NetEase Inc (NTES) Expected to Announce Quarterly Sales of $2.54 Billion

Wall Street analysts forecast that NetEase Inc (NASDAQ:NTES) will announce sales of $2.54 billion for the current quarter, Zacks reports. Three analysts have issued estimates for NetEase’s earnings. The highest sales estimate is $2.69 billion and the lowest is $2.42 billion. NetEase reported sales of $1.88 billion in the same quarter last year, which would suggest a positive year over year growth rate of 35.1%. The business is scheduled to announce its next quarterly earnings report on Wednesday, November 21st.

On average, analysts expect that NetEase will report full-year sales of $10.20 billion for the current fiscal year, with estimates ranging from $9.86 billion to $11.01 billion. For the next year, analysts forecast that the firm will report sales of $12.75 billion, with estimates ranging from $12.18 billion to $13.99 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover NetEase.

NetEase (NASDAQ:NTES) last announced its quarterly earnings results on Wednesday, August 8th. The technology company reported $2.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.82. NetEase had a net margin of 11.49% and a return on equity of 14.57%. The firm had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.61 billion.

A number of analysts recently issued reports on the stock. TheStreet raised shares of NetEase from a “c+” rating to a “b” rating in a report on Friday, August 10th. BidaskClub downgraded shares of NetEase from a “sell” rating to a “strong sell” rating in a report on Friday, September 7th. Zacks Investment Research downgraded shares of NetEase from a “buy” rating to a “hold” rating in a report on Wednesday. Macquarie downgraded shares of NetEase from an “outperform” rating to a “neutral” rating in a report on Thursday, August 9th. Finally, Jefferies Financial Group raised shares of NetEase from a “hold” rating to a “buy” rating in a report on Friday, September 21st. Two research analysts have rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $318.62.

Shares of NASDAQ NTES opened at $211.98 on Friday. NetEase has a 1 year low of $184.60 and a 1 year high of $377.64. The firm has a market cap of $29.98 billion, a P/E ratio of 17.08, a PEG ratio of 1.55 and a beta of 0.79.

Large investors have recently bought and sold shares of the business. Putnam Investments LLC acquired a new position in NetEase during the second quarter worth $19,288,000. Krane Funds Advisors LLC raised its position in NetEase by 64.7% during the second quarter. Krane Funds Advisors LLC now owns 463,651 shares of the technology company’s stock worth $117,151,000 after acquiring an additional 182,082 shares during the period. Crossmark Global Holdings Inc. raised its position in NetEase by 85.3% during the second quarter. Crossmark Global Holdings Inc. now owns 3,239 shares of the technology company’s stock worth $818,000 after acquiring an additional 1,491 shares during the period. Bessemer Group Inc. raised its position in NetEase by 25.5% during the second quarter. Bessemer Group Inc. now owns 5,582 shares of the technology company’s stock worth $1,410,000 after acquiring an additional 1,133 shares during the period. Finally, Elephas Investment Management Ltd acquired a new stake in shares of NetEase in the second quarter valued at about $49,220,000. Institutional investors own 45.78% of the company’s stock.

NetEase Company Profile

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.

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