IAC (NASDAQ:IAC) Issues Quarterly Earnings Results, Beats Expectations By $1.30 EPS

IAC (NASDAQ:IAC) posted its earnings results on Monday. The company reported ($2.64) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.94) by $1.30, Briefing.com reports. The firm had revenue of $570.49 million for the quarter, compared to analyst estimates of $809.18 million. IAC had a negative net margin of 14.18% and a negative return on equity of 7.98%. The company’s revenue for the quarter was down 8.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.51 EPS.

IAC Stock Down 2.6 %

Shares of NASDAQ:IAC traded down $0.93 during trading on Tuesday, reaching $34.42. 255,372 shares of the stock were exchanged, compared to its average volume of 771,199. The stock has a fifty day moving average of $40.12 and a two-hundred day moving average of $43.80. IAC has a 1-year low of $32.05 and a 1-year high of $58.29. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.80 and a quick ratio of 2.75. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of -5.26 and a beta of 1.24.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on IAC shares. UBS Group lowered their target price on IAC from $55.00 to $54.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Cowen reaffirmed a “buy” rating on shares of IAC in a research note on Monday. Barclays lowered their target price on shares of IAC from $66.00 to $61.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Benchmark cut their price target on shares of IAC from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. dropped their price objective on IAC from $60.00 to $45.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $61.00.

About IAC

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.