KE (NYSE:BEKE) Shares Gap Up After Better-Than-Expected Earnings

KE Holdings Inc. Sponsored ADR (NYSE:BEKE) shares gapped up before the market opened on Friday following a better than expected earnings announcement. The stock had previously closed at $16.99, but opened at $17.94. KE shares last traded at $17.11, with a volume of 1,190,252 shares.

The company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.95. The business had revenue of $3.61 billion during 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%.

Wall Street Analyst Weigh In

Several research firms have issued reports on BEKE. CLSA assumed coverage on KE in a research report on Wednesday. They issued an “outperform” rating and a $23.80 price objective for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of KE in a research note on Wednesday, June 24th. Wall Street Zen cut shares of KE from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Barclays increased their price target on shares of KE from $23.00 to $26.00 and gave the company an “overweight” rating in a report on Wednesday, May 20th. Finally, The Goldman Sachs Group upgraded shares of KE from a “neutral” rating to a “buy” rating and set a $21.00 price objective for the company in a research note on Monday, May 4th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, KE currently has an average rating of “Moderate Buy” and an average target price of $23.37.

Hedge Funds Weigh In On KE

Several hedge funds have recently bought and sold shares of the company. Bayforest Capital Ltd acquired a new position in KE during the fourth quarter worth $28,000. Caitong International Asset Management Co. Ltd grew its holdings in KE by 330.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,280 shares of the company’s stock valued at $36,000 after purchasing an additional 1,750 shares during the last quarter. Strs Ohio acquired a new stake in KE in the first quarter valued at $44,000. Allworth Financial LP increased its position in shares of KE by 254.4% in the fourth quarter. Allworth Financial LP now owns 2,910 shares of the company’s stock valued at $46,000 after buying an additional 2,089 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of KE by 145.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,812 shares of the company’s stock worth $68,000 after buying an additional 2,257 shares during the last quarter. 39.34% of the stock is owned by hedge funds and other institutional investors.

KE Stock Up 0.4%

The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 0.01. The firm has a 50 day moving average price of $16.14 and a 200-day moving average price of $16.58. The firm has a market cap of $19.08 billion, a price-to-earnings ratio of 40.60 and a beta of -0.29.

About KE

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.