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




  • In Business
  • 2022-08-05 22:00:10Z
  • By Zacks
 

iQIYI, Inc. Sponsored ADR (IQ) closed at $3.91 in the latest trading session, marking a +0.26% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.16%. Elsewhere, the Dow gained 0.23%, while the tech-heavy Nasdaq lost 0.01%.

Prior to today's trading, shares of the company had lost 10.35% over the past month. This has lagged the Consumer Discretionary sector's gain of 8.64% and the S&P 500's gain of 8.67% in that time.

Wall Street will be looking for positivity from iQIYI, Inc. Sponsored ADR as it approaches its next earnings report date. The company is expected to report EPS of -$0.06, up 77.78% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $1.03 billion, down 12.15% from the year-ago period.

IQ's full-year Zacks Consensus Estimates are calling for earnings of -$0.20 per share and revenue of $4.52 billion. These results would represent year-over-year changes of +77.27% and -4.37%, respectively.

Any recent changes to analyst estimates for iQIYI, Inc. Sponsored ADR should also be noted by investors. 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.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 remained stagnant. iQIYI, Inc. Sponsored ADR is holding a Zacks Rank of #3 (Hold) right now.

The Film and Television Production and Distribution industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 232, which puts it in the bottom 8% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
iQIYI, Inc. Sponsored ADR (IQ) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.

COMMENTS

More Related News

Accel Entertainment (ACEL) Meets Q2 Earnings Estimates
Accel Entertainment (ACEL) Meets Q2 Earnings Estimates

Accel Entertainment (ACEL) delivered earnings and revenue surprises of 0% and 6.32%, respectively, for the quarter ended June 2022. Do the numbers hold clues...

Ziff Davis (ZD) Surpasses Q2 Earnings Estimates
Ziff Davis (ZD) Surpasses Q2 Earnings Estimates

Ziff Davis (ZD) delivered earnings and revenue surprises of 6.76% and 4.56%, respectively, for the quarter ended June 2022. Do the numbers hold clues to what...

Jackson Financial (JXN) Beats Q2 Earnings and Revenue Estimates
Jackson Financial (JXN) Beats Q2 Earnings and Revenue Estimates

Jackson Financial (JXN) delivered earnings and revenue surprises of 43.18% and 317.35%, respectively, for the quarter ended June 2022. Do the numbers hold...

K12 (LRN) Q4 Earnings and Revenues Top Estimates
K12 (LRN) Q4 Earnings and Revenues Top Estimates

K12 (LRN) delivered earnings and revenue surprises of 4.76% and 7.81%, respectively, for the quarter ended June 2022. Do the numbers hold clues to what lies ...

Similarweb (SMWB) Reports Q2 Loss, Tops Revenue Estimates
Similarweb (SMWB) Reports Q2 Loss, Tops Revenue Estimates

Similarweb (SMWB) delivered earnings and revenue surprises of 35.48% and 4.04%, respectively, for the quarter ended June 2022. Do the numbers hold clues to...

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply

Comments

Top News: Business