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

IAC (NASDAQ:IAC) announced its earnings results on Monday. The company reported ($2.93) earnings per share (EPS) 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 company had revenue of $938.70 million for the quarter, compared to the consensus estimate of $922.62 million. During the same period last year, the firm posted ($0.30) EPS. The company’s revenue was down 15.5% compared to the same quarter last year.

IAC Trading Up 3.1 %

Shares of NASDAQ IAC opened at $55.10 on Tuesday. The stock has a market cap of $4.43 billion, a P/E ratio of -24.82 and a beta of 1.33. The firm has a 50 day moving average price of $52.28 and a two-hundred day moving average price of $50.94. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.68 and a current ratio of 2.68. IAC has a 52-week low of $43.51 and a 52-week high of $58.29.

Analyst Upgrades and Downgrades

IAC has been the subject of a number of recent research reports. Citigroup cut their target price on IAC from $70.00 to $66.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Barclays dropped their target price on IAC from $73.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Truist Financial boosted their price target on IAC from $87.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. UBS Group upgraded IAC to a “hold” rating in a research note on Monday, October 28th. Finally, KeyCorp reduced their target price on shares of IAC from $67.00 to $66.00 and set an “overweight” rating on the stock in a research note on Friday, August 16th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, IAC currently has an average rating of “Moderate Buy” and an average price target of $77.89.

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.