$1.18 Billion in Sales Expected for IAC/InterActiveCorp (NASDAQ:IAC) This Quarter

Wall Street brokerages forecast that IAC/InterActiveCorp (NASDAQ:IAC) will announce $1.18 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for IAC/InterActiveCorp’s earnings. The highest sales estimate is $1.19 billion and the lowest is $1.18 billion. IAC/InterActiveCorp reported sales of $1.06 billion in the same quarter last year, which would suggest a positive year over year growth rate of 11.3%. The firm is scheduled to report its next earnings report after the market closes on Wednesday, August 7th.

On average, analysts expect that IAC/InterActiveCorp will report full year sales of $4.80 billion for the current financial year, with estimates ranging from $4.76 billion to $4.85 billion. For the next fiscal year, analysts anticipate that the business will report sales of $5.54 billion, with estimates ranging from $5.34 billion to $5.77 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover IAC/InterActiveCorp.

IAC/InterActiveCorp (NASDAQ:IAC) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.40 by $0.51. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.09 billion. IAC/InterActiveCorp had a net margin of 14.74% and a return on equity of 16.05%. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.71 EPS.

A number of equities research analysts have issued reports on IAC shares. BMO Capital Markets increased their target price on shares of Air Products & Chemicals to $235.00 and gave the stock an “outperform” rating in a report on Monday, May 13th. UBS Group set a $133.00 target price on shares of LHC Group and gave the stock a “buy” rating in a report on Friday, May 10th. JMP Securities started coverage on shares of Zoom Video Communications in a report on Monday, May 13th. They set a “market perform” rating and a $79.63 target price on the stock. Wells Fargo & Co reduced their target price on shares of Nevro from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Monday, May 13th. Finally, Nomura dropped their price objective on shares of CytomX Therapeutics to $22.00 in a research report on Monday, May 13th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. IAC/InterActiveCorp presently has a consensus rating of “Buy” and an average target price of $265.82.

In related news, CFO Glenn Schiffman sold 1,000 shares of the firm’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $225.00, for a total value of $225,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 10,000 shares of company stock valued at $2,232,440 in the last quarter. Company insiders own 11.50% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in IAC. Valeo Financial Advisors LLC purchased a new position in IAC/InterActiveCorp during the 2nd quarter valued at about $29,000. Icon Wealth Partners LLC purchased a new position in IAC/InterActiveCorp during the 1st quarter valued at about $32,000. Winslow Evans & Crocker Inc. increased its holdings in IAC/InterActiveCorp by 40.3% during the 1st quarter. Winslow Evans & Crocker Inc. now owns 216 shares of the company’s stock valued at $48,000 after acquiring an additional 62 shares in the last quarter. Meridian Wealth Management LLC purchased a new position in IAC/InterActiveCorp during the 1st quarter valued at about $56,000. Finally, NEXT Financial Group Inc increased its holdings in IAC/InterActiveCorp by 152.0% during the 2nd quarter. NEXT Financial Group Inc now owns 315 shares of the company’s stock valued at $69,000 after acquiring an additional 190 shares in the last quarter. Hedge funds and other institutional investors own 89.51% of the company’s stock.

IAC/InterActiveCorp stock traded down $0.74 during mid-day trading on Friday, reaching $238.22. 570,323 shares of the company’s stock were exchanged, compared to its average volume of 643,903. The firm has a market capitalization of $19.96 billion, a P/E ratio of 42.62, a P/E/G ratio of 2.43 and a beta of 0.96. IAC/InterActiveCorp has a twelve month low of $144.71 and a twelve month high of $244.87. The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 0.65. The stock’s fifty day simple moving average is $226.07.

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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