iQIYI (NASDAQ:IQ) Announces Earnings Results

Key Points

• iQIYI reported quarterly EPS of negative $0.03, in line with consensus estimates. The company posted a negative 4.72% return on equity and a negative 2.61% net margin.
• Shares opened at $1.33 and were down 1.5%, with a market capitalization of approximately $1.28 billion. The stock has traded between $0.95 and $2.84 over the past year.
• Institutional investors own 52.69% of iQIYI, with several firms substantially increasing their positions. Analysts’ average rating is Hold, with a consensus price target of $2.55.

iQIYI (NASDAQ:IQ - Get Free Report) released its quarterly earnings data on Tuesday. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.03), Zacks reports. iQIYI had a negative return on equity of 4.72% and a negative net margin of 2.61%.

iQIYI Trading Down 1.5%

Shares of NASDAQ:IQ opened at $1.33 on Tuesday. The company has a market capitalization of $1.28 billion, a P/E ratio of -13.30 and a beta of 0.19. iQIYI has a 1 year low of $0.95 and a 1 year high of $2.84. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.45 and a quick ratio of 0.45. The business's 50 day simple moving average is $1.16 and its 200 day simple moving average is $1.32.

Institutional Trading of iQIYI

A number of institutional investors have recently modified their holdings of IQ. Marshall Wace LLP raised its stake in iQIYI by 1,423.3% in the fourth quarter. Marshall Wace LLP now owns 2,811,044 shares of the company's stock valued at $5,397,000 after purchasing an additional 2,626,502 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in iQIYI during the fourth quarter worth about $8,488,000. Parallel Advisors LLC increased its holdings in iQIYI by 20.8% in the 4th quarter. Parallel Advisors LLC now owns 29,472 shares of the company's stock valued at $57,000 after buying an additional 5,077 shares during the period. Public Employees Retirement System of Ohio increased its holdings in iQIYI by 1.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 432,300 shares of the company's stock valued at $1,107,000 after buying an additional 6,900 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of iQIYI by 393.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,152,263 shares of the company's stock valued at $4,864,000 after buying an additional 1,716,011 shares in the last quarter. 52.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on IQ shares. Wall Street Zen lowered shares of iQIYI from a "hold" rating to a "sell" rating in a research report on Sunday, April 26th. Weiss Ratings restated a "sell (d)" rating on shares of iQIYI in a report on Wednesday, June 24th. Zacks Research raised iQIYI from a "strong sell" rating to a "hold" rating in a research report on Monday, July 20th. Finally, Benchmark reiterated a "hold" rating on shares of iQIYI in a research note on Tuesday, May 19th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $2.55.

iQIYI Company Profile

iQIYI, Inc is a leading online entertainment service provider headquartered in Beijing, China, offering a comprehensive portfolio of streaming video content across multiple genres. The company operates a subscription-based video-on-demand (SVOD) platform, complemented by advertising-supported content (AVOD) and pay-per-view offerings. Its digital library encompasses original series, feature films, variety shows, animation and documentaries, catering to diverse demographic segments and viewer preferences.

Originally launched by Baidu in 2010 as an online video site, iQIYI was formally rebranded in early 2012 and has since expanded its footprint beyond China's domestic market.

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