IAC/InterActiveCorp (IAC) Posts Quarterly Earnings Results, Beats Expectations By $0.46 EPS

IAC/InterActiveCorp (NASDAQ:IAC) released its earnings results on Wednesday. The company reported $1.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.46, Briefing.com reports. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.07 billion. IAC/InterActiveCorp had a net margin of 13.09% and a return on equity of 10.24%. The business’s revenue was up 33.3% on a year-over-year basis. During the same quarter last year, the business earned $0.55 EPS.

IAC traded up $0.75 on Thursday, reaching $185.96. 95,680 shares of the company traded hands, compared to its average volume of 818,145. IAC/InterActiveCorp has a one year low of $118.83 and a one year high of $223.54. The firm has a market capitalization of $16.40 billion, a price-to-earnings ratio of 241.96, a PEG ratio of 2.47 and a beta of 1.35. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.78 and a quick ratio of 2.78.

In related news, CFO Glenn Schiffman sold 2,000 shares of IAC/InterActiveCorp stock in a transaction dated Thursday, November 1st. The shares were sold at an average price of $199.05, for a total transaction of $398,100.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 10.90% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA purchased a new position in IAC/InterActiveCorp during the 2nd quarter valued at about $12,722,000. Aperio Group LLC increased its position in IAC/InterActiveCorp by 8.8% during the 2nd quarter. Aperio Group LLC now owns 39,445 shares of the company’s stock valued at $6,015,000 after purchasing an additional 3,186 shares during the period. TD Asset Management Inc. increased its position in IAC/InterActiveCorp by 6.4% during the 2nd quarter. TD Asset Management Inc. now owns 98,934 shares of the company’s stock valued at $15,086,000 after purchasing an additional 5,994 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in IAC/InterActiveCorp by 8.8% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 257,291 shares of the company’s stock valued at $39,234,000 after purchasing an additional 20,817 shares during the period. Finally, First Manhattan Co. increased its position in IAC/InterActiveCorp by 39.1% during the 2nd quarter. First Manhattan Co. now owns 917,744 shares of the company’s stock valued at $139,946,000 after purchasing an additional 258,141 shares during the period. Institutional investors own 86.13% of the company’s stock.

Several research firms have recently issued reports on IAC. BidaskClub lowered shares of IAC/InterActiveCorp from a “buy” rating to a “hold” rating in a report on Thursday. BMO Capital Markets restated a “buy” rating and issued a $216.00 target price on shares of IAC/InterActiveCorp in a report on Friday, July 13th. Citigroup raised their target price on shares of IAC/InterActiveCorp from $200.00 to $248.00 and gave the stock a “reduce” rating in a report on Friday, August 10th. Barclays raised their target price on shares of IAC/InterActiveCorp to $244.00 and gave the stock an “overweight” rating in a report on Friday, August 10th. Finally, Nomura started coverage on shares of IAC/InterActiveCorp in a report on Thursday, October 11th. They set a “buy” rating and a $246.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $211.75.

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About IAC/InterActiveCorp

IAC/InterActiveCorp, together with its subsidiaries, operates as a media and Internet company in the United States and internationally. It operates through Match Group, ANGI Homeservices, Video, Applications, and Publishing segments. The Match Group segment provides subscription dating products, which enable users to establish a profile and review the profiles of other users in 42 languages.

See Also: Exchange-Traded Funds (ETFs)

Earnings History for IAC/InterActiveCorp (NASDAQ:IAC)

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