IQIYI (NASDAQ:IQ) Stock Rating Lowered by Zacks Investment Research

IQIYI (NASDAQ:IQ) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday, Zacks.com reports.

According to Zacks, “Iqiyi Inc. provides online entertainment service. The Company offer movies, television dramas, variety shows and other video contents. Iqiyi Inc is based in Haidian, China. “

Other equities research analysts have also recently issued research reports about the company. China Renaissance Securities restated a “hold” rating on shares of IQIYI in a report on Tuesday. JPMorgan Chase & Co. initiated coverage on IQIYI in a report on Friday, August 16th. They set an “underweight” rating and a $14.00 price objective on the stock. Credit Suisse Group cut IQIYI from an “outperform” rating to a “neutral” rating in a report on Tuesday. Jefferies Financial Group initiated coverage on IQIYI in a report on Monday, August 5th. They set a “buy” rating and a $21.80 price objective on the stock. Finally, KeyCorp initiated coverage on IQIYI in a report on Monday, July 29th. They set a “sector weight” rating and a $21.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. IQIYI presently has a consensus rating of “Hold” and an average target price of $21.40.

IQ stock opened at $18.18 on Wednesday. IQIYI has a 52-week low of $14.35 and a 52-week high of $32.46. The stock’s fifty day simple moving average is $18.46 and its 200-day simple moving average is $21.16. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $13.11 billion, a price-to-earnings ratio of -7.36 and a beta of 2.99.

IQIYI (NASDAQ:IQ) last posted its quarterly earnings data on Monday, August 19th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.59) by $0.10. IQIYI had a negative return on equity of 57.18% and a negative net margin of 38.28%. The business had revenue of $7.11 billion for the quarter, compared to analysts’ expectations of $7.05 billion. During the same quarter last year, the firm earned ($0.45) earnings per share. The business’s revenue was up 15.2% on a year-over-year basis. As a group, analysts anticipate that IQIYI will post -1.8 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of IQ. Joseph P. Lucia & Associates LLC acquired a new position in IQIYI in the first quarter valued at $25,000. AdvisorNet Financial Inc acquired a new position in IQIYI in the second quarter valued at $25,000. Resources Investment Advisors LLC. boosted its holdings in IQIYI by 415.7% in the second quarter. Resources Investment Advisors LLC. now owns 1,805 shares of the company’s stock valued at $37,000 after acquiring an additional 1,455 shares during the last quarter. Intercontinental Wealth Advisors LLC acquired a new position in IQIYI in the first quarter valued at $40,000. Finally, Quadrant Capital Group LLC acquired a new position in IQIYI in the first quarter valued at $59,000. Hedge funds and other institutional investors own 20.24% of the company’s stock.

About IQIYI

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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