Zacks: Analysts Anticipate IAC/InterActiveCorp (IAC) Will Post Quarterly Sales of $1.10 Billion

Wall Street brokerages expect IAC/InterActiveCorp (NASDAQ:IAC) to post $1.10 billion in sales for the current fiscal quarter, Zacks reports. Six analysts have made estimates for IAC/InterActiveCorp’s earnings, with estimates ranging from $1.09 billion to $1.10 billion. IAC/InterActiveCorp reported sales of $995.08 million in the same quarter last year, which indicates a positive year-over-year growth rate of 10.5%. The company is scheduled to announce its next earnings report after the market closes on Wednesday, May 8th.

According to Zacks, analysts expect that IAC/InterActiveCorp will report full-year sales of $4.75 billion for the current year, with estimates ranging from $4.70 billion to $4.83 billion. For the next financial year, analysts forecast that the business will post sales of $5.43 billion, with estimates ranging from $5.36 billion to $5.57 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that that provide coverage for IAC/InterActiveCorp.

IAC/InterActiveCorp (NASDAQ:IAC) last released its quarterly earnings results on Thursday, February 7th. The company reported $2.04 EPS for the quarter, topping the consensus estimate of $0.99 by $1.05. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.07 billion. IAC/InterActiveCorp had a return on equity of 16.11% and a net margin of 14.71%. IAC/InterActiveCorp’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.37 EPS.

A number of equities analysts have issued reports on IAC shares. Zacks Investment Research raised IAC/InterActiveCorp from a “sell” rating to a “hold” rating in a research report on Thursday, February 14th. BidaskClub lowered IAC/InterActiveCorp from a “buy” rating to a “hold” rating in a research report on Thursday, February 28th. ValuEngine raised IAC/InterActiveCorp from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, January 29th. Goldman Sachs Group started coverage on IAC/InterActiveCorp in a research report on Monday, February 4th. They issued a “neutral” rating and a $226.00 target price on the stock. Finally, Bank of America cut their target price on IAC/InterActiveCorp from $240.00 to $228.00 and set a “buy” rating on the stock in a research report on Tuesday, January 8th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eighteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $241.35.

IAC/InterActiveCorp stock traded up $2.97 during midday trading on Friday, hitting $220.02. 1,072,235 shares of the company were exchanged, compared to its average volume of 734,568. The firm has a market capitalization of $18.43 billion, a PE ratio of 39.36, a price-to-earnings-growth ratio of 2.54 and a beta of 1.08. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.13 and a current ratio of 3.13. IAC/InterActiveCorp has a fifty-two week low of $128.80 and a fifty-two week high of $224.63.

In other news, CFO Glenn Schiffman sold 2,000 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $211.22, for a total value of $422,440.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David S. Rosenblatt sold 4,528 shares of the stock in a transaction on Tuesday, February 12th. The stock was sold at an average price of $220.64, for a total value of $999,057.92. The disclosure for this sale can be found here. In the last three months, insiders sold 10,528 shares of company stock valued at $2,266,478. Company insiders own 10.90% of the company’s stock.

Several institutional investors have recently made changes to their positions in IAC. Csenge Advisory Group acquired a new stake in shares of IAC/InterActiveCorp in the third quarter valued at $29,000. Lindbrook Capital LLC acquired a new stake in shares of IAC/InterActiveCorp in the fourth quarter valued at $34,000. Quantamental Technologies LLC acquired a new stake in shares of IAC/InterActiveCorp in the fourth quarter valued at $43,000. Athena Capital Advisors LLC acquired a new stake in shares of IAC/InterActiveCorp in the fourth quarter valued at $64,000. Finally, Riverview Trust Co acquired a new stake in shares of IAC/InterActiveCorp in the fourth quarter valued at $92,000. Institutional investors and hedge funds own 89.37% of the company’s stock.

IAC/InterActiveCorp Company Profile

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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Earnings History and Estimates for IAC/InterActiveCorp (NASDAQ:IAC)

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