iQIYI, Inc. Sponsored ADR (IQ) closed at $3.73 in the latest trading session, marking a -1.06% move from the prior day. This change lagged the S&P 500's daily gain of 0.23%. At the same time, the Dow added 0.06%, and the tech-heavy Nasdaq gained 0.09%.
Heading into today, shares of the company had lost 12.73% over the past month, lagging the Consumer Discretionary sector's gain of 11.09% and the S&P 500's gain of 10.76% in that time.
iQIYI, Inc. Sponsored ADR will be looking to display strength as it nears its next earnings release, which is expected to be August 30, 2022. In that report, analysts expect iQIYI, Inc. Sponsored ADR to post earnings of -$0.05 per share. This would mark year-over-year growth of 81.48%. Our most recent consensus estimate is calling for quarterly revenue of $1.02 billion, down 13.82% from the year-ago period.
IQ's full-year Zacks Consensus Estimates are calling for earnings of -$0.16 per share and revenue of $4.47 billion. These results would represent year-over-year changes of +81.82% and -5.38%, respectively.
Investors might also notice recent changes to analyst estimates for iQIYI, Inc. Sponsored ADR. These revisions help to show the ever-changing nature of 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. 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.
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 17.95% higher within the past month. iQIYI, Inc. Sponsored ADR 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 group has a Zacks Industry Rank of 174, 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.
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