iQIYI (NASDAQ:IQ) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Key Points

• iQIYI reported earnings per share of ($0.01), surpassing the estimated ($0.02) by $0.01, indicating a slight positive performance.
• The company's return on equity was reported at 3.62% with a net margin of 1.02%, reflecting its operational efficiency.
• iQIYI's stock rating has shifted, as Wall Street Zen downgraded it from "hold" to "sell", creating caution among investors.

iQIYI (NASDAQ:IQ - Get Free Report) announced its earnings results on Wednesday. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.01, Zacks reports. The firm had revenue of $924.97 million for the quarter, compared to the consensus estimate of $6.68 billion. iQIYI had a return on equity of 2.26% and a net margin of 0.32%.

iQIYI Stock Performance

Shares of IQ stock traded down $0.0250 on Monday, hitting $2.4350. The company had a trading volume of 18,971,400 shares, compared to its average volume of 28,559,822. The firm has a market cap of $2.34 billion, a P/E ratio of 244.24 and a beta of -0.14. The company has a 50-day moving average price of $1.89 and a 200-day moving average price of $1.96. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.67. iQIYI has a twelve month low of $1.50 and a twelve month high of $3.35.

Hedge Funds Weigh In On iQIYI

An institutional investor recently raised its position in iQIYI stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in iQIYI, Inc. Sponsored ADR (NASDAQ:IQ - Free Report) by 393.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,152,263 shares of the company's stock after buying an additional 1,716,011 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.22% of iQIYI worth $4,864,000 as of its most recent SEC filing. Institutional investors and hedge funds own 52.69% of the company's stock.

Analysts Set New Price Targets

IQ has been the subject of a number of research analyst reports. CLSA upgraded iQIYI from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, August 19th. UBS Group upgraded iQIYI from a "neutral" rating to a "buy" rating and set a $3.32 target price for the company in a research note on Thursday. Wall Street Zen lowered iQIYI from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Finally, Jefferies Financial Group raised their target price on iQIYI from $2.10 to $2.50 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $2.56.

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.