$1.13 Billion in Sales Expected for iQIYI, Inc. (NASDAQ:IQ) This Quarter

Equities research analysts predict that iQIYI, Inc. (NASDAQ:IQ) will post sales of $1.13 billion for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for iQIYI’s earnings, with estimates ranging from $1.11 billion to $1.15 billion. iQIYI posted sales of $1.08 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 4.6%. The business is expected to issue its next earnings results on Monday, May 17th.

On average, analysts expect that iQIYI will report full year sales of $4.93 billion for the current year, with estimates ranging from $4.59 billion to $5.06 billion. For the next fiscal year, analysts expect that the company will post sales of $5.61 billion, with estimates ranging from $5.05 billion to $6.12 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover iQIYI.

iQIYI (NASDAQ:IQ) last posted its quarterly earnings data on Wednesday, February 17th. The company reported ($2.10) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($1.72). The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.11 billion. iQIYI had a negative return on equity of 111.91% and a negative net margin of 26.76%.

Several analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered iQIYI from a “neutral” rating to an “underweight” rating and set a $18.00 target price on the stock. in a report on Thursday, February 18th. HSBC lowered iQIYI from a “buy” rating to a “hold” rating and set a $21.60 target price on the stock. in a report on Wednesday, January 13th. New Street Research raised iQIYI from a “neutral” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Tuesday, January 5th. UBS Group lowered iQIYI from a “buy” rating to a “neutral” rating in a report on Tuesday, January 19th. Finally, Loop Capital reduced their target price on iQIYI from $25.00 to $18.00 and set a “hold” rating on the stock in a report on Thursday, December 24th. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $21.45.

A number of large investors have recently added to or reduced their stakes in IQ. Mizuho Markets Americas LLC acquired a new stake in shares of iQIYI during the fourth quarter valued at about $70,264,000. Norges Bank acquired a new stake in shares of iQIYI during the fourth quarter valued at about $46,774,000. TORQ CAPITAL MANAGEMENT HK Ltd acquired a new stake in shares of iQIYI during the fourth quarter valued at about $17,480,000. Artal Group S.A. acquired a new stake in shares of iQIYI during the fourth quarter valued at about $14,858,000. Finally, Baillie Gifford & Co. boosted its stake in shares of iQIYI by 58.4% during the fourth quarter. Baillie Gifford & Co. now owns 1,809,256 shares of the company’s stock valued at $31,627,000 after purchasing an additional 667,046 shares in the last quarter. 30.81% of the stock is currently owned by institutional investors and hedge funds.

Shares of IQ traded down $0.30 during trading hours on Monday, hitting $17.30. 220,653 shares of the company were exchanged, compared to its average volume of 17,460,678. The company has a market cap of $13.56 billion, a price-to-earnings ratio of -11.18 and a beta of 1.06. iQIYI has a fifty-two week low of $14.60 and a fifty-two week high of $28.97. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 2.41. The firm’s fifty day moving average is $23.71 and its 200 day moving average is $22.58.

About iQIYI

iQIYI, Inc, together with its subsidiaries, provides online entertainment services under the iQIYI brand in the People's Republic of China. The company offers internet video, online games, live broadcasting, online literature, animations, e-commerce, and social media platform. 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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