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

iQIYI, Inc. (NASDAQ:IQ) has been assigned an average rating of “Reduce” from the five research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $3.45.

A number of brokerages have weighed in on IQ. Nomura Securities upgraded iQIYI to a “hold” rating in a report on Monday, August 26th. JPMorgan Chase & Co. decreased their price target on iQIYI from $5.00 to $3.00 and set a “neutral” rating for the company in a report on Tuesday, July 23rd. Hsbc Global Res downgraded iQIYI from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 23rd. The Goldman Sachs Group downgraded iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 price target for the company. in a report on Tuesday, August 27th. Finally, Benchmark downgraded iQIYI from a “buy” rating to a “hold” rating in a report on Friday, August 23rd.

Institutional Investors Weigh In On iQIYI

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in shares of iQIYI by 13.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,846,420 shares of the company’s stock worth $21,443,000 after purchasing an additional 694,349 shares during the last quarter. Genesis Investment Management LLP increased its stake in shares of iQIYI by 112.1% during the 3rd quarter. Genesis Investment Management LLP now owns 16,582,183 shares of the company’s stock worth $47,425,000 after purchasing an additional 8,765,711 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of iQIYI by 8,351.7% during the 3rd quarter. SG Americas Securities LLC now owns 1,005,249 shares of the company’s stock worth $2,875,000 after purchasing an additional 993,355 shares during the last quarter. American Century Companies Inc. increased its stake in shares of iQIYI by 36.2% during the 2nd quarter. American Century Companies Inc. now owns 946,984 shares of the company’s stock worth $3,475,000 after purchasing an additional 251,813 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of iQIYI during the 1st quarter worth approximately $741,000. Hedge funds and other institutional investors own 52.69% of the company’s stock.

iQIYI Stock Down 3.3 %

Shares of NASDAQ:IQ opened at $2.61 on Friday. The company has a fifty day moving average of $2.42 and a 200-day moving average of $3.50. The company has a market capitalization of $2.50 billion, a PE ratio of 9.32, a price-to-earnings-growth ratio of 0.68 and a beta of 0.07. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.53 and a current ratio of 0.53. iQIYI has a 52-week low of $1.92 and a 52-week high of $5.80.

iQIYI (NASDAQ:IQ) last posted its quarterly earnings data on Thursday, August 22nd. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.05). The company 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 previous year, the company earned $0.05 earnings per share. On average, equities analysts predict that iQIYI will post 0.16 EPS for the current fiscal year.

About iQIYI

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.