KE (NYSE:BEKE) Coverage Initiated at Citigroup

Citigroup assumed coverage on shares of KE (NYSE:BEKE) in a research note published on Tuesday morning, Marketbeat reports. The firm issued a buy rating and a $23.80 target price on the stock.

Separately, Barclays raised their target price on shares of KE from $28.00 to $30.00 and gave the stock an overweight rating in a report on Wednesday, May 29th.

KE Stock Down 3.7 %

Shares of NYSE BEKE opened at $13.59 on Tuesday. The company has a market cap of $16.76 billion, a price-to-earnings ratio of 33.15, a PEG ratio of 3.24 and a beta of -0.74. The firm’s fifty day moving average is $14.43 and its 200 day moving average is $14.88. KE has a 52 week low of $12.44 and a 52 week high of $20.48.

KE (NYSE:BEKE) last issued its quarterly earnings results on Monday, August 12th. The company reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $2.06. KE had a net margin of 5.32% and a return on equity of 6.74%. The company had revenue of $23.37 billion during the quarter, compared to analysts’ expectations of $21.51 billion. During the same period last year, the company posted $0.17 EPS. KE’s revenue was up 19.9% on a year-over-year basis. Equities research analysts anticipate that KE will post 0.68 earnings per share for the current year.

Institutional Investors Weigh In On KE

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BEKE. Truist Financial Corp lifted its holdings in shares of KE by 17.6% in the fourth quarter. Truist Financial Corp now owns 22,391 shares of the company’s stock worth $363,000 after buying an additional 3,347 shares in the last quarter. M&T Bank Corp bought a new stake in shares of KE during the fourth quarter valued at approximately $549,000. QRG Capital Management Inc. purchased a new stake in shares of KE in the fourth quarter valued at approximately $194,000. Massachusetts Financial Services Co. MA grew its stake in KE by 187.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 415,604 shares of the company’s stock worth $6,737,000 after purchasing an additional 271,044 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in KE by 6.6% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 355,983 shares of the company’s stock worth $5,657,000 after acquiring an additional 21,900 shares in the last quarter. Institutional investors own 39.34% 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. It operates through four segments: Existing Home Transaction Services, New Home Transaction Services, Home Renovation and Furnishing, and Emerging and Other Services.