In the latest trading session, iQIYI, Inc. Sponsored ADR (IQ - Free Report) closed at $17.91, marking a +1.39% move from the previous day. This move outpaced the S&P 500's daily gain of 0.61%. At the same time, the Dow added 0.71%, and the tech-heavy Nasdaq gained 0.53%.
Prior to today's trading, shares of the company had lost 18.09% over the past month. This has lagged the Consumer Discretionary sector's loss of 4.98% and the S&P 500's loss of 3.77% in that time.
Investors will be hoping for strength from IQ as it approaches its next earnings release. In that report, analysts expect IQ to post earnings of -$0.39 per share. This would mark year-over-year growth of 13.33%. Meanwhile, our latest consensus estimate is calling for revenue of $1.04 billion, up 11.5% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$1.38 per share and revenue of $4.64 billion, which would represent changes of +44.13% and +24.26%, 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. 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 15.85% higher within the past month. IQ is currently sporting a Zacks Rank of #2 (Buy).
The Film and Television Production and Distribution industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 207, which puts it in the bottom 20% 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.
To follow IQ in the coming trading sessions, be sure to utilize Zacks.com.