IQIYI Inc Forecasted to Earn FY2021 Earnings of ($0.07) Per Share (IQ)

IQIYI Inc (NASDAQ:IQ) – Investment analysts at Jefferies Financial Group issued their FY2021 earnings per share estimates for IQIYI in a research report issued to clients and investors on Wednesday, March 27th, according to Zacks Investment Research. Jefferies Financial Group analyst K. Chan forecasts that the company will post earnings of ($0.07) per share for the year.

A number of other equities analysts have also recently issued reports on the company. Zacks Investment Research cut IQIYI from a “hold” rating to a “sell” rating in a report on Thursday, January 24th. HSBC cut their price objective on IQIYI from $25.00 to $24.00 and set a “hold” rating for the company in a report on Tuesday, April 2nd. Tigress Financial began coverage on IQIYI in a report on Friday, March 15th. They issued a “buy” rating for the company. New Street Research upgraded IQIYI from a “neutral” rating to a “buy” rating in a report on Friday, February 22nd. Finally, ValuEngine cut IQIYI from a “buy” rating to a “hold” rating in a report on Monday, February 4th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $29.29.

NASDAQ IQ traded up $0.30 during trading on Thursday, reaching $23.20. The company’s stock had a trading volume of 5,117,686 shares, compared to its average volume of 9,794,917. The firm has a market capitalization of $16.79 billion and a P/E ratio of -9.39. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.30. IQIYI has a one year low of $14.35 and a one year high of $46.23.

IQIYI (NASDAQ:IQ) last released its quarterly earnings data on Thursday, February 21st. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.69) by $1.38. IQIYI had a negative return on equity of 74.57% and a negative net margin of 36.00%. The company had revenue of $7 billion for the quarter, compared to analyst estimates of $6.66 billion. IQIYI’s revenue was up 45.3% on a year-over-year basis.

A number of hedge funds have recently modified their holdings of IQ. Hillhouse Capital Management Ltd. boosted its holdings in IQIYI by 1,633.8% during the 4th quarter. Hillhouse Capital Management Ltd. now owns 34,313,024 shares of the company’s stock valued at $510,235,000 after acquiring an additional 32,333,917 shares during the period. Morgan Stanley raised its position in IQIYI by 780.6% during the 3rd quarter. Morgan Stanley now owns 4,272,978 shares of the company’s stock valued at $115,670,000 after purchasing an additional 3,787,741 shares during the last quarter. Vanguard Group Inc raised its position in IQIYI by 226.6% during the 3rd quarter. Vanguard Group Inc now owns 4,035,708 shares of the company’s stock valued at $109,247,000 after purchasing an additional 2,800,016 shares during the last quarter. Vanguard Group Inc. raised its position in IQIYI by 226.6% during the 3rd quarter. Vanguard Group Inc. now owns 4,035,708 shares of the company’s stock valued at $109,247,000 after purchasing an additional 2,800,016 shares during the last quarter. Finally, Krane Funds Advisors LLC bought a new position in IQIYI during the 3rd quarter valued at approximately $71,565,000. Institutional investors own 16.22% 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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