Analysts expect JD.com to report second-quarter revenue of $38.41 billion. That would be up 1.6% sequentially but down 2.3% year over year. Adjusted EPS are expected to come in at $0.41, up 118.9% sequentially and down 8.9% year over year. For the full 2022 fiscal year, EPS are forecast at $1.81, up 112.4%, on sales of $157.75 billion, up 5.4% year over year.
JD.com stock trades at 30.4 times expected 2022 EPS, 20.8 times estimated 2023 earnings of $2.65 and 15.5 times estimated 2024 earnings of $3.57 per share. The stock’s 52-week range is $41.56 to $92.69, and the company does not pay a dividend. Total shareholder return over the past year is negative 13.7%.
KE Holdings
KE Holdings Inc. (NYSE: BEKE) is a Beijing-based online real estate brokerage. The share price is down about 20% over the past 12 months, but that represents a big improvement from its 50% decline just three months ago.
China’s real estate market is sinking, and there is little sign yet that the government is planning to go big to stop the slide. Even sound, well-managed property developers are currently paying double-digit premiums on bonds maturing next year. The government’s continuing lockdowns have knocked residential property sales down by a third compared to last year and have contributed to the lack of new development.
KE’s stock has been rising because investors believe the government will not just sit on its hands as the Chinese economy withers. Is that bet going to pay off, and if so, soon?
Of seven analysts covering the stock, five have a Buy or Strong Buy rating and the others have Hold ratings. At a share price of around $16.00, the stock’s implied upside based on a median price target of $19.28 is about 20.5%. At the high price target of $23.61, the upside potential is 47.6%.
Analysts expect the company to report second-quarter 2022 revenue of $1.59 billion, down 19.8% sequentially and down from $24.17 billion in the year-ago quarter. The expected adjusted loss per share is $0.21, down from a profit of $0.02 in the prior quarter and a profit of $1.37 in the year-ago quarter. For the full fiscal year, EPS are forecast at $0.04, down 86.2%, on sales of $9.35 billion, down 26.4% year over year.
The stock trades at 383.2 times expected 2022 EPS, 27.9 times estimated 2023 earnings of $0.57 and 24.0 times estimated 2024 earnings of $0.67 per share. The stock’s 52-week range is $7.31 to $25.98, and the company does not pay a dividend. Total shareholder return over the past year is negative 20%.
Macy’s
Shares of Macy’s Inc. (NYSE: M) have risen by more than 14% over the past 12 months. All that gain has been made over the past two weeks as the stock rode the wave generated by Walmart’s solid earnings and outlook. Macy’s also benefits from modest expectations, and the stock probably overreacts to macroeconomic news. But then, so do all retailers’ stocks. Investors are going to be looking for any move in the company’s forecast for the rest of this year.
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