IAC (NASDAQ:IAC) Issues Earnings Results, Misses Expectations By $2.73 EPS

IAC (NASDAQ:IAC) posted 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 return on equity of 2.35% and a negative net margin of 3.95%. The firm had revenue of $938.70 million for the quarter, compared to analyst estimates of $922.62 million. During the same period last year, the company posted ($0.30) earnings per share. The firm’s quarterly revenue was down 15.5% compared to the same quarter last year.

IAC Stock Performance

NASDAQ:IAC opened at $55.10 on Tuesday. IAC has a 1 year low of $43.51 and a 1 year high of $58.29. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.68 and a quick ratio of 2.68. The business has a fifty day simple moving average of $52.28 and a two-hundred day simple moving average of $50.94. The company has a market capitalization of $4.43 billion, a P/E ratio of -24.82 and a beta of 1.33.

Analyst Upgrades and Downgrades

IAC has been the topic of a number of research reports. Barclays lowered their target price on IAC from $73.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Benchmark restated a “buy” rating and set a $110.00 price objective on shares of IAC in a report on Tuesday, August 27th. UBS Group raised shares of IAC to a “hold” rating in a research report on Monday, October 28th. KeyCorp lowered their price target on IAC from $67.00 to $66.00 and set an “overweight” rating for the company in a research report on Friday, August 16th. Finally, Citigroup reduced their price objective on shares of IAC from $70.00 to $66.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $77.89.

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.