In the latest trading session, iQIYI, Inc. Sponsored ADR (IQ - Free Report) closed at $15.92, marking a -1.3% move from the previous day. This move lagged the S&P 500's daily loss of 1.23%. Elsewhere, the Dow lost 1.28%, while the tech-heavy Nasdaq lost 1.13%.
Heading into today, shares of the company had lost 11.81% over the past month, lagging the Consumer Discretionary sector's loss of 0.1% and the S&P 500's gain of 1.95% in that time.
Investors will be hoping for strength from IQ as it approaches its next earnings release. The company is expected to report EPS of -$0.57, up 9.52% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.06 billion, up 4.5% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$1.94 per share and revenue of $4.17 billion, which would represent changes of +21.46% and +11.66%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for IQ. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 has moved 1.75% lower within the past month. IQ is currently a Zacks Rank #4 (Sell).
The Film and Television Production and Distribution industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 190, which puts it in the bottom 26% 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.