Wall Street brokerages expect IAC/InterActiveCorp (NASDAQ:IAC) to post $879.65 million in sales for the current quarter, according to Zacks. Four analysts have made estimates for IAC/InterActiveCorp’s earnings, with the lowest sales estimate coming in at $829.55 million and the highest estimate coming in at $899.00 million. IAC/InterActiveCorp reported sales of $811.16 million in the same quarter last year, which indicates a positive year-over-year growth rate of 8.4%. The business is scheduled to issue its next earnings report after the market closes on Wednesday, February 7th.
According to Zacks, analysts expect that IAC/InterActiveCorp will report full year sales of $879.65 million for the current year, with estimates ranging from $3.17 billion to $3.26 billion. For the next year, analysts forecast that the company will report sales of $3.83 billion per share, with estimates ranging from $3.56 billion to $3.93 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for IAC/InterActiveCorp.
IAC/InterActiveCorp (NASDAQ:IAC) last announced its earnings results on Wednesday, November 8th. The company reported $0.55 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.14). IAC/InterActiveCorp had a net margin of 11.81% and a return on equity of 4.26%. The firm had revenue of $828.40 million during the quarter, compared to analysts’ expectations of $810.36 million. During the same period in the prior year, the company posted $0.73 EPS. The company’s revenue was up 8.4% compared to the same quarter last year.
Several brokerages have recently weighed in on IAC. BidaskClub raised shares of IAC/InterActiveCorp from a “hold” rating to a “buy” rating in a research note on Saturday, January 6th. UBS Group increased their target price on shares of IAC/InterActiveCorp from $135.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, November 10th. Piper Jaffray Companies reissued an “overweight” rating and issued a $160.00 target price (up previously from $152.00) on shares of IAC/InterActiveCorp in a research note on Wednesday, October 4th. Needham & Company LLC increased their target price on shares of IAC/InterActiveCorp from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, November 10th. Finally, Bank of America increased their target price on shares of IAC/InterActiveCorp from $150.00 to $166.00 and gave the company a “buy” rating in a research note on Friday, November 10th. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $143.62.
In other IAC/InterActiveCorp news, Director David S. Rosenblatt sold 6,000 shares of the firm’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $133.00, for a total transaction of $798,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Joseph Levin sold 78,500 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $128.83, for a total transaction of $10,113,155.00. The disclosure for this sale can be found here. Insiders have sold a total of 175,929 shares of company stock worth $22,516,569 in the last three months. Insiders own 11.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of IAC. Fieldpoint Private Securities LLC bought a new stake in shares of IAC/InterActiveCorp in the 3rd quarter valued at about $105,000. Cerebellum GP LLC bought a new stake in shares of IAC/InterActiveCorp in the 4th quarter valued at about $124,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of IAC/InterActiveCorp in the 4th quarter valued at about $147,000. Piedmont Investment Advisors LLC bought a new stake in shares of IAC/InterActiveCorp in the 2nd quarter valued at about $205,000. Finally, Timber Hill LLC bought a new stake in shares of IAC/InterActiveCorp in the 3rd quarter valued at about $208,000. 86.59% of the stock is currently owned by institutional investors and hedge funds.
Shares of IAC/InterActiveCorp (NASDAQ IAC) traded down $0.79 on Friday, hitting $143.75. 474,898 shares of the stock traded hands, compared to its average volume of 640,595. IAC/InterActiveCorp has a 1-year low of $66.35 and a 1-year high of $144.74. The stock has a market capitalization of $11,849.97, a P/E ratio of 36.30, a P/E/G ratio of 4.46 and a beta of 1.10. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.57.
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IAC/InterActiveCorp (IAC) is a media and Internet company. The Company’s brands include HomeAdvisor, Vimeo, Dictionary.com and Match Group’s online dating portfolio, which includes Tinder, PlentyOfFish and OkCupid. Its segments include Match Group, HomeAdvisor, Video, Applications and Publishing. Match Group includes the dating and non-dating businesses of Match Group, Inc HomeAdvisor is a home services digital marketplace that helps connect consumers with home professionals in North America, as well as in France, the Netherlands and Italy under various brands.
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