iQIYI (NASDAQ:IQ – Get Rating) is scheduled to be posting its quarterly earnings results before the market opens on Wednesday, February 22nd. Analysts expect iQIYI to post earnings of $0.05 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.
iQIYI (NASDAQ:IQ – Get Rating) last released its quarterly earnings data on Tuesday, November 22nd. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.04). iQIYI had a negative net margin of 7.78% and a negative return on equity of 28.47%. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.10 billion. On average, analysts expect iQIYI to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.
iQIYI Trading Down 3.2 %
Shares of IQ stock opened at $7.28 on Wednesday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.37 and a current ratio of 0.37. iQIYI has a 1 year low of $1.65 and a 1 year high of $7.99. The stock has a fifty day moving average of $5.63 and a two-hundred day moving average of $3.91. The firm has a market capitalization of $6.89 billion, a PE ratio of -17.33 and a beta of 0.56.
Institutional Investors Weigh In On iQIYI
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Envestnet Asset Management Inc. increased its holdings in iQIYI by 79.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 59,542 shares of the company’s stock valued at $270,000 after buying an additional 26,363 shares during the period. Quantbot Technologies LP acquired a new position in iQIYI in the 2nd quarter worth $228,000. Wetherby Asset Management Inc. raised its holdings in shares of iQIYI by 157.4% in the 1st quarter. Wetherby Asset Management Inc. now owns 50,300 shares of the company’s stock valued at $228,000 after purchasing an additional 30,755 shares during the period. Prudential Financial Inc. acquired a new position in iQIYI in the 2nd quarter valued at about $217,000. Finally, ExodusPoint Capital Management LP acquired a new position in iQIYI in the 2nd quarter valued at $183,000. 31.44% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
IQ has been the subject of a number of analyst reports. Nomura reduced their price target on iQIYI from $3.90 to $2.60 in a research report on Thursday, November 24th. HSBC cut their price objective on iQIYI from $4.00 to $2.60 in a report on Wednesday, November 23rd. The Goldman Sachs Group upped their price objective on iQIYI from $4.40 to $4.90 and gave the company a “neutral” rating in a report on Monday, January 9th. JPMorgan Chase & Co. cut their price objective on iQIYI from $7.00 to $6.00 in a report on Wednesday, December 7th. Finally, Morgan Stanley upgraded iQIYI from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $2.80 to $5.10 in a report on Wednesday, January 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, iQIYI presently has a consensus rating of “Hold” and an average price target of $4.31.
iQIYI Company Profile
iQIYI, Inc provides online entertainment services. It attracts a massive user base with tremendous user engagement, and has developed a diversified monetization model including membership services, online advertising services, content distribution, online games, live broadcasting, IP licensing, talent agency and online literature.