(EJ) E House China Holdings Ltd. – Earnings Estimates Jump

November 23rd, 2009

E House China Holdings Ltd. (EJ) reported better than expected third-quarter results on Nov 17 and offered bullish guidance that has since pushed estimates higher.

Third-Quarter Results

Sales were up 119% from last to $86.2 million. Earnings also came in strong at 43 cents per share, 12 cents ahead of the Zacks Consensus Estimate. The company has beat in each of the last four quarters by an average of 6 cents, or 44%.

E House CEO Xin Zhou said that he is confident the company will maintain its strong growth trajectory as the Chinese economy continues to boom on both organic growth and government monetary and stimulus policy.

Estimates Jump

Analysts agree, with the current-year estimate adding 26 cents in the last week to $1.22. The next-year estimate is pegged at $1.51, a 24% growth projection.

Valuation

With estimates up, valuations look attractive. Shares are trading with a forward P/E of 15X, a discount to the overall market with the nice growth projection in tow.

The Chart

Shares of EJ have posted big gains over the last 8 months, but have recently pulled back a bit to hit a the long-term trend line at $17. Take a look below.

Zacks Investment Research

More on this topic (What's this?)
Bookkeeping: Stopped Out of E-House Holdings (EJ) ... Again (Fund my Mutual Fund, 11/18/09)
Bookkeping: Stopped Out of E-House Holdings (EJ) Short (Fund my Mutual Fund, 11/16/09)
E-House China Not Borrowable (Mercenary Trader, 5/4/10)
2 Small Cap Stocks (EJ, ANCI) For The Coming Rally (Contrarian Profits, 1/8/09)
Read more on E-House China, China Holdings Inc at Wikinvest

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