IAC/InterActiveCorp Now Covered by Maxim Group (IACI)
Stock analysts at Maxim Group assumed coverage on shares of IAC/InterActiveCorp (NASDAQ:IACI) in a report released on Thursday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $85.00 price target on the stock. Maxim Group’s target price would indicate a potential upside of 31.23% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Credit Suisse reiterated an “outperform” rating on shares of IAC/InterActiveCorp in a research note on Thursday, July 31st. They now have a $75.00 price target on the stock, down previously from $76.00. Separately, analysts at Benchmark Co. raised their price target on shares of IAC/InterActiveCorp from $77.00 to $80.00 in a research note on Thursday, July 31st. They now have a “buy” rating on the stock. Finally, analysts at Canaccord Genuity raised their price target on shares of IAC/InterActiveCorp from $62.00 to $67.00 in a research note on Thursday, July 31st. They now have a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $75.75.
Shares of IAC/InterActiveCorp (NASDAQ:IACI) opened at 65.50 on Thursday. IAC/InterActiveCorp has a 1-year low of $49.03 and a 1-year high of $80.64. The stock’s 50-day moving average is $66. and its 200-day moving average is $68.58. The company has a market cap of $5.462 billion and a P/E ratio of 29.53. IAC/InterActiveCorp also was the recipient of a large growth in short interest in July. As of July 31st, there was short interest totalling 4,054,465 shares, a growth of 66.7% from the July 15th total of 2,432,346 shares. Approximately 5.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,577,790 shares, the days-to-cover ratio is presently 2.6 days.
IAC/InterActiveCorp (NASDAQ:IACI) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.04 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.81 by $0.77. The company had revenue of $756.30 million for the quarter, compared to the consensus estimate of $794.40 million. During the same quarter in the prior year, the company posted $0.95 earnings per share. The company’s quarterly revenue was down 4.3% on a year-over-year basis. Analysts expect that IAC/InterActiveCorp will post $2.17 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 1st. Stockholders of record on Friday, August 15th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend is Wednesday, August 13th. This is a boost from IAC/InterActiveCorp’s previous quarterly dividend of $0.24.
In other IAC/InterActiveCorp news, Director Bryan Lourd unloaded 7,785 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $66.50, for a total value of $517,702.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
IAC/InterActiveCorp (NASDAQ:IACI) is a media and Internet company.
Receive News & Ratings for IAC/InterActiveCorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IAC/InterActiveCorp and related companies with Analyst Ratings Network's FREE daily email newsletter.