iQIYI, Inc. Sponsored ADR (IQ - Free Report) closed at $27.42 in the latest trading session, marking a +1.48% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.37%. Elsewhere, the Dow gained 0.25%, while the tech-heavy Nasdaq added 0.34%.
Heading into today, shares of the company had gained 22.82% over the past month, outpacing the Consumer Discretionary sector's gain of 1.8% and the S&P 500's gain of 1.83% in that time.
IQ will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.52, up 76.04% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.06 billion, up 37.72% from the prior-year quarter.
IQ's full-year Zacks Consensus Estimates are calling for earnings of -$1.36 per share and revenue of $5.08 billion. These results would represent year-over-year changes of +44.94% and +36.12%, respectively.
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. As a result, we can interpret positive estimate revisions as a good sign for 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.
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 12.4% lower. 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 47, which puts it in the top 19% 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.
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