IQIYI (NASDAQ:IQ) Announces Earnings Results
IQIYI (NASDAQ:IQ) released its quarterly earnings results on Monday. The company reported ($0.49) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.59) by $0.10, Morningstar.com reports. The firm had revenue of $7.11 billion during the quarter, compared to analysts’ expectations of $7.05 billion. IQIYI had a negative return on equity of 57.18% and a negative net margin of 38.28%. IQIYI’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.45) EPS. IQIYI updated its Q3 2019 guidance to EPS.
Shares of NASDAQ IQ opened at $18.69 on Thursday. IQIYI has a 1-year low of $14.35 and a 1-year high of $32.46. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.24 and a quick ratio of 1.24. The business’s fifty day moving average price is $18.51 and its two-hundred day moving average price is $21.17. The firm has a market capitalization of $13.11 billion, a PE ratio of -7.57 and a beta of 2.99.
A number of research firms have weighed in on IQ. Zacks Investment Research cut IQIYI from a “hold” rating to a “sell” rating in a report on Wednesday. JPMorgan Chase & Co. began coverage on IQIYI in a report on Friday, August 16th. They issued an “underweight” rating and a $14.00 price target for the company. Credit Suisse Group cut IQIYI from an “outperform” rating to a “neutral” rating in a report on Tuesday. KeyCorp began coverage on IQIYI in a report on Monday, July 29th. They issued a “sector weight” rating and a $21.00 price target for the company. Finally, Jefferies Financial Group assumed coverage on IQIYI in a report on Monday, August 5th. They issued a “buy” rating and a $21.80 price target for the company. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $21.40.
IQIYI Company Profile
iQIYI, Inc, together with its subsidiaries, provides online entertainment services under the iQIYI brand in China. It operates a platform that provides a collection of Internet video content, including professionally-produced content licensed from professional content providers and self-produced content.
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