IQIYI (IQ) Posts Earnings Results, Beats Expectations By $0.17 EPS

IQIYI (NASDAQ:IQ) issued its quarterly earnings results on Thursday. The company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.17, Morningstar.com reports. IQIYI had a negative net margin of 36.00% and a negative return on equity of 74.57%. The business had revenue of $6.99 billion for the quarter, compared to analyst estimates of $6.89 billion. During the same period in the previous year, the business posted ($0.31) earnings per share. The business’s revenue was up 43.0% compared to the same quarter last year. IQIYI updated its Q2 2019 guidance to EPS.

Shares of IQ opened at $19.44 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.30. IQIYI has a twelve month low of $14.35 and a twelve month high of $46.23. The stock has a market cap of $14.67 billion, a price-to-earnings ratio of -7.87 and a beta of 3.24.

A number of research analysts have recently issued reports on IQ shares. New Street Research upgraded shares of IQIYI from a “neutral” rating to a “buy” rating in a research note on Friday, February 22nd. ValuEngine upgraded shares of IQIYI from a “hold” rating to a “buy” rating in a research note on Friday, March 1st. Zacks Investment Research lowered shares of IQIYI from a “hold” rating to a “sell” rating in a research note on Thursday, January 24th. Tigress Financial started coverage on shares of IQIYI in a research note on Friday, March 15th. They set a “buy” rating on the stock. Finally, China Renaissance Securities set a $28.00 price target on shares of IQIYI and gave the stock a “buy” rating in a research note on Thursday, January 17th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. IQIYI presently has an average rating of “Buy” and an average target price of $29.33.

A number of institutional investors and hedge funds have recently modified their holdings of IQ. Hillhouse Capital Management Ltd. grew its position in IQIYI by 1,633.8% during the fourth quarter. Hillhouse Capital Management Ltd. now owns 34,313,024 shares of the company’s stock worth $510,235,000 after buying an additional 32,333,917 shares during the period. BlackRock Inc. grew its position in shares of IQIYI by 2,552.1% in the first quarter. BlackRock Inc. now owns 6,059,899 shares of the company’s stock valued at $144,952,000 after purchasing an additional 5,831,403 shares during the last quarter. Morgan Stanley grew its position in shares of IQIYI by 780.6% in the third quarter. Morgan Stanley now owns 4,272,978 shares of the company’s stock valued at $115,670,000 after purchasing an additional 3,787,741 shares during the last quarter. Vanguard Group Inc. grew its position in shares of IQIYI by 226.6% in the third quarter. Vanguard Group Inc. now owns 4,035,708 shares of the company’s stock valued at $109,247,000 after purchasing an additional 2,800,016 shares during the last quarter. Finally, Matthews International Capital Management LLC acquired a new stake in shares of IQIYI in the fourth quarter valued at approximately $32,730,000. Institutional investors own 16.46% of the company’s stock.

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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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Earnings History for IQIYI (NASDAQ:IQ)

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