IAC/InterActive to Post Q3 2016 Earnings of $0.41 Per Share, SunTrust Banks Forecasts (IAC)
IAC/InterActive (NYSE:IAC) – Investment analysts at SunTrust Banks upped their Q3 2016 earnings per share estimates for shares of IAC/InterActive in a report issued 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 previous estimate of $0.40. SunTrust Banks has a “Buy” rating and a $73.00 price objective 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.
IAC/InterActive (NYSE:IAC) last released its earnings results on Wednesday, July 27th. The company reported $0.42 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 analyst estimates of $748.73 million. During the same quarter in the prior year, the firm earned $0.85 EPS. IAC/InterActive’s quarterly revenue was down 3.3% on a year-over-year basis.
A number of other brokerages have also recently issued reports on IAC. Zacks Investment Research cut shares of IAC/InterActive from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 28th. JPMorgan Chase & Co. started coverage on shares of IAC/InterActive in a research report on Tuesday. They set an “overweight” rating and a $78.00 target price for the company. Axiom Securities reiterated a “buy” rating and set a $80.00 target price (up previously from $74.00) on shares of IAC/InterActive in a research report on Friday, October 7th. Susquehanna reiterated a “positive” rating and set a $74.00 target price on shares of IAC/InterActive in a research report on Monday, August 8th. Finally, Jefferies Group reiterated a “hold” rating and set a $60.00 target price on shares of IAC/InterActive in a research report on Monday, July 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $69.06.
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IAC/InterActive (NYSE:IAC) traded down 0.02% during mid-day trading on Wednesday, hitting $61.99. 203,887 shares of the company were exchanged. The company has a 50 day moving average of $60.05 and a 200 day moving average of $55.52. The stock’s market cap is $4.93 billion. IAC/InterActive has a 12-month low of $38.82 and a 12-month high of $72.94.
Several hedge funds and other institutional investors have recently modified their holdings of IAC. American International Group Inc. acquired a new position in shares of IAC/InterActive during the second quarter valued at about $105,000. NCM Capital Advisers Inc. acquired a new position in shares of IAC/InterActive during the second quarter valued at about $126,000. OLD Mutual Customised Solutions Proprietary Ltd. acquired a new position in shares of IAC/InterActive during the second quarter valued at about $135,000. 1832 Asset Management L.P. acquired a new position in shares of IAC/InterActive during the second quarter valued at about $161,000. Finally, Tower Research Capital LLC TRC acquired a new position in shares of IAC/InterActive during the second quarter valued at about $192,000.
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