iQIYI, Inc. Sponsored ADR (IQ) closed at $27.18 in the latest trading session, marking a +0.41% move from the prior day. This move outpaced the S&P 500's daily loss of 0.16%. At the same time, the Dow lost 0.43%, and the tech-heavy Nasdaq lost 0.14%.
Heading into today, shares of the company had gained 14.32% over the past month, outpacing the Consumer Discretionary sector's gain of 1.58% and the S&P 500's gain of 3.63% in that time.
IQ will be looking to display strength as it nears its next earnings release, which is expected to be February 27, 2020. In that report, analysts expect IQ to post earnings of -$0.60 per share. This would mark year-over-year growth of 14.29%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1 billion, down 1.3% from the year-ago period.
Any recent changes to analyst estimates for IQ should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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. The Zacks Consensus EPS estimate has moved 1.64% higher within the past month. IQ 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 236, which puts it in the bottom 8% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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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