Oppenheimer Research Analysts Increase Earnings Estimates for IQIYI Inc (NASDAQ:IQ)
IQIYI Inc (NASDAQ:IQ) – Equities research analysts at Oppenheimer increased their Q2 2020 earnings per share (EPS) estimates for shares of IQIYI in a research note issued to investors on Thursday, June 25th. Oppenheimer analyst B. Pei now anticipates that the company will post earnings of ($0.43) per share for the quarter, up from their prior estimate of ($0.45). Oppenheimer has a “Market Perform” rating and a $23.00 price objective on the stock. Oppenheimer also issued estimates for IQIYI’s Q3 2020 earnings at ($0.47) EPS, Q4 2020 earnings at ($0.22) EPS, FY2021 earnings at ($0.72) EPS and FY2022 earnings at $0.01 EPS.
IQIYI (NASDAQ:IQ) last issued its quarterly earnings data on Monday, May 18th. The company reported ($3.92) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.49) by ($3.43). IQIYI had a negative return on equity of 102.31% and a negative net margin of 38.37%. The company had revenue of $7.60 billion during the quarter, compared to analysts’ expectations of $7.27 billion. During the same quarter last year, the business earned ($1.97) earnings per share. The business’s quarterly revenue was up 8.7% on a year-over-year basis.
Shares of IQ opened at $23.26 on Monday. IQIYI has a 1-year low of $14.51 and a 1-year high of $27.50. The firm has a 50-day simple moving average of $18.96 and a two-hundred day simple moving average of $20.49. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market cap of $16.54 billion, a PE ratio of -10.29 and a beta of 1.63.
Several institutional investors have recently added to or reduced their stakes in IQ. Norges Bank bought a new stake in shares of IQIYI in the 4th quarter worth about $54,027,000. Assenagon Asset Management S.A. purchased a new stake in IQIYI in the 1st quarter valued at $34,828,000. Krane Funds Advisors LLC raised its position in IQIYI by 32.9% in the 1st quarter. Krane Funds Advisors LLC now owns 4,175,006 shares of the company’s stock valued at $74,315,000 after purchasing an additional 1,032,625 shares during the last quarter. York Capital Management Global Advisors LLC purchased a new stake in IQIYI in the 4th quarter valued at $19,631,000. Finally, Credit Suisse AG raised its position in IQIYI by 16.4% in the 4th quarter. Credit Suisse AG now owns 6,440,669 shares of the company’s stock valued at $135,963,000 after purchasing an additional 909,242 shares during the last quarter. 25.91% of the stock is currently owned by hedge funds and other institutional investors.
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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