KE (NYSE:BEKE) Announces Earnings Results

Key Points

• KE exceeded quarterly earnings expectations, reporting EPS of $1.26 versus the $0.31 consensus estimate. Revenue totaled $3.61 billion, slightly above the $3.59 billion forecast.
• Shares opened at $17.02 and were reported down 2.1%; KE has a market capitalization of $19.04 billion and trades at a price-to-earnings ratio of 40.52.
• Analyst sentiment remains positive, with a “Moderate Buy” consensus and an average price target of $23.37. Institutional investors and hedge funds own 39.34% of the company.

KE (NYSE:BEKE - Get Free Report) posted its quarterly earnings data on Friday. The company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.95, FiscalAI reports. The company had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.59 billion. KE had a return on equity of 5.47% and a net margin of 3.77%.

KE Stock Down 2.1%

Shares of NYSE:BEKE opened at $17.02 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.12 and a current ratio of 3.12. The company has a market cap of $19.04 billion, a PE ratio of 40.52 and a beta of -0.29. KE has a 52 week low of $13.81 and a 52 week high of $20.98. The firm has a 50 day simple moving average of $16.14 and a 200 day simple moving average of $16.58.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BEKE shares. Citigroup reissued a "buy" rating on shares of KE in a report on Tuesday, May 19th. Barclays increased their price target on KE from $23.00 to $26.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 20th. Wall Street Zen lowered KE from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. CLSA initiated coverage on KE in a research report on Wednesday. They issued an "outperform" rating and a $23.80 target price on the stock. Finally, The Goldman Sachs Group raised shares of KE from a "neutral" rating to a "buy" rating and set a $21.00 price target for the company in a report on Monday, May 4th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $23.37.

Hedge Funds Weigh In On KE

A number of large investors have recently made changes to their positions in BEKE. Caitong International Asset Management Co. Ltd boosted its holdings in shares of KE by 330.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,280 shares of the company's stock worth $36,000 after purchasing an additional 1,750 shares during the period. Strs Ohio acquired a new stake in KE during the first quarter valued at $44,000. EverSource Wealth Advisors LLC grew its stake in KE by 145.1% in the second quarter. EverSource Wealth Advisors LLC now owns 3,812 shares of the company's stock valued at $68,000 after purchasing an additional 2,257 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of KE by 79.7% during the 3rd quarter. Parallel Advisors LLC now owns 5,180 shares of the company's stock worth $98,000 after purchasing an additional 2,298 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of KE during the 2nd quarter valued at about $116,000. Institutional investors and hedge funds own 39.34% of the company's stock.

KE Company Profile

KE Holdings Inc NYSE: BEKE is a technology-driven real estate services company that operates an integrated online and offline platform for housing transactions and related services in mainland China. The company provides consumer-facing property listing marketplaces alongside a broad network of offline brokerage offices and agents, aiming to facilitate sales, rentals and new-home transactions for individual and institutional clients.

The company’s offerings span property listings for new and resale homes, rental listings, brokerage representation and transaction facilitation.

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