iQIYI, Inc. (NASDAQ:IQ) Receives Consensus Rating of “Reduce” from Analysts

iQIYI, Inc. (NASDAQ:IQ) has been given a consensus recommendation of “Reduce” by the five analysts that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $3.45.

IQ has been the topic of several research analyst reports. HSBC lowered shares of iQIYI from a “hold” rating to a “reduce” rating and cut their price target for the stock from $4.70 to $3.00 in a research note on Tuesday, July 23rd. Nomura Securities upgraded shares of iQIYI to a “hold” rating in a research note on Monday, August 26th. Hsbc Global Res downgraded shares of iQIYI from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 23rd. The Goldman Sachs Group downgraded shares of iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 target price on the stock. in a report on Tuesday, August 27th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of iQIYI from $5.00 to $3.00 and set a “neutral” rating on the stock in a report on Tuesday, July 23rd.

iQIYI Stock Up 0.5 %

IQ opened at $2.06 on Thursday. iQIYI has a twelve month low of $1.92 and a twelve month high of $5.80. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.67. The company has a 50-day moving average price of $2.84 and a 200 day moving average price of $3.81. The company has a market cap of $1.98 billion, a PE ratio of 7.36, a price-to-earnings-growth ratio of 0.46 and a beta of 0.05.

iQIYI (NASDAQ:IQ) last announced its quarterly earnings results on Thursday, August 22nd. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.05). The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.02 billion. iQIYI had a return on equity of 14.57% and a net margin of 5.37%. During the same quarter in the prior year, the business earned $0.05 EPS. Sell-side analysts expect that iQIYI will post 0.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On iQIYI

Several large investors have recently made changes to their positions in the business. Krane Funds Advisors LLC raised its position in iQIYI by 2.5% during the fourth quarter. Krane Funds Advisors LLC now owns 19,194,425 shares of the company’s stock valued at $93,669,000 after acquiring an additional 467,032 shares in the last quarter. Vanguard Group Inc. raised its position in shares of iQIYI by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 17,756,701 shares of the company’s stock valued at $86,653,000 after purchasing an additional 170,227 shares during the period. Federated Hermes Inc. raised its position in shares of iQIYI by 18.9% in the second quarter. Federated Hermes Inc. now owns 16,057,035 shares of the company’s stock valued at $58,929,000 after purchasing an additional 2,549,287 shares during the period. Maple Rock Capital Partners Inc. raised its position in shares of iQIYI by 65.4% in the first quarter. Maple Rock Capital Partners Inc. now owns 10,320,000 shares of the company’s stock valued at $43,654,000 after purchasing an additional 4,080,000 shares during the period. Finally, Norges Bank bought a new position in shares of iQIYI in the fourth quarter valued at approximately $49,853,000. Institutional investors own 52.69% of the company’s stock.

iQIYI Company Profile

iQIYI, Inc, together with its subsidiaries, provides online entertainment video services in the People's Republic of China. It offers various products and services, including online video, online games, online literature, animations, and other products. The company operates a platform that provides a collection of internet video content, such as professionally produced content licensed from professional content providers and self-produced content.