KE Holdings Inc. Sponsored ADR BEKE shares rallied 5.4% in the last trading session to close at $20.52. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 17.5% gain over the past four weeks.
BEKE is benefiting from China's real estate market recovery, rising transaction volumes, strategic agent network expansion, technology-driven efficiencies, supportive government policies, and strengthened corporate governance, all contributing to its growth.
This company is expected to post quarterly earnings of $0.31 per share in its upcoming report, which represents a year-over-year change of +55%. Revenues are expected to be $4.01 billion, up 41% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For KE Hodlings, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on BEKE going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
KE Hodlings is a member of the Zacks Internet - Services industry. One other stock in the same industry, iQIYI, Inc. Sponsored ADR IQ, finished the last trading session 10.5% higher at $2.53. IQ has returned 23.8% over the past month.
iQIYI's consensus EPS estimate for the upcoming report has changed +50% over the past month to $0. Compared to the company's year-ago EPS, this represents a change of -100%. iQIYI currently boasts a Zacks Rank of #3 (Hold).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
KE Holdings Inc. Sponsored ADR (BEKE) : Free Stock Analysis Report
iQIYI, Inc. Sponsored ADR (IQ) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.