iQIYI, Inc. Sponsored ADR (IQ - Free Report) closed at $18.16 in the latest trading session, marking a -1.73% move from the prior day. This move lagged the S&P 500's daily gain of 0.3%. Elsewhere, the Dow gained 0.15%, while the tech-heavy Nasdaq added 0.42%.
Heading into today, shares of the company had lost 4.25% over the past month, lagging the Consumer Discretionary sector's gain of 1.45% and the S&P 500's gain of 2.2% in that time.
Investors will be hoping for strength from IQ as it approaches its next earnings release. On that day, IQ is projected to report earnings of -$0.39 per share, which would represent year-over-year growth of 13.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.04 billion, up 11.5% from the year-ago period.
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.
It is also important to note the recent changes to analyst estimates for IQ. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. IQ is currently a Zacks Rank #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 178, putting it in the bottom 31% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.