Wall Street analysts expect iQIYI, Inc. (NASDAQ:IQ – Get Rating) to announce sales of $1.13 billion for the current quarter, Zacks reports. Three analysts have provided estimates for iQIYI’s earnings. The highest sales estimate is $1.14 billion and the lowest is $1.11 billion. iQIYI posted sales of $1.22 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 7.4%. The firm is expected to report its next earnings report before the market opens on Monday, January 1st.
On average, analysts expect that iQIYI will report full-year sales of $4.81 billion for the current fiscal year, with estimates ranging from $4.73 billion to $4.86 billion. For the next fiscal year, analysts anticipate that the business will post sales of $5.22 billion, with estimates ranging from $5.15 billion to $5.27 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow iQIYI.
iQIYI (NASDAQ:IQ – Get Rating) last announced its earnings results on Tuesday, March 1st. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.06. iQIYI had a negative return on equity of 77.71% and a negative net margin of 20.28%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.16 billion.
A number of research analysts have recently issued reports on IQ shares. JPMorgan Chase & Co. upgraded iQIYI from an “underweight” rating to an “overweight” rating and increased their target price for the company from $2.00 to $8.00 in a research report on Monday, May 16th. The Goldman Sachs Group started coverage on iQIYI in a research note on Sunday, April 10th. They issued a “hold” rating and a $6.20 price objective for the company. Finally, Zacks Investment Research downgraded iQIYI from a “buy” rating to a “hold” rating in a research note on Thursday, March 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $8.36.
Shares of NASDAQ:IQ opened at $4.11 on Friday. iQIYI has a 1 year low of $1.86 and a 1 year high of $16.13. The firm has a market capitalization of $3.29 billion, a price-to-earnings ratio of -3.40 and a beta of 0.90. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.51 and a quick ratio of 0.51. The business’s 50 day moving average price is $3.85 and its 200-day moving average price is $4.67.
Institutional investors and hedge funds have recently modified their holdings of the business. Moors & Cabot Inc. acquired a new stake in shares of iQIYI in the 3rd quarter worth $268,000. Parallel Advisors LLC increased its stake in shares of iQIYI by 101.8% in the 4th quarter. Parallel Advisors LLC now owns 8,311 shares of the company’s stock worth $38,000 after acquiring an additional 4,192 shares during the last quarter. FNY Investment Advisers LLC increased its stake in shares of iQIYI by 915.0% in the 1st quarter. FNY Investment Advisers LLC now owns 10,150 shares of the company’s stock worth $46,000 after acquiring an additional 9,150 shares during the last quarter. Quadrant Capital Group LLC increased its stake in shares of iQIYI by 185.9% in the 4th quarter. Quadrant Capital Group LLC now owns 12,887 shares of the company’s stock worth $59,000 after acquiring an additional 8,379 shares during the last quarter. Finally, Ground Swell Capital LLC purchased a new position in shares of iQIYI during the 4th quarter worth $73,000. 32.74% of the stock is owned by institutional investors and hedge funds.
About iQIYI (Get Rating)
iQIYI, Inc, together with its subsidiaries, provides online entertainment services under the iQIYI brand in the People’s Republic of China. The company offers various products and services comprising internet video, online games, live broadcasting, online literature, animations, e-commerce, and social media platform.
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