Q2 2022 EPS Estimates for IAC/InterActiveCorp Cut by Analyst (NASDAQ:IAC)

IAC/InterActiveCorp (NASDAQ:IAC – Get Rating) – Research analysts at Wedbush reduced their Q2 2022 earnings per share estimates for IAC/InterActiveCorp in a report released on Tuesday, May 10th. Wedbush analyst Y. Arounian now anticipates that the company will post earnings of ($0.70) per share for the quarter, down from their prior forecast of ($0.51). Wedbush also issued estimates for IAC/InterActiveCorp’s Q3 2022 earnings at ($0.03) EPS, Q4 2022 earnings at $0.11 EPS, Q1 2023 earnings at ($0.30) EPS, Q2 2023 earnings at ($0.25) EPS, Q3 2023 earnings at $0.51 EPS, Q4 2023 earnings at $0.79 EPS and FY2023 earnings at $0.75 EPS.

A number of other analysts also recently issued reports on the company. Cowen lowered their target price on IAC/InterActiveCorp from $180.00 to $150.00 in a research report on Wednesday. KeyCorp lowered their price target on IAC/InterActiveCorp from $190.00 to $165.00 and set an “overweight” rating on the stock in a research report on Monday, April 11th. Barclays lowered their price target on IAC/InterActiveCorp from $160.00 to $130.00 in a research report on Wednesday. Zacks Investment Research downgraded IAC/InterActiveCorp from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, Credit Suisse Group lowered their price target on IAC/InterActiveCorp from $167.00 to $127.00 in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $147.20.

NASDAQ:IAC opened at $76.84 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.23 and a current ratio of 2.23. The stock’s 50-day simple moving average is $94.97 and its 200 day simple moving average is $118.16. The company has a market cap of $6.46 billion, a P/E ratio of 512.30 and a beta of 1.34. IAC/InterActiveCorp has a 52-week low of $72.29 and a 52-week high of $179.12.

IAC/InterActiveCorp (NASDAQ:IAC – Get Rating) last released its earnings results on Tuesday, February 15th. The company reported ($0.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.37). The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $949.76 million. IAC/InterActiveCorp had a net margin of 0.91% and a negative return on equity of 1.16%.

Several hedge funds have recently added to or reduced their stakes in IAC. ShawSpring Partners LLC increased its stake in shares of IAC/InterActiveCorp by 53.3% during the 3rd quarter. ShawSpring Partners LLC now owns 2,906,872 shares of the company’s stock worth $378,736,000 after purchasing an additional 1,010,157 shares during the last quarter. Norges Bank bought a new stake in shares of IAC/InterActiveCorp during the 4th quarter worth $94,008,000. JPMorgan Chase & Co. lifted its holdings in shares of IAC/InterActiveCorp by 29.9% during the 1st quarter. JPMorgan Chase & Co. now owns 3,016,172 shares of the company’s stock worth $302,462,000 after acquiring an additional 694,197 shares during the last quarter. First Manhattan Co. boosted its position in IAC/InterActiveCorp by 23.1% during the third quarter. First Manhattan Co. now owns 3,691,090 shares of the company’s stock valued at $480,912,000 after buying an additional 691,835 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new stake in IAC/InterActiveCorp during the fourth quarter valued at about $70,705,000. 96.44% of the stock is currently owned by institutional investors.

About IAC/InterActiveCorp (Get Rating)

IAC/InterActiveCorp 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.

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