KE (NYSE:BEKE) Releases Quarterly Earnings Results, Beats Expectations By $0.95 EPS

KE (NYSE:BEKE) 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. KE had a net margin of 3.77% and a return on equity of 5.47%. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.59 billion.

KE Trading Down 2.1%

BEKE opened at $17.02 on Friday. KE has a 1-year low of $13.81 and a 1-year high of $20.98. The firm has a 50-day moving average price of $16.14 and a two-hundred day moving average price of $16.58. The stock has a market capitalization of $19.04 billion, a PE ratio of 40.52 and a beta of -0.29. The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 0.01.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. UBS Group upgraded shares of KE from a “neutral” rating to a “buy” rating and set a $23.00 price target on the stock in a research report on Tuesday, May 12th. Citigroup reiterated a “buy” rating on shares of KE in a research note on Tuesday, May 19th. Barclays lifted their target price on KE from $23.00 to $26.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 20th. CLSA assumed coverage on KE in a report on Wednesday. They issued an “outperform” rating and a $23.80 price target for the company. Finally, Wall Street Zen downgraded KE from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $23.37.

Institutional Trading of KE

Several institutional investors and hedge funds have recently made changes to their positions in BEKE. Caitong International Asset Management Co. Ltd boosted its holdings in 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 buying an additional 1,750 shares during the last quarter. Strs Ohio bought a new stake in shares of KE in the 1st quarter valued at about $44,000. EverSource Wealth Advisors LLC increased its stake in shares of KE by 145.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,812 shares of the company’s stock valued at $68,000 after acquiring an additional 2,257 shares during the last quarter. Parallel Advisors LLC raised its position in shares of KE by 79.7% in the 3rd quarter. Parallel Advisors LLC now owns 5,180 shares of the company’s stock valued at $98,000 after acquiring an additional 2,298 shares during the period. Finally, Quantbot Technologies LP bought a new position in KE during the 2nd quarter worth approximately $116,000. Institutional investors own 39.34% of the company’s stock.

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.