IQIYI (NASDAQ:IQ) Stock Rating Reaffirmed by China Renaissance Securities

IQIYI (NASDAQ:IQ)‘s stock had its “hold” rating restated by analysts at China Renaissance Securities in a research note issued to investors on Tuesday, The Fly reports.

Several other analysts have also weighed in on the company. Credit Suisse Group reissued an “outperform” rating on shares of IQIYI in a report on Wednesday, July 17th. JPMorgan Chase & Co. began coverage on IQIYI in a research note on Friday, August 16th. They set an “underweight” rating and a $14.00 price objective on the stock. Zacks Investment Research lowered IQIYI from a “buy” rating to a “hold” rating in a research note on Wednesday, July 31st. Jefferies Financial Group began coverage on IQIYI in a research note on Monday, August 5th. They set a “buy” rating and a $21.80 price objective on the stock. Finally, Loop Capital began coverage on IQIYI in a research note on Monday, June 3rd. They set a “hold” rating and a $20.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. IQIYI presently has an average rating of “Hold” and an average target price of $21.40.

IQIYI stock opened at $18.69 on Tuesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market capitalization of $12.39 billion, a price-to-earnings ratio of -7.57 and a beta of 2.99. IQIYI has a fifty-two week low of $14.35 and a fifty-two week high of $32.46. The stock’s fifty day moving average is $18.51 and its two-hundred day moving average is $21.17.

IQIYI (NASDAQ:IQ) last posted its earnings results on Monday, August 19th. The company reported ($0.49) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.59) by $0.10. The company had revenue of $7.11 billion for the quarter, compared to analyst estimates of $7.05 billion. IQIYI had a negative return on equity of 52.01% and a negative net margin of 38.72%. IQIYI’s revenue was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.45) earnings per share. As a group, sell-side analysts forecast that IQIYI will post -1.8 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. WT Asset Management Ltd acquired a new stake in IQIYI in the 1st quarter worth about $53,067,000. Bank of America Corp DE boosted its stake in IQIYI by 852.6% in the 2nd quarter. Bank of America Corp DE now owns 8,193,215 shares of the company’s stock worth $169,191,000 after buying an additional 7,333,157 shares during the last quarter. Morgan Stanley boosted its stake in IQIYI by 77.6% in the 2nd quarter. Morgan Stanley now owns 13,583,901 shares of the company’s stock worth $280,508,000 after buying an additional 5,934,451 shares during the last quarter. Matthews International Capital Management LLC boosted its stake in IQIYI by 119.6% in the 2nd quarter. Matthews International Capital Management LLC now owns 4,800,700 shares of the company’s stock worth $99,134,000 after buying an additional 2,615,000 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in IQIYI by 34.5% in the 2nd quarter. BlackRock Inc. now owns 8,151,127 shares of the company’s stock worth $168,321,000 after buying an additional 2,091,228 shares during the last quarter. 20.24% of the stock is currently owned by institutional investors and hedge funds.

About IQIYI

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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