In the latest trading session, iQIYI, Inc. Sponsored ADR (IQ - Free Report) closed at $26.38, marking a +0.57% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.3%. At the same time, the Dow lost 0.38%, and the tech-heavy Nasdaq gained 0.44%.
Heading into today, shares of the company had gained 25.92% over the past month, outpacing the Consumer Discretionary sector's gain of 3.17% and the S&P 500's gain of 2.91% in that time.
Wall Street will be looking for positivity from IQ as it approaches its next earnings report date. On that day, IQ is projected to report earnings of -$0.52 per share, which would represent year-over-year growth of 76.04%.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$1.36 per share and revenue of $4.83 billion, which would represent changes of +44.94% and +29.41%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for IQ. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
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. Within the past 30 days, our consensus EPS projection has moved 26.51% lower. IQ is currently sporting a Zacks Rank of #3 (Hold).
The Film and Television Production and Distribution industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 45, putting it in the top 18% 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.