Wall Street brokerages expect IAC/InterActiveCorp (NASDAQ:IAC) to announce $1.07 billion in sales for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for IAC/InterActiveCorp’s earnings, with estimates ranging from $1.06 billion to $1.09 billion. IAC/InterActiveCorp posted sales of $950.59 million in the same quarter last year, which suggests a positive year-over-year growth rate of 12.6%. The company is expected to issue its next quarterly earnings report on Wednesday, February 6th.
According to Zacks, analysts expect that IAC/InterActiveCorp will report full-year sales of $4.20 billion for the current financial year, with estimates ranging from $4.18 billion to $4.21 billion. For the next year, analysts expect that the company will report sales of $4.79 billion, with estimates ranging from $4.71 billion to $4.82 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for IAC/InterActiveCorp.
IAC/InterActiveCorp (NASDAQ:IAC) last issued its quarterly earnings data on Wednesday, November 7th. The company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.46. IAC/InterActiveCorp had a net margin of 13.09% and a return on equity of 10.24%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the firm earned $0.55 EPS. The company’s quarterly revenue was up 33.3% compared to the same quarter last year.
IAC has been the topic of several research analyst reports. BMO Capital Markets boosted their target price on shares of IAC/InterActiveCorp to $282.00 and gave the stock an “outperform” rating in a research report on Friday. Zacks Investment Research downgraded shares of IAC/InterActiveCorp from a “buy” rating to a “hold” rating in a research report on Friday. BidaskClub downgraded shares of IAC/InterActiveCorp from a “buy” rating to a “hold” rating in a research report on Thursday. Nomura initiated coverage on shares of IAC/InterActiveCorp in a research report on Thursday, October 11th. They set a “buy” rating and a $246.00 target price on the stock. Finally, Benchmark reissued a “buy” rating and set a $260.00 target price (up previously from $204.00) on shares of IAC/InterActiveCorp in a research report on Thursday, October 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. IAC/InterActiveCorp presently has an average rating of “Buy” and an average target price of $213.27.
In other news, CFO Glenn Schiffman sold 2,000 shares of the company’s stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $199.05, for a total value of $398,100.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 10.90% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in IAC. FMR LLC boosted its holdings in shares of IAC/InterActiveCorp by 118.6% in the 3rd quarter. FMR LLC now owns 1,423,857 shares of the company’s stock valued at $308,578,000 after acquiring an additional 772,398 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of IAC/InterActiveCorp by 16.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 3,927,175 shares of the company’s stock valued at $598,855,000 after purchasing an additional 559,748 shares during the period. Cadian Capital Management LP lifted its stake in shares of IAC/InterActiveCorp by 33.4% in the 2nd quarter. Cadian Capital Management LP now owns 1,910,237 shares of the company’s stock valued at $291,292,000 after purchasing an additional 478,270 shares during the period. BlackRock Inc. lifted its stake in shares of IAC/InterActiveCorp by 10.5% in the 2nd quarter. BlackRock Inc. now owns 4,367,820 shares of the company’s stock valued at $666,045,000 after purchasing an additional 415,012 shares during the period. Finally, Millennium Management LLC lifted its stake in shares of IAC/InterActiveCorp by 86.6% in the 2nd quarter. Millennium Management LLC now owns 857,052 shares of the company’s stock valued at $130,692,000 after purchasing an additional 397,788 shares during the period. 86.13% of the stock is currently owned by institutional investors and hedge funds.
Shares of IAC/InterActiveCorp stock traded up $0.24 on Friday, reaching $186.55. The stock had a trading volume of 1,856,447 shares, compared to its average volume of 900,859. The company has a quick ratio of 2.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.61. IAC/InterActiveCorp has a 1 year low of $118.83 and a 1 year high of $223.54. The company has a market cap of $16.40 billion, a P/E ratio of 242.27, a PEG ratio of 2.47 and a beta of 1.35.
IAC/InterActiveCorp, together with its subsidiaries, operates as a media and Internet company in the United States and internationally. It operates through Match Group, ANGI Homeservices, Video, Applications, and Publishing segments. The Match Group segment provides subscription dating products, which enable users to establish a profile and review the profiles of other users in 42 languages.
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