FY2017 EPS Estimates for NetEase Inc (NTES) Decreased by Jefferies Group

NetEase Inc (NASDAQ:NTES) – Research analysts at Jefferies Group decreased their FY2017 earnings estimates for NetEase in a note issued to investors on Monday, Zacks Investment Research reports. Jefferies Group analyst K. Chan now forecasts that the technology company will post earnings of $12.91 per share for the year, down from their prior estimate of $13.20. Jefferies Group has a “Hold” rating and a $302.00 price objective on the stock. Jefferies Group also issued estimates for NetEase’s Q4 2017 earnings at $2.41 EPS, FY2018 earnings at $14.41 EPS and FY2019 earnings at $15.80 EPS.

Other equities analysts have also recently issued reports about the company. Vetr upgraded NetEase from a “buy” rating to a “strong-buy” rating and set a $375.44 target price for the company in a report on Wednesday. BidaskClub cut NetEase from a “hold” rating to a “sell” rating in a report on Thursday. Benchmark lowered their target price on NetEase from $360.00 to $340.00 and set a “buy” rating for the company in a report on Thursday, November 16th. Deutsche Bank set a $334.00 target price on NetEase and gave the company a “buy” rating in a report on Thursday, November 16th. Finally, Citigroup restated a “buy” rating and set a $351.00 target price on shares of NetEase in a report on Thursday, November 16th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $339.89.

Shares of NetEase (NASDAQ:NTES) traded up $1.43 during trading on Thursday, reaching $328.83. The company had a trading volume of 1,057,007 shares, compared to its average volume of 1,347,133. NetEase has a 12 month low of $233.50 and a 12 month high of $377.64. The stock has a market cap of $43,440.00, a PE ratio of 21.62, a price-to-earnings-growth ratio of 1.61 and a beta of 0.94.

NetEase announced that its board has authorized a stock repurchase program on Wednesday, November 15th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the technology company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Several institutional investors and hedge funds have recently made changes to their positions in NTES. IFP Advisors Inc boosted its stake in shares of NetEase by 21.4% in the 2nd quarter. IFP Advisors Inc now owns 391 shares of the technology company’s stock valued at $118,000 after buying an additional 69 shares during the period. Ladenburg Thalmann Financial Services Inc. lifted its stake in NetEase by 117.6% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 494 shares of the technology company’s stock worth $131,000 after purchasing an additional 267 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in NetEase by 22.4% during the second quarter. PNC Financial Services Group Inc. now owns 536 shares of the technology company’s stock worth $161,000 after purchasing an additional 98 shares during the last quarter. Mariner Wealth Advisors LLC purchased a new stake in NetEase during the second quarter worth approximately $203,000. Finally, Hikari Power Ltd purchased a new stake in NetEase during the second quarter worth approximately $210,000. Institutional investors and hedge funds own 50.42% of the company’s stock.

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About NetEase

NetEase, Inc (NetEase) is a technology company. The Company operates an interactive online community in China and is a provider of Chinese language content and services through its online games, Internet media, e-mail, e-commerce and other businesses. The Company operates through three segments: Online Game Services; Advertising Services, and E-mail, E-commerce and Others.

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