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IQIYI, Inc. Sponsored ADR (IQ) Gains But Lags Market: What You Should Know

Zacks Equity Research

In the latest trading session, iQIYI, Inc. Sponsored ADR (IQ) closed at $16.97, marking a +0.24% move from the previous day. This change lagged the S&P 500's 0.25% gain on the day. Elsewhere, the Dow gained 0.39%, while the tech-heavy Nasdaq lost 0.09%.

Prior to today's trading, shares of the company had lost 9.32% over the past month. This has was narrower than the Consumer Discretionary sector's loss of 9.49% and lagged the S&P 500's loss of 5.58% in that time.

Wall Street will be looking for positivity from IQ as it approaches its next earnings report date. This is expected to be August 19, 2019. The company is expected to report EPS of -$0.59, down 31.11% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.02 billion, up 9.05% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$1.77 per share and revenue of $4.41 billion, which would represent changes of +28.34% and +18.16%, respectively, from the prior year.

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It is also important to note the recent changes to analyst estimates for IQ. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 28.02% lower. IQ currently has a Zacks Rank of #3 (Hold).

The Film and Television Production and Distribution industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 156, which puts it in the bottom 40% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.


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Zacks Investment Research