iQIYI (NASDAQ:IQ) Issues Quarterly Earnings Results

iQIYI (NASDAQ:IQ – Get Rating) posted its earnings results on Thursday. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm earned ($0.25) EPS.

NASDAQ IQ opened at $3.98 on Friday. iQIYI has a fifty-two week low of $1.86 and a fifty-two week high of $16.13. The stock has a market cap of $3.18 billion, a price-to-earnings ratio of -3.29 and a beta of 0.90. The business has a fifty day moving average of $3.93 and a 200-day moving average of $4.51. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 2.40.

Several large investors have recently made changes to their positions in the company. Parametric Portfolio Associates LLC lifted its stake in shares of iQIYI by 59.6% in the fourth quarter. Parametric Portfolio Associates LLC now owns 301,239 shares of the company’s stock worth $1,374,000 after acquiring an additional 112,548 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in iQIYI during the 1st quarter valued at $929,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in iQIYI by 168.0% during 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 purchasing an additional 117,612 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of iQIYI by 18.6% during 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 during the last quarter. Finally, Panagora Asset Management Inc. lifted its position in shares of iQIYI by 9.7% during the 1st quarter. Panagora Asset Management Inc. now owns 79,898 shares of the company’s stock valued at $363,000 after acquiring an additional 7,049 shares during the last quarter. 32.74% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have recently weighed in on IQ shares. The Goldman Sachs Group started coverage on iQIYI in a research note on Sunday, April 10th. They set a “hold” rating and a $6.20 price target on the stock. Benchmark upgraded iQIYI from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a research report on Friday. Citigroup raised iQIYI from a “neutral” rating to a “buy” rating and boosted their price target for the company from $4.50 to $5.60 in a report on Thursday. JPMorgan Chase & Co. raised iQIYI from an “underweight” rating to an “overweight” rating and boosted their price target for the company from $2.00 to $8.00 in a 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 investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $7.79.

iQIYI Company Profile (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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