iQIYI (NASDAQ:IQ) Announces Earnings Results

iQIYI (NASDAQ:IQ) released its earnings results on Thursday. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.05), Zacks reports. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.02 billion. iQIYI had a return on equity of 17.57% and a net margin of 6.23%. During the same period in the prior year, the firm earned $0.05 EPS.

iQIYI Price Performance

IQ opened at $2.65 on Friday. iQIYI has a one year low of $2.56 and a one year high of $5.80. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.60 and a quick ratio of 0.60. The company’s 50 day simple moving average is $3.51 and its 200-day simple moving average is $4.00. The stock has a market capitalization of $2.54 billion, a P/E ratio of 9.29, a price-to-earnings-growth ratio of 0.42 and a beta of 0.08.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on IQ shares. HSBC lowered shares of iQIYI from a “hold” rating to a “reduce” rating and cut their price objective for the company from $4.70 to $3.00 in a research report on Tuesday, July 23rd. Benchmark lowered shares of iQIYI from a “buy” rating to a “hold” rating in a research report on Friday. Hsbc Global Res lowered shares of iQIYI from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. dropped their price target on shares of iQIYI from $5.00 to $3.00 and set a “neutral” rating for the company in a research report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating and two have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $3.67.

About iQIYI

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.