Brokerages Anticipate iQIYI, Inc. (NASDAQ:IQ) Will Announce Quarterly Sales of $1.14 Billion

Equities research analysts predict that iQIYI, Inc. (NASDAQ:IQGet Rating) will post sales of $1.14 billion for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for iQIYI’s earnings. iQIYI posted sales of $1.22 billion during the same quarter last year, which would indicate a negative year over year growth rate of 6.6%. The firm is expected to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that iQIYI will report full year sales of $4.82 billion for the current fiscal year, with estimates ranging from $4.76 billion to $4.86 billion. For the next year, analysts forecast that the firm will post sales of $5.24 billion, with estimates ranging from $5.19 billion to $5.28 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for iQIYI.

IQ has been the topic of several recent analyst reports. The Goldman Sachs Group began coverage on shares of iQIYI in a research note on Sunday. They set a “hold” rating and a $6.20 target price on the stock. HSBC cut their price objective on shares of iQIYI from $8.10 to $4.80 in a report on Friday, January 14th. JPMorgan Chase & Co. downgraded shares of iQIYI from an “overweight” rating to an “underweight” rating and cut their price target for the stock from $8.00 to $2.00 in a report on Monday, March 14th. Zacks Investment Research downgraded shares of iQIYI from a “buy” rating to a “hold” rating in a report on Thursday, March 24th. Finally, OTR Global restated a “negative” rating on shares of iQIYI in a report on Monday, January 10th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, iQIYI has a consensus rating of “Hold” and an average target price of $9.51.

NASDAQ:IQ traded up $0.12 during trading hours on Friday, reaching $4.37. The company’s stock had a trading volume of 584,150 shares, compared to its average volume of 20,794,268. The stock has a 50 day moving average price of $4.18 and a two-hundred day moving average price of $5.59. The company has a market capitalization of $3.42 billion, a P/E ratio of -3.65 and a beta of 0.80. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.51 and a current ratio of 0.51. iQIYI has a 12 month low of $1.86 and a 12 month high of $16.83.

A number of hedge funds have recently modified their holdings of the business. E Fund Management Hong Kong Co. Ltd. boosted its position in iQIYI by 168.0% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 187,631 shares of the company’s stock valued at $833,000 after buying an additional 117,612 shares during the period. Norges Bank purchased a new position in iQIYI in the 4th quarter valued at approximately $12,072,000. Toroso Investments LLC purchased a new stake in shares of iQIYI during the 4th quarter worth $249,000. Parametric Portfolio Associates LLC lifted its position in shares of iQIYI by 59.6% during the 4th quarter. Parametric Portfolio Associates LLC now owns 301,239 shares of the company’s stock worth $1,374,000 after purchasing an additional 112,548 shares during the last quarter. Finally, Penserra Capital Management LLC raised its stake in iQIYI by 18.0% during the 4th quarter. Penserra Capital Management LLC now owns 893,208 shares of the company’s stock worth $4,072,000 after acquiring an additional 135,966 shares in the last quarter. 30.63% of the stock is owned by institutional investors.

iQIYI Company Profile (Get Rating)

iQIYI, Inc engages in the provision of internet video streaming services. It operates a smart television streaming service and an entertainment-based social media platform, iQIYI Paopao. The firm also also distribute video content through third-party platforms. The company was founded by Yu Gong in November 2009 and is headquartered in Haidan District, China.

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Earnings History and Estimates for iQIYI (NASDAQ:IQ)

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