Skip to Content

Brokers Forecast IAC Inc. Earnings for FY2022 (NASDAQ:IAC)

Brokers Forecast IAC Inc. Earnings for FY2022 (NASDAQ:IAC)

IAC, Inc. (NASDAQ: IAC) and Jefferies Financial Group’s equity research analysts provided an estimate of IAC’s earnings per share for the fiscal year 2022 in a study that was made available to the public on Monday, January 9. According to projections by B. Thill of Jefferies Financial Group, each share of the company’s common stock will bring in $14.10 in revenue during this year. The most recent estimate that IAC has provided for its full-year earnings per share comes in at a loss of $14.16. IAC is expected to generate earnings of $0.62 in the first quarter of 2023, $0.45 in the second quarter, $0.33 in the third quarter, $0.15 in the fourth quarter, $1.56 in the full year 2023, and $0.17 in the full year 2024, according to projections made by Jefferies Financial Group.

IAC stock was listed for trading for the first time on Thursday for $50.95 per share. It is estimated that this company is worth $4.23 billion, has a price-to-earnings ratio of -3.84, and a beta value of 0.98. The ratio of debt to equity, the current ratio, and the quick ratio all have the same value, which comes in at 0.31, 2.29, and 2.29, respectively. During the past year, IAC experienced a new all-time low of $41.52 and a new all-time high of $139.59. The stock currently has a simple moving average of $47.02 over the past 50 days, and its simple moving average over the past 200 days is $58.48.

IAC has, as of late, been the focus of commentary from several newly established brokerages. I was the subject of a report released by the UBS Group on Friday, December 2, in which they assumed coverage. They recommended a “sell” price of $46,000 for the company’s stock and graded it as a “sell,” respectively. Citigroup published a report on Tuesday, December 13, discussing IAC for the first time. They designated the stock as having a “buy” rating and decided to set a price objective of $60.00. In a research report published on November 9, Piper Jaffray lowered their “overweight” rating for IAC to “equal weight,” They also lowered their price objective for the stock from $100.00 to $67.00.00. Both of these changes were made. Cowen stated that they would be decreasing their target price on IAC shares from $120.00 to $80.00, and the announcement was made public in a research report published on November 7. The target price that KeyCorp has established for IAC shares has decreased from $100.00 to $60.00 due to a research report published on November 8. This was the final price reduction, but certainly not the least significant one. Nine equity research professionals have provided a buy recommendation for the stock, while two of the same analysts have provided a sell recommendation. According to the information made available by Bloomberg, the stock is currently rated as having a consensus “Moderate Buy” rating and a consensus target price of $91.50. A consensus of market analysts determined this rating and price target.

Hedge funds have been very active in stock transactions involving the company, buying and selling shares. In the third quarter, DAVENPORT & CO. LLC increased its investment in IAC by approximately $700,000 more than it had in the previous quarter. During the second quarter of this year, Wahed Invest LLC made an investment of approximately $63,000 in a new venture being undertaken by IAC. During the second quarter, Russell Investments Group Ltd. made a new investment that totaled approximately $2,044,000 in IAC. Zurcher Kantonalbank is the name of a Swiss financial institution. During the second quarter, Zurich Cantonalbank purchased a new position in IAC, estimated to be worth nearly 809,000 dollars. The percentage of IAC stock that Asset Management One Co. Ltd. owns increased by 4.0 percent during the second quarter of this year. This was done so the company would not be outdone by its competitors. Asset Management One Co. Ltd. now has a total of 36,841 shares of the company’s stock, which has a value of $2,798,000 after purchasing an additional 1,417 shares during the most recent period. This brings the total number of shares owned by the company to 36,841. At this time, institutional investors such as hedge funds and other types of institutional investors own 89.08% of the company’s common stock.

IAC Director Michael D. Eisner made a purchase of 73,641 shares of IAC stock on November 22. This was another one of the developments made by the IAC. The number of shares was acquired for a total cost of $3,444,925.98, which results in an average price of $46.78 per share purchased. Following the successful transaction, the director has direct ownership of 124,484 company shares, which have an approximate value of 5,823,361.52 dollars. You might find a filing that explains the transaction in greater detail on the Securities and Exchange Commission (SEC) website. The employees and management of the company own a combined total of 13.30% of the total shares issued by the company.

Tags

Leave a comment

Your email address will not be published. Required fields are marked *