IAC (NASDAQ:IAC) Announces Quarterly Earnings Results

IAC (NASDAQ:IAC) announced its quarterly earnings results on Monday. The company reported ($2.93) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($2.73), Briefing.com reports. IAC had a negative net margin of 0.34% and a negative return on equity of 5.63%. The company had revenue of $938.70 million for the quarter, compared to analyst estimates of $922.62 million. During the same quarter in the prior year, the business earned ($0.30) earnings per share. IAC’s revenue was down 15.5% on a year-over-year basis.

IAC Trading Down 2.4 %

NASDAQ IAC opened at $47.01 on Thursday. IAC has a one year low of $43.51 and a one year high of $58.29. The firm has a market cap of $3.78 billion, a PE ratio of -109.33 and a beta of 1.33. The firm’s fifty day moving average is $52.22 and its two-hundred day moving average is $50.93. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.68 and a current ratio of 2.75.

Analysts Set New Price Targets

A number of equities analysts recently commented on IAC shares. KeyCorp lowered their target price on IAC from $67.00 to $66.00 and set an “overweight” rating for the company in a report on Friday, August 16th. Citigroup dropped their price objective on shares of IAC from $70.00 to $66.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Benchmark restated a “buy” rating and issued a $110.00 price target on shares of IAC in a research note on Tuesday. TD Cowen decreased their price target on shares of IAC from $82.00 to $77.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Truist Financial dropped their price objective on shares of IAC from $88.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $76.60.

IAC Company Profile

IAC Inc, together with its subsidiaries, operates as a media and internet company worldwide. The company publishes original and engaging digital content in the form of articles, illustrations, and videos and images across entertainment, food, home, beauty, travel, health, family, luxury, and fashion areas; and magazines related to women and lifestyle.