Wall Street analysts expect that IAC/InterActiveCorp (NASDAQ:IAC) will report sales of $1.18 billion for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for IAC/InterActiveCorp’s earnings, with estimates ranging from $1.18 billion to $1.19 billion. IAC/InterActiveCorp posted sales of $1.06 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 11.3%. The business is scheduled to announce its next quarterly earnings results on Wednesday, August 14th.
According to Zacks, analysts expect that IAC/InterActiveCorp will report full-year sales of $4.80 billion for the current fiscal year, with estimates ranging from $4.76 billion to $4.85 billion. For the next fiscal year, analysts expect that the company will report sales of $5.54 billion, with estimates ranging from $5.34 billion to $5.77 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for IAC/InterActiveCorp.
IAC/InterActiveCorp (NASDAQ:IAC) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.51. IAC/InterActiveCorp had a return on equity of 16.05% and a net margin of 14.74%. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the previous year, the business posted $0.71 EPS. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year.
A number of research analysts have weighed in on IAC shares. BidaskClub raised IAC/InterActiveCorp from a “hold” rating to a “buy” rating in a report on Wednesday, May 8th. Zacks Investment Research raised IAC/InterActiveCorp from a “hold” rating to a “buy” rating and set a $252.00 price objective for the company in a report on Thursday, May 2nd. UBS Group boosted their price objective on IAC/InterActiveCorp from $265.00 to $285.00 and gave the stock a “buy” rating in a report on Friday, May 10th. JPMorgan Chase & Co. boosted their price objective on IAC/InterActiveCorp from $250.00 to $265.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. Finally, Wells Fargo & Co boosted their price objective on IAC/InterActiveCorp from $250.00 to $280.00 and gave the stock an “outperform” rating in a report on Monday, May 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $265.82.
IAC stock traded up $3.63 during mid-day trading on Friday, reaching $216.55. 49,137 shares of the company traded hands, compared to its average volume of 665,973. The company has a quick ratio of 3.12, a current ratio of 3.12 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $18.98 billion, a P/E ratio of 38.57, a P/E/G ratio of 2.31 and a beta of 1.06. IAC/InterActiveCorp has a 52-week low of $144.71 and a 52-week high of $242.86. The company has a fifty day moving average price of $226.50.
In other IAC/InterActiveCorp news, CFO Glenn Schiffman sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $211.22, for a total value of $422,440.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders sold 9,000 shares of company stock valued at $1,988,500. 11.50% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the business. Icon Wealth Partners LLC bought a new stake in IAC/InterActiveCorp in the first quarter valued at approximately $32,000. Lindbrook Capital LLC bought a new stake in IAC/InterActiveCorp in the fourth quarter valued at approximately $34,000. Winslow Evans & Crocker Inc. lifted its position in IAC/InterActiveCorp by 40.3% in the first quarter. Winslow Evans & Crocker Inc. now owns 216 shares of the company’s stock valued at $48,000 after purchasing an additional 62 shares during the last quarter. Meridian Wealth Management LLC bought a new stake in IAC/InterActiveCorp in the first quarter valued at approximately $56,000. Finally, Athena Capital Advisors LLC bought a new stake in IAC/InterActiveCorp in the fourth quarter valued at approximately $64,000. Hedge funds and other institutional investors own 89.55% of the company’s stock.
IAC/InterActiveCorp, together with its subsidiaries, operates as a media and Internet company in the United States and internationally. The company's Match Group segment provides subscription dating products under the Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, Pairs and Hinge, and other brands.
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