000. Verition Fund Management LLC bought a new position in shares of NetEase in the 1st quarter valued at about $279,000. HRT Financial LLC bought a new position in shares of NetEase in the 1st quarter valued at about $291,000. Pinnacle Associates Ltd. bought a new position in shares of NetEase in the 1st quarter valued at about $362,000. Finally, Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of NetEase by 201.8% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,334 shares of the technology company’s stock valued at $375,000 after purchasing an additional 892 shares during the last quarter. 45.86% of the stock is currently owned by hedge funds and other institutional investors.

About NetEase

NetEase, Inc operates an interactive online community in the People's Republic of China. The company operates through Online Game Services; E-Commerce; Advertising Services; and Email and Others segments. 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: Earnings Per Share

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