IQIYI (NASDAQ:IQ) Issues Earnings Results, Beats Estimates By $0.10 EPS

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IQIYI (NASDAQ:IQ) announced its quarterly earnings results on Monday. The company reported ($0.49) EPS for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.10, Morningstar.com reports. IQIYI had a negative return on equity of 52.01% and a negative net margin of 38.72%. The company had revenue of $7.11 billion during the quarter, compared to analyst estimates of $7.05 billion. During the same period in the prior year, the company earned ($0.45) earnings per share. The firm’s revenue was up 15.2% on a year-over-year basis. IQIYI updated its Q3 2019 guidance to EPS.

Shares of IQ stock opened at $17.88 on Wednesday. IQIYI has a 1 year low of $14.35 and a 1 year high of $32.46. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.24 and a quick ratio of 1.24. The stock’s 50 day simple moving average is $18.55 and its two-hundred day simple moving average is $21.18. The company has a market cap of $12.39 billion, a PE ratio of -7.24 and a beta of 2.99.

Hedge funds have recently modified their holdings of the business. Joseph P. Lucia & Associates LLC purchased a new stake in IQIYI during the first quarter valued at approximately $25,000. AdvisorNet Financial Inc purchased a new stake in IQIYI during the second quarter valued at approximately $25,000. Resources Investment Advisors LLC. raised its position in IQIYI by 415.7% during the second quarter. Resources Investment Advisors LLC. now owns 1,805 shares of the company’s stock valued at $37,000 after purchasing an additional 1,455 shares during the period. Intercontinental Wealth Advisors LLC purchased a new stake in shares of IQIYI in the first quarter worth approximately $40,000. Finally, Quadrant Capital Group LLC purchased a new stake in shares of IQIYI in the first quarter worth approximately $59,000. Institutional investors and hedge funds own 20.24% of the company’s stock.

IQ has been the subject of a number of research reports. Jefferies Financial Group initiated coverage on IQIYI in a research note on Monday, August 5th. They set a “buy” rating and a $21.80 price target for the company. Loop Capital initiated coverage on IQIYI in a research note on Monday, June 3rd. They set a “hold” rating and a $20.00 price target for the company. Credit Suisse Group lowered IQIYI from an “outperform” rating to a “neutral” rating in a research note on Tuesday. China Renaissance Securities reissued a “hold” rating on shares of IQIYI in a research note on Tuesday. Finally, KeyCorp initiated coverage on IQIYI in a research note on Monday, July 29th. They set a “sector weight” rating and a $21.00 price target for the company. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $21.40.

About IQIYI

iQIYI, Inc, together with its subsidiaries, provides online entertainment services under the iQIYI brand in China. It operates a platform that provides a collection of Internet video content, including professionally-produced content licensed from professional content providers and self-produced content.

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Earnings History for IQIYI (NASDAQ:IQ)

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