iQIYI (NASDAQ:IQ) Announces Earnings Results

iQIYI (NASDAQ:IQ – Get Rating) posted its quarterly earnings data on Thursday. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.34, MarketWatch Earnings reports. iQIYI had a negative return on equity of 77.71% and a negative net margin of 20.28%. During the same period last year, the company earned ($0.25) EPS.

Shares of NASDAQ IQ opened at $3.91 on Friday. iQIYI has a 12-month low of $1.86 and a 12-month high of $16.13. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 2.40. The stock has a market cap of $3.13 billion, a P/E ratio of -3.23 and a beta of 0.90. The business’s fifty day simple moving average is $3.92 and its 200-day simple moving average is $4.54.

Several brokerages have recently issued reports on IQ. Benchmark raised iQIYI from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a research note on Friday. Citigroup raised iQIYI from a “neutral” rating to a “buy” rating and raised their price objective for the company from $4.50 to $5.60 in a research report on Thursday. The Goldman Sachs Group initiated coverage on iQIYI in a research note on Sunday, April 10th. They set a “hold” rating and a $6.20 price objective on the stock. JPMorgan Chase & Co. upgraded iQIYI from an “underweight” rating to an “overweight” rating and boosted their price objective for the stock from $2.00 to $8.00 in a research report on Monday, May 16th. Finally, Zacks Investment Research downgraded iQIYI from a “buy” rating to a “hold” rating in a research note on Thursday, March 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $7.79.

Hedge funds have recently modified their holdings of the business. Parametric Portfolio Associates LLC raised 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. Point72 Hong Kong Ltd bought a new position in iQIYI in the 1st quarter worth about $929,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of iQIYI by 168.0% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 187,631 shares of the company’s stock valued at $833,000 after acquiring an additional 117,612 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of iQIYI by 18.6% in the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 141,000 shares of the company’s stock valued at $640,000 after acquiring an additional 22,100 shares in the last quarter. Finally, Panagora Asset Management Inc. lifted its position in iQIYI by 9.7% in the 1st quarter. Panagora Asset Management Inc. now owns 79,898 shares of the company’s stock worth $363,000 after buying an additional 7,049 shares in the last quarter. 32.74% of the stock is currently owned by institutional investors.

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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