Wall Street analysts predict that IAC/InterActiveCorp (NASDAQ:IAC) will post $1.10 billion in sales for the current quarter, Zacks reports. Two analysts have issued estimates for IAC/InterActiveCorp’s earnings. The lowest sales estimate is $1.10 billion and the highest is $1.11 billion. IAC/InterActiveCorp posted sales of $995.08 million during the same quarter last year, which suggests a positive year over year growth rate of 10.5%. The company is scheduled to announce its next quarterly earnings results on Thursday, February 7th.
On average, analysts expect that IAC/InterActiveCorp will report full year sales of $4.81 billion for the current year, with estimates ranging from $4.71 billion to $4.85 billion. For the next financial year, analysts expect that the business will post sales of $5.52 billion, with estimates ranging from $5.47 billion to $5.61 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover IAC/InterActiveCorp.
IAC/InterActiveCorp (NASDAQ:IAC) last released its earnings results on Thursday, February 7th. The company reported $2.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.99 by $1.05. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.07 billion. IAC/InterActiveCorp had a net margin of 14.71% and a return on equity of 16.53%. The company’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.37 earnings per share.
A number of research analysts have weighed in on the stock. BMO Capital Markets boosted their target price on shares of IAC/InterActiveCorp from $287.00 to $291.00 and gave the company an “outperform” rating in a research note on Monday. Jefferies Financial Group boosted their target price on shares of IAC/InterActiveCorp to $260.00 in a research note on Monday. Nomura boosted their target price on shares of IAC/InterActiveCorp from $206.00 to $239.00 and gave the company a “buy” rating in a research note on Monday. Oppenheimer boosted their target price on shares of IAC/InterActiveCorp from $275.00 to $280.00 and gave the company an “outperform” rating in a research note on Monday. Finally, JPMorgan Chase & Co. boosted their target price on shares of IAC/InterActiveCorp to $250.00 and gave the company an “overweight” rating in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $235.54.
IAC traded up $5.58 during midday trading on Monday, reaching $221.54. The company had a trading volume of 1,188,162 shares, compared to its average volume of 815,825. The company has a quick ratio of 2.77, a current ratio of 2.77 and a debt-to-equity ratio of 0.60. The stock has a market cap of $18.03 billion, a price-to-earnings ratio of 39.63, a PEG ratio of 2.24 and a beta of 1.14. IAC/InterActiveCorp has a 12-month low of $128.80 and a 12-month high of $223.54.
In related news, CFO Glenn Schiffman sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, January 18th. The shares were sold at an average price of $200.00, for a total transaction of $200,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold a total of 4,000 shares of company stock worth $796,530 over the last 90 days. 10.90% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its holdings in IAC/InterActiveCorp by 16.8% during the 4th quarter. BlackRock Inc. now owns 5,259,290 shares of the company’s stock worth $962,663,000 after acquiring an additional 756,555 shares during the period. Canada Pension Plan Investment Board increased its holdings in IAC/InterActiveCorp by 5.9% during the 3rd quarter. Canada Pension Plan Investment Board now owns 4,156,975 shares of the company’s stock worth $900,900,000 after acquiring an additional 229,800 shares during the period. Morgan Stanley increased its holdings in IAC/InterActiveCorp by 153.4% during the 3rd quarter. Morgan Stanley now owns 1,471,397 shares of the company’s stock worth $318,880,000 after acquiring an additional 890,730 shares during the period. FMR LLC increased its holdings in IAC/InterActiveCorp by 118.6% during the 3rd quarter. FMR LLC now owns 1,423,857 shares of the company’s stock worth $308,578,000 after acquiring an additional 772,398 shares during the period. Finally, First Manhattan Co. increased its holdings in IAC/InterActiveCorp by 25.8% during the 4th quarter. First Manhattan Co. now owns 1,183,878 shares of the company’s stock worth $216,697,000 after acquiring an additional 242,519 shares during the period. 88.67% of the stock is currently owned by institutional investors and hedge funds.
IAC/InterActiveCorp Company Profile
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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