iQIYI, Inc. Sponsored ADR (IQ) closed the most recent trading day at $3.94, moving -0.76% from the previous trading session. This move was narrower than the S&P 500's daily loss of 3.37%. Elsewhere, the Dow lost 3.03%, while the tech-heavy Nasdaq lost 0.09%.
Coming into today, shares of the company had lost 5.02% in the past month. In that same time, the Consumer Discretionary sector gained 2.28%, while the S&P 500 gained 6.05%.
iQIYI, Inc. Sponsored ADR will be looking to display strength as it nears its next earnings release, which is expected to be August 30, 2022. The company is expected to report EPS of -$0.05, up 81.48% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.02 billion, down 13.82% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.16 per share and revenue of $4.42 billion, which would represent changes of +81.82% and -6.41%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for iQIYI, Inc. Sponsored ADR. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 17.95% higher. iQIYI, Inc. Sponsored ADR currently has a Zacks Rank of #2 (Buy).
The Film and Television Production and Distribution industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 91, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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iQIYI, Inc. Sponsored ADR (IQ) : Free Stock Analysis Report
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