iQIYI (NASDAQ:IQ) Releases Earnings Results, Beats Expectations By $0.34 EPS

iQIYI (NASDAQ:IQ – Get Rating) released its earnings results on Thursday. The company reported $0.21 EPS for the quarter, beating 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 in the previous year, the firm earned ($0.25) EPS.

NASDAQ IQ opened at $3.91 on Friday. iQIYI has a fifty-two week low of $1.86 and a fifty-two week high of $16.13. The company has a market cap of $3.13 billion, a P/E ratio of -3.23 and a beta of 0.90. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.51 and a current ratio of 0.51. The business’s 50 day moving average price is $3.92 and its 200-day moving average price is $4.54.

Several equities analysts recently issued reports on IQ shares. Benchmark upgraded iQIYI from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a research report on Friday. The Goldman Sachs Group began coverage on iQIYI in a research report on Sunday, April 10th. They set a “hold” rating and a $6.20 price objective for the company. Citigroup raised iQIYI from a “neutral” rating to a “buy” rating and increased their target price for the stock from $4.50 to $5.60 in a research note on Thursday. Zacks Investment Research cut shares of iQIYI from a “buy” rating to a “hold” rating in a report on Thursday, March 24th. Finally, JPMorgan Chase & Co. raised iQIYI from an “underweight” rating to an “overweight” rating and increased their price objective for the company from $2.00 to $8.00 in a research report on Monday, May 16th. One 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $7.79.

A number of institutional investors and hedge funds have recently bought and sold shares of IQ. Janus Henderson Group PLC raised its position in iQIYI by 9.2% during the 3rd quarter. Janus Henderson Group PLC now owns 16,893 shares of the company’s stock valued at $136,000 after purchasing an additional 1,429 shares in the last quarter. West Family Investments Inc. bought a new stake in iQIYI during the 1st quarter valued at $85,000. Cambridge Investment Research Advisors Inc. grew its stake in iQIYI by 27.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 31,215 shares of the company’s stock valued at $142,000 after purchasing an additional 6,676 shares during the last quarter. Mackenzie Financial Corp raised its stake in shares of iQIYI by 82.7% during the 4th quarter. Mackenzie Financial Corp now owns 36,134 shares of the company’s stock worth $165,000 after acquiring an additional 16,353 shares in the last quarter. Finally, Wetherby Asset Management Inc. lifted its holdings in shares of iQIYI by 157.4% during 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 last quarter. Institutional investors own 32.74% of the company’s stock.

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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