iQIYI, Inc. (NASDAQ:IQ) Given Consensus Rating of “Reduce” by Brokerages

Shares of iQIYI, Inc. (NASDAQ:IQ) have been assigned an average rating of “Reduce” from the five analysts that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating and four have issued a hold rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $3.45.

A number of research analysts have commented on IQ shares. Hsbc Global Res lowered shares of iQIYI from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, July 23rd. Benchmark lowered shares of iQIYI from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Nomura Securities upgraded shares of iQIYI to a “hold” rating in a research note on Monday, August 26th. The Goldman Sachs Group lowered shares of iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 price objective on the stock. in a research note on Tuesday, August 27th. Finally, HSBC lowered shares of iQIYI from a “hold” rating to a “reduce” rating and dropped their price objective for the company from $4.70 to $3.00 in a research note on Tuesday, July 23rd.

iQIYI Price Performance

Shares of NASDAQ:IQ opened at $1.97 on Thursday. The company’s fifty day moving average price is $2.91 and its 200 day moving average price is $3.84. iQIYI has a 12 month low of $1.92 and a 12 month high of $5.80. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.53 and a quick ratio of 0.53. The firm has a market capitalization of $1.89 billion, a P/E ratio of 7.04, a P/E/G ratio of 0.46 and a beta of 0.05.

iQIYI (NASDAQ:IQ) last posted its quarterly earnings data on Thursday, August 22nd. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.05). The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.02 billion. iQIYI had a net margin of 5.37% and a return on equity of 14.57%. During the same quarter in the prior year, the firm posted $0.05 earnings per share. As a group, sell-side analysts predict that iQIYI will post 0.16 earnings per share for the current fiscal year.

Institutional Trading of iQIYI

Several hedge funds and other institutional investors have recently made changes to their positions in IQ. Norges Bank purchased a new stake in iQIYI during the fourth quarter worth about $49,853,000. Krane Funds Advisors LLC boosted its holdings in iQIYI by 2.5% during the fourth quarter. Krane Funds Advisors LLC now owns 19,194,425 shares of the company’s stock worth $93,669,000 after buying an additional 467,032 shares in the last quarter. Headlands Technologies LLC purchased a new stake in iQIYI during the first quarter worth about $741,000. Jump Financial LLC purchased a new stake in iQIYI during the fourth quarter worth about $114,000. Finally, DNB Asset Management AS boosted its holdings in iQIYI by 45.0% during the second quarter. DNB Asset Management AS now owns 37,616 shares of the company’s stock worth $138,000 after buying an additional 11,679 shares in the last quarter. Hedge funds and other institutional investors own 52.69% of the company’s stock.

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.