iQIYI (NASDAQ:IQ) Announces Quarterly Earnings Results

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

iQIYI Price Performance

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

Wall Street Analyst Weigh In

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

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.