Credit Suisse Group lowered shares of IQIYI (NASDAQ:IQ) from an outperform rating to a neutral rating in a research note released on Tuesday morning, The Fly reports.
Other analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of IQIYI from a buy rating to a hold rating in a report on Wednesday, July 31st. China Renaissance Securities restated a hold rating on shares of IQIYI in a report on Tuesday. KeyCorp started coverage on shares of IQIYI in a report on Monday, July 29th. They set a sector weight rating and a $21.00 price target for the company. Jefferies Financial Group started coverage on shares of IQIYI in a report on Monday, August 5th. They set a buy rating and a $21.80 price target for the company. Finally, JPMorgan Chase & Co. started coverage on shares of IQIYI in a report on Friday, August 16th. They set an underweight rating and a $14.00 price target for the company. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of Hold and an average target price of $21.40.
IQ opened at $17.65 on Tuesday. IQIYI has a twelve month low of $14.35 and a twelve month high of $32.46. 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 company has a 50-day moving average price of $18.40 and a 200 day moving average price of $21.15. The company has a market cap of $13.55 billion, a PE ratio of -7.15 and a beta of 2.99.
IQIYI (NASDAQ:IQ) last released its quarterly earnings data on Monday, August 19th. The company reported ($0.49) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.59) by $0.10. The company had revenue of $7.11 billion during the quarter, compared to the consensus estimate of $7.05 billion. IQIYI had a negative net margin of 38.28% and a negative return on equity of 57.18%. IQIYI’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.45) EPS. As a group, sell-side analysts expect that IQIYI will post -1.91 earnings per share for the current year.
A number of hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp bought a new position in shares of IQIYI in the 4th quarter worth approximately $464,000. Northern Trust Corp bought a new position in shares of IQIYI in the 4th quarter worth approximately $158,000. Geode Capital Management LLC raised its position in shares of IQIYI by 35.2% in the 4th quarter. Geode Capital Management LLC now owns 116,168 shares of the company’s stock worth $1,727,000 after acquiring an additional 30,230 shares in the last quarter. Norges Bank bought a new position in shares of IQIYI in the 4th quarter worth approximately $21,687,000. Finally, Gulf International Bank UK Ltd bought a new position in shares of IQIYI in the 1st quarter worth approximately $454,000. 20.24% of the stock is owned by institutional investors.
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.
Further Reading: Oversold
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