The Q4 2016 Earnings Forecast for IAC/InterActive Issued By SunTrust Banks (IAC)

The Q4 2016 Earnings Forecast for IAC/InterActive Issued By SunTrust Banks (IAC)

IAC/InterActive (NYSE:IAC) – Equities research analysts at SunTrust Banks dropped their Q4 2016 earnings per share (EPS) estimates for shares of IAC/InterActive in a research report issued on Monday. SunTrust Banks analyst R. Peck now expects that the firm will earn $0.81 per share for the quarter, down from their prior estimate of $0.82.

IAC/InterActive (NYSE:IAC) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by $0.08. The business had revenue of $745.40 million for the quarter, compared to the consensus estimate of $748.73 million. During the same period last year, the business earned $0.85 EPS. IAC/InterActive’s revenue for the quarter was down 3.3% on a year-over-year basis.

IAC has been the subject of a number of other research reports. Zacks Investment Research downgraded shares of IAC/InterActive from a “buy” rating to a “hold” rating in a report on Wednesday, July 6th. JPMorgan Chase & Co. began coverage on shares of IAC/InterActive in a report on Tuesday. They issued an “overweight” rating and a $78.00 price objective for the company. Wells Fargo & Co. raised shares of IAC/InterActive from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 20th. Jefferies Group reissued a “hold” rating and issued a $60.00 price objective on shares of IAC/InterActive in a report on Monday, June 27th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $70.00 price objective on shares of IAC/InterActive in a report on Monday, August 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $68.06.

Shares of IAC/InterActive (NYSE:IAC) opened at 62.00 on Tuesday. The company’s market capitalization is $4.93 billion. The firm’s 50-day moving average is $60.05 and its 200-day moving average is $55.52. IAC/InterActive has a 12-month low of $38.82 and a 12-month high of $72.94.

A number of institutional investors have recently added to or reduced their stakes in IAC. Vanguard Group Inc. bought a new position in IAC/InterActive during the second quarter worth about $301,777,000. Boston Partners bought a new position in IAC/InterActive during the second quarter worth about $230,954,000. Artisan Partners Limited Partnership bought a new position in IAC/InterActive during the second quarter worth about $123,187,000. BlackRock Institutional Trust Company N.A. bought a new position in IAC/InterActive during the second quarter worth about $114,075,000. Finally, Luxor Capital Group LP bought a new position in IAC/InterActive during the second quarter worth about $113,704,000.

About IAC/InterActive

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