NetEase, Inc. Announces Quarterly Dividend of $0.44 (NASDAQ:NTES)

NetEase, Inc. (NASDAQ:NTES) declared a quarterly dividend on Thursday, November 14th,Wall Street Journal reports. Investors of record on Friday, November 29th will be paid a dividend of 0.435 per share by the technology company on Friday, December 13th. This represents a $1.74 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Friday, November 29th.

NetEase has raised its dividend by an average of 23.7% annually over the last three years. NetEase has a payout ratio of 23.5% indicating that its dividend is sufficiently covered by earnings. Equities 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 NASDAQ NTES opened at $86.21 on Wednesday. The company has a 50-day simple moving average of $85.10 and a 200-day simple moving average of $88.34. The company has a market cap of $55.36 billion, a PE ratio of 14.56, a price-to-earnings-growth ratio of 3.16 and a beta of 0.57. NetEase has a 12 month low of $75.85 and a 12 month high of $115.10.

Analyst Upgrades and Downgrades

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

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.