KE (NYSE:BEKE) Receives New Coverage from Analysts at Citigroup

Citigroup started coverage on shares of KE (NYSE:BEKE) in a report published on Tuesday morning, Marketbeat reports. The brokerage issued a buy rating and a $23.80 price objective on the stock.

Separately, Barclays boosted their price target on KE from $28.00 to $30.00 and gave the company an overweight rating in a research note on Wednesday, May 29th.

KE Stock Down 1.5 %

Shares of NYSE BEKE opened at $13.39 on Tuesday. The firm’s 50-day moving average price is $14.39 and its two-hundred day moving average price is $14.88. KE has a 52-week low of $12.44 and a 52-week high of $20.48. The stock has a market capitalization of $16.51 billion, a P/E ratio of 32.66, a P/E/G ratio of 3.13 and a beta of -0.74.

KE (NYSE:BEKE) last posted its quarterly earnings results on Monday, August 12th. The company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $2.06. The firm had revenue of $23.37 billion for the quarter, compared to analyst estimates of $21.51 billion. KE had a net margin of 5.32% and a return on equity of 6.74%. The firm’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.17 earnings per share. As a group, equities research analysts expect that KE will post 0.68 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BEKE. Truist Financial Corp grew its stake in KE by 17.6% in the fourth quarter. Truist Financial Corp now owns 22,391 shares of the company’s stock valued at $363,000 after acquiring an additional 3,347 shares during the period. M&T Bank Corp acquired a new position in shares of KE during the fourth quarter worth about $549,000. QRG Capital Management Inc. acquired a new position in shares of KE during the fourth quarter worth about $194,000. Massachusetts Financial Services Co. MA boosted its position in shares of KE by 187.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 415,604 shares of the company’s stock worth $6,737,000 after buying an additional 271,044 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of KE by 6.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 355,983 shares of the company’s stock worth $5,657,000 after buying an additional 21,900 shares during the period. 39.34% of the stock is owned by institutional investors and hedge funds.

KE Company Profile

KE Holdings Inc, through its subsidiaries, engages in operating an integrated online and offline platform for housing transactions and services in the People's Republic of China. It operates through four segments: Existing Home Transaction Services, New Home Transaction Services, Home Renovation and Furnishing, and Emerging and Other Services.