NetEase, Inc. (NASDAQ:NTES) to Issue $0.44 Quarterly Dividend

NetEase, Inc. (NASDAQ:NTES) announced a quarterly dividend on Thursday, November 14th,Wall Street Journal reports. Stockholders of record on Friday, November 29th will be given a dividend of 0.435 per share by the technology company on Friday, December 13th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, November 29th.

NetEase has raised its dividend payment by an average of 23.7% per year over the last three years. NetEase has a dividend payout ratio of 23.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect NetEase to earn $6.64 per share next year, which means the company should continue to be able to cover its $1.74 annual dividend with an expected future payout ratio of 26.2%.

NetEase Price Performance

Shares of NetEase stock opened at $86.56 on Thursday. NetEase has a one year low of $75.85 and a one year high of $115.00. The business’s 50 day simple moving average is $85.30 and its two-hundred day simple moving average is $88.33. The stock has a market capitalization of $55.59 billion, a P/E ratio of 14.62, a price-to-earnings-growth ratio of 3.16 and a beta of 0.57.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Benchmark lowered their price target on shares of NetEase from $120.00 to $105.00 and set a “buy” rating for the company in a report on Friday, November 15th. Bank of America lowered their price objective on shares of NetEase from $142.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, August 23rd. Jefferies Financial Group cut their target price on NetEase from $126.00 to $103.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Barclays reduced their price target on NetEase from $104.00 to $82.00 and set an “equal weight” rating on the stock in a report on Monday, August 26th. Finally, Citigroup increased their price objective on NetEase from $108.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, NetEase presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.29.

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.