IAC (NASDAQ:IAC) Releases Quarterly Earnings Results, Beats Expectations By $1.14 EPS

IAC (NASDAQ:IAC - Get Free Report) announced its quarterly earnings results on Monday. The company reported ($2.80) earnings per share for the quarter, beating the consensus estimate of ($3.94) by $1.14, Zacks reports. IAC had a negative net margin of 14.18% and a negative return on equity of 7.98%. The firm had revenue of $570.49 million for the quarter, compared to analysts' expectations of $809.18 million. During the same quarter in the previous year, the company posted $0.51 EPS. The company's revenue was down 8.6% compared to the same quarter last year.

IAC Stock Up 0.7 %

IAC traded up $0.25 on Friday, hitting $37.02. 1,617,634 shares of the company were exchanged, compared to its average volume of 774,061. The firm has a 50-day moving average price of $39.33 and a two-hundred day moving average price of $43.40. The company has a current ratio of 2.80, a quick ratio of 2.75 and a debt-to-equity ratio of 0.31. IAC has a twelve month low of $32.05 and a twelve month high of $58.29. The company has a market cap of $2.87 billion, a price-to-earnings ratio of -5.68 and a beta of 1.24.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on IAC. JMP Securities cut their price target on shares of IAC from $70.00 to $64.00 and set a "market outperform" rating for the company in a report on Thursday, February 13th. Barclays reduced their target price on IAC from $61.00 to $52.00 and set an "overweight" rating on the stock in a research report on Tuesday. Truist Financial lowered their price target on IAC from $80.00 to $76.00 and set a "buy" rating for the company in a report on Thursday, February 13th. UBS Group reduced their price objective on shares of IAC from $54.00 to $38.00 and set a "neutral" rating on the stock in a report on Wednesday. Finally, JPMorgan Chase & Co. lowered their target price on shares of IAC from $60.00 to $45.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $57.43.

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.