KE (NYSE:BEKE) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of KE (NYSE:BEKE) from a sell rating to a hold rating in a report issued on Wednesday morning, Zacks.com reports.

According to Zacks, “KE Holdings Inc. is a real estate company. It provides platform for housing transactions and services. KE Holdings Inc. is based in China. “

Other equities analysts also recently issued reports about the stock. The Goldman Sachs Group downgraded shares of KE from a buy rating to a neutral rating and dropped their target price for the company from $35.00 to $19.30 in a report on Monday, August 16th. JPMorgan Chase & Co. downgraded shares of KE from an overweight rating to a neutral rating in a report on Wednesday, August 11th. HSBC downgraded shares of KE from a buy rating to a hold rating and set a $19.90 target price for the company. in a report on Friday, August 13th. Finally, Credit Suisse Group downgraded shares of KE from an outperform rating to a neutral rating and set a $18.00 target price for the company. in a report on Thursday, August 12th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $47.11.

Shares of BEKE opened at $22.09 on Wednesday. The company has a 50-day simple moving average of $18.70 and a 200-day simple moving average of $37.07. The company has a market capitalization of $19.79 billion, a PE ratio of 61.36, a P/E/G ratio of 8.66 and a beta of -1.61. KE has a 52-week low of $15.15 and a 52-week high of $79.40.

KE (NYSE:BEKE) last announced its quarterly earnings results on Wednesday, August 11th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.04). KE had a net margin of 3.82% and a return on equity of 4.92%. The company had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.41 billion. As a group, equities analysts forecast that KE will post 0.19 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of BEKE. Eaton Vance Management acquired a new stake in shares of KE in the first quarter worth approximately $46,000. Profund Advisors LLC boosted its position in shares of KE by 12.1% in the first quarter. Profund Advisors LLC now owns 8,901 shares of the company’s stock worth $507,000 after acquiring an additional 959 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of KE by 4.8% in the first quarter. Russell Investments Group Ltd. now owns 22,225 shares of the company’s stock worth $1,266,000 after acquiring an additional 1,024 shares during the last quarter. APG Asset Management N.V. boosted its position in shares of KE by 4.3% in the first quarter. APG Asset Management N.V. now owns 30,237 shares of the company’s stock worth $1,466,000 after acquiring an additional 1,242 shares during the last quarter. Finally, American International Group Inc. acquired a new stake in shares of KE in the first quarter worth approximately $74,000. Institutional investors and hedge funds own 31.34% of the company’s stock.

About KE

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. The company operates in three segments: Existing Home Transaction Services, New Home Transaction Services, and Emerging and Other Services.

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