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

IAC (NASDAQ:IAC) announced its earnings results on Monday. The company reported ($2.93) EPS for the quarter, missing the consensus estimate of ($0.20) by ($2.73), Briefing.com reports. IAC had a negative return on equity of 5.57% and a negative net margin of 0.34%. The firm had revenue of $938.70 million for the quarter, compared to the consensus estimate of $922.62 million. During the same period in the previous year, the firm earned ($0.30) EPS. IAC’s revenue for the quarter was down 15.5% on a year-over-year basis.

IAC Price Performance

NASDAQ IAC opened at $48.18 on Wednesday. IAC has a twelve month low of $43.51 and a twelve month high of $58.29. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.29. The firm’s 50 day moving average price is $52.28 and its two-hundred day moving average price is $50.94.

Analyst Ratings Changes

IAC has been the topic of several recent analyst reports. Truist Financial boosted their target price on IAC from $87.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Benchmark reissued a “buy” rating and set a $110.00 target price on shares of IAC in a report on Tuesday. KeyCorp decreased their price target on shares of IAC from $67.00 to $66.00 and set an “overweight” rating on the stock in a research report on Friday, August 16th. Citigroup decreased their price target on shares of IAC from $70.00 to $66.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, Barclays decreased their price target on shares of IAC from $73.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, IAC presently 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.