SunTrust Banks Weighs in on IAC/InterActive’s Q4 2016 Earnings (IAC)
IAC/InterActive (NYSE:IAC) – Research analysts at SunTrust Banks decreased their Q4 2016 earnings per share 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 previous estimate of $0.82.
IAC/InterActive (NYSE:IAC) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by $0.08. The company had revenue of $745.40 million for the quarter, compared to the consensus estimate of $748.73 million. During the same period in the prior year, the business posted $0.85 earnings per share. IAC/InterActive’s revenue for the quarter was down 3.3% compared to the same quarter last year.
A number of other equities research analysts also recently issued reports on the stock. JPMorgan Chase & Co. began coverage on shares of IAC/InterActive in a research note on Tuesday. They set an “overweight” rating and a $78.00 price target on the stock. Axiom Securities reaffirmed a “buy” rating and set a $80.00 price target (up previously from $74.00) on shares of IAC/InterActive in a research note on Friday. Zacks Investment Research cut shares of IAC/InterActive from a “hold” rating to a “strong sell” rating in a research report on Wednesday, September 28th. Wells Fargo & Co. upgraded shares of IAC/InterActive from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 20th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $75.00 price objective on shares of IAC/InterActive in a research report on Tuesday, August 23rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. IAC/InterActive presently has an average rating of “Buy” and an average price target of $68.06.
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Shares of IAC/InterActive (NYSE:IAC) traded down 1.22% on Tuesday, reaching $61.64. 235,364 shares of the company were exchanged. The company’s 50-day moving average is $59.93 and its 200-day moving average is $55.47. The company’s market capitalization is $4.91 billion. IAC/InterActive has a 52 week low of $38.82 and a 52 week high of $73.15.
A number of hedge funds have recently added to or reduced their stakes in IAC. American International Group Inc. acquired a new stake in IAC/InterActive during the second quarter worth $105,000. NCM Capital Advisers Inc. acquired a new stake in IAC/InterActive during the second quarter worth $126,000. OLD Mutual Customised Solutions Proprietary Ltd. acquired a new stake in IAC/InterActive during the second quarter worth $135,000. 1832 Asset Management L.P. acquired a new stake in IAC/InterActive during the second quarter worth $161,000. Finally, Tower Research Capital LLC TRC acquired a new stake in IAC/InterActive during the second quarter worth $192,000.
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