IQIYI (NASDAQ:IQ) Posts Quarterly Earnings Results, Beats Expectations By $0.10 EPS

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IQIYI (NASDAQ:IQ) issued its quarterly earnings results on Monday. The company reported ($0.49) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.59) by $0.10, Morningstar.com reports. The business had revenue of $7.11 billion for the quarter, compared to analysts’ expectations of $7.05 billion. IQIYI had a negative net margin of 38.28% and a negative return on equity of 57.18%. The business’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.45) earnings per share. IQIYI updated its Q3 2019 guidance to EPS.

Shares of IQ opened at $18.69 on Thursday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.73. The firm has a market cap of $13.11 billion, a PE ratio of -7.57 and a beta of 2.99. The company’s 50 day simple moving average is $18.51 and its 200-day simple moving average is $21.17. IQIYI has a 12-month low of $14.35 and a 12-month high of $32.46.

Several brokerages have recently issued reports on IQ. Loop Capital began coverage on shares of IQIYI in a research report on Monday, June 3rd. They set a “hold” rating and a $20.00 price target on the stock. KeyCorp assumed coverage on shares of IQIYI in a report on Monday, July 29th. They issued a “sector weight” rating and a $21.00 target price on the stock. China Renaissance Securities reaffirmed a “hold” rating on shares of IQIYI in a report on Tuesday. JPMorgan Chase & Co. assumed coverage on shares of IQIYI in a report on Friday, August 16th. They issued an “underweight” rating and a $14.00 target price on the stock. Finally, Jefferies Financial Group assumed coverage on shares of IQIYI in a report on Monday, August 5th. They issued a “buy” rating and a $21.80 target price 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 company. The stock has an average rating of “Hold” and an average price target of $21.40.

A number of large investors have recently bought and sold shares of IQ. WT Asset Management Ltd purchased a new position in IQIYI in the 1st quarter valued at $53,067,000. Bank of America Corp DE grew its position in IQIYI by 852.6% in the 2nd quarter. Bank of America Corp DE now owns 8,193,215 shares of the company’s stock valued at $169,191,000 after buying an additional 7,333,157 shares during the last quarter. Morgan Stanley grew its position in IQIYI by 77.6% in the 2nd quarter. Morgan Stanley now owns 13,583,901 shares of the company’s stock valued at $280,508,000 after buying an additional 5,934,451 shares during the last quarter. Matthews International Capital Management LLC grew its position in IQIYI by 119.6% in the 2nd quarter. Matthews International Capital Management LLC now owns 4,800,700 shares of the company’s stock valued at $99,134,000 after buying an additional 2,615,000 shares during the last quarter. Finally, BlackRock Inc. grew its position in IQIYI by 34.5% in the 2nd quarter. BlackRock Inc. now owns 8,151,127 shares of the company’s stock valued at $168,321,000 after buying an additional 2,091,228 shares during the last quarter. Hedge funds and other institutional investors own 20.24% of the company’s stock.

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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