2024-03-17 02:27:34 ET
Summary
- KE Holdings' Q4 2023 financial results were better than what the market had anticipated, and BEKE distributed a significant amount of capital to its shareholders in 2023.
- But the analysts are forecasting a substantial YoY decline in BEKE's Q1 2024 revenue, and this seems realistic taking into consideration industry metrics and the management's comments.
- I maintain my Hold rating for KE Holdings, as I think that the company's quarterly results and favorable capital return moves have been overshadowed by its unfavorable near-term prospects.
Elevator Pitch
My investment rating for KE Holdings Inc. ( BEKE ) [2423:HK] shares is a Hold.
With my prior write-up published on November 10, 2023, I reviewed BEKE's financial results for the third quarter of last year. The focus of this update is KE Holdings' recently disclosed Q4 2023 financial numbers and its business outlook....
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For further details see:
KE Holdings: Weak Short-Term Outlook Overshadows Favorable Capital Return Initiatives