IQIYI Inc (NASDAQ:IQ) Expected to Announce Quarterly Sales of $1.00 Billion

Analysts expect that IQIYI Inc (NASDAQ:IQ) will report sales of $1.00 billion for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for IQIYI’s earnings. The highest sales estimate is $1.01 billion and the lowest is $994.89 million. IQIYI posted sales of $1.02 billion during the same quarter last year, which indicates a negative year over year growth rate of 2%. The company is scheduled to announce its next earnings results after the market closes on Thursday, February 27th.

On average, analysts expect that IQIYI will report full year sales of $4.06 billion for the current year, with estimates ranging from $4.00 billion to $4.11 billion. For the next year, analysts expect that the firm will post sales of $4.74 billion, with estimates ranging from $4.64 billion to $4.87 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for IQIYI.

IQ has been the subject of several research reports. ValuEngine lowered IQIYI from a “hold” rating to a “sell” rating in a research note on Tuesday, February 4th. HSBC upgraded IQIYI from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a research report on Tuesday, January 21st. CLSA upped their price target on IQIYI to in a research report on Thursday, January 30th. BidaskClub upgraded IQIYI from a “hold” rating to a “buy” rating in a research report on Wednesday, February 5th. Finally, UBS Group upgraded IQIYI from a “neutral” rating to a “buy” rating in a research report on Monday, November 11th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $21.48.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IQ. Al Mehwar Commercial Investments LLC acquired a new position in IQIYI in the fourth quarter valued at approximately $82,479,000. Myriad Asset Management Ltd. lifted its holdings in IQIYI by 10,197.9% in the fourth quarter. Myriad Asset Management Ltd. now owns 1,835,800 shares of the company’s stock valued at $38,753,000 after acquiring an additional 1,817,973 shares during the last quarter. TB Alternative Assets Ltd. lifted its holdings in IQIYI by 235.7% in the fourth quarter. TB Alternative Assets Ltd. now owns 1,804,902 shares of the company’s stock valued at $38,101,000 after acquiring an additional 1,267,202 shares during the last quarter. Credit Suisse AG lifted its holdings in IQIYI by 16.4% in the fourth quarter. Credit Suisse AG now owns 6,440,669 shares of the company’s stock valued at $135,963,000 after acquiring an additional 909,242 shares during the last quarter. Finally, Pictet Asset Management Ltd. lifted its holdings in IQIYI by 410.1% in the fourth quarter. Pictet Asset Management Ltd. now owns 925,314 shares of the company’s stock valued at $19,533,000 after acquiring an additional 743,914 shares during the last quarter. Hedge funds and other institutional investors own 24.43% of the company’s stock.

NASDAQ:IQ traded down $0.25 during trading hours on Friday, hitting $26.93. 4,021,278 shares of the stock were exchanged, compared to its average volume of 8,415,835. IQIYI has a 52-week low of $15.12 and a 52-week high of $29.18. The firm’s fifty day moving average price is $23.50 and its 200 day moving average price is $19.47. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.08. The company has a market cap of $19.67 billion, a P/E ratio of -11.92 and a beta of 2.91.

About IQIYI

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 and Estimates for IQIYI (NASDAQ:IQ)

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