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 for the quarter, missing the consensus estimate of ($0.20) by ($2.73), Briefing.com reports. The business had revenue of $938.70 million for the quarter, compared to analyst estimates of $922.62 million. IAC had a negative net margin of 0.34% and a negative return on equity of 5.57%. The firm’s revenue was down 15.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.30) earnings per share.

IAC Trading Down 12.6 %

Shares of NASDAQ IAC opened at $48.18 on Wednesday. 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 firm’s 50-day moving average price is $52.28 and its two-hundred day moving average price is $50.94. IAC has a 52-week low of $43.51 and a 52-week high of $58.29.

Analyst Ratings Changes

IAC has been the subject of several recent analyst reports. Truist Financial raised their target price 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. Benchmark reiterated a “buy” rating and issued a $110.00 price target on shares of IAC in a research note on Tuesday. Citigroup decreased their price target on IAC from $70.00 to $66.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, Barclays decreased their price target on IAC from $73.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.