The Research Analysts Issue Forecasts for IAC/InterActive’s Q3 2016 Earnings (IAC)

The Research Analysts Issue Forecasts for IAC/InterActive’s Q3 2016 Earnings (IAC)

IAC/InterActive (NYSE:IAC) – Investment analysts at SunTrust Banks raised their Q3 2016 earnings per share estimates for shares of IAC/InterActive in a research report issued to clients and investors on Monday. SunTrust Banks analyst R. Peck now forecasts that the firm will post earnings per share of $0.41 for the quarter, up from their prior forecast of $0.40. SunTrust Banks has a “Buy” rating and a $73.00 price target on the stock. SunTrust Banks also issued estimates for IAC/InterActive’s FY2016 earnings at $1.62 EPS and FY2017 earnings at $2.46 EPS.

Other analysts have also issued research reports about the stock. Needham & Company LLC reissued a “buy” rating and issued a $70.00 price target on shares of IAC/InterActive in a research report on Monday, August 1st. Axiom Securities reissued a “buy” rating on shares of IAC/InterActive in a research report on Wednesday, June 22nd. Zacks Investment Research raised shares of IAC/InterActive from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research report on Wednesday, June 29th. Finally, Jefferies Group reaffirmed a “hold” rating and set a $60.00 price objective on shares of IAC/InterActive in a research note on Monday, July 25th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $69.31.

Shares of IAC/InterActive (NYSE:IAC) opened at 62.09 on Wednesday. The company’s 50 day moving average is $60.19 and its 200 day moving average is $55.57. IAC/InterActive has a 52-week low of $38.82 and a 52-week high of $72.94. The firm’s market cap is $4.94 billion.

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

Institutional investors have recently added to or reduced their stakes in the company. American International Group Inc. bought a new position in IAC/InterActive during the second quarter worth approximately $105,000. NCM Capital Advisers Inc. bought a new position in IAC/InterActive during the second quarter worth approximately $126,000. OLD Mutual Customised Solutions Proprietary Ltd. bought a new position in IAC/InterActive during the second quarter worth approximately $135,000. 1832 Asset Management L.P. bought a new position in IAC/InterActive during the second quarter worth approximately $161,000. Finally, Tower Research Capital LLC TRC bought a new position in IAC/InterActive during the second quarter worth approximately $192,000.

IAC/InterActive Company Profile

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