Zacks Investment Research downgraded shares of IQIYI (NASDAQ:IQ) from a buy rating to a hold rating in a research report report published on Wednesday morning, Zacks.com reports.

According to Zacks, “Iqiyi Inc. provides online entertainment service. The Company offer movies, television dramas, variety shows and other video contents. Iqiyi Inc is based in Haidian, China. “

A number of other analysts have also recently weighed in on the stock. Loop Capital initiated coverage on shares of TENCENT HOLDING/ADR in a research note on Monday, June 3rd. They issued a buy rating on the stock. HSBC cut shares of easyJet to a hold rating in a research note on Tuesday, April 2nd. Finally, Tigress Financial initiated coverage on shares of YY in a research note on Friday, March 15th. They issued a buy rating on the stock. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. IQIYI has a consensus rating of Buy and a consensus target price of $27.14.

IQIYI stock opened at $19.65 on Wednesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.24 and a quick ratio of 1.24. IQIYI has a fifty-two week low of $14.35 and a fifty-two week high of $38.11. The stock’s fifty day moving average price is $18.90.

IQIYI (NASDAQ:IQ) last posted its quarterly earnings data on Thursday, May 16th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.52) by $0.17. IQIYI had a negative net margin of 38.72% and a negative return on equity of 52.01%. The company had revenue of $6.99 billion for the quarter, compared to the consensus estimate of $6.89 billion. During the same quarter in the previous year, the firm posted ($0.31) EPS. The business’s revenue was up 43.0% compared to the same quarter last year. Equities analysts forecast that IQIYI will post -1.38 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in IQ. Hillhouse Capital Management Ltd. boosted its position in IQIYI by 1,633.8% in the fourth quarter. Hillhouse Capital Management Ltd. now owns 34,313,024 shares of the company’s stock valued at $510,235,000 after buying an additional 32,333,917 shares in the last quarter. WT Asset Management Ltd acquired a new position in IQIYI in the first quarter valued at about $53,067,000. Bank of America Corp DE boosted its position in IQIYI by 240.9% in the fourth quarter. Bank of America Corp DE now owns 2,444,498 shares of the company’s stock valued at $36,350,000 after buying an additional 1,727,430 shares in the last quarter. Ardevora Asset Management LLP acquired a new position in IQIYI in the first quarter valued at about $36,813,000. Finally, Norges Bank acquired a new position in IQIYI in the fourth quarter valued at about $21,687,000. Hedge funds and other institutional investors own 19.44% 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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Analyst Recommendations for IQIYI (NASDAQ:IQ)

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