RPX Corporation (NASDAQ:RPXC) Issues Q3 Earnings Guidance
RPX Corporation (NASDAQ:RPXC) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.14-0.18 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.20. The company issued revenue guidance of $79-82 million, compared to the consensus revenue estimate of $83.63 million.RPX Corporation also updated its FY17 guidance to $0.64-76 EPS.
Shares of RPX Corporation (NASDAQ RPXC) traded up 0.16% during trading on Friday, reaching $12.36. 264,085 shares of the company were exchanged. RPX Corporation has a one year low of $8.99 and a one year high of $15.15. The stock has a 50-day moving average price of $13.61 and a 200-day moving average price of $12.72. The stock has a market capitalization of $611.82 million, a PE ratio of 30.82 and a beta of 1.39.
RPX Corporation (NASDAQ:RPXC) last announced its quarterly earnings results on Tuesday, August 1st. The business services provider reported $0.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.05. The business had revenue of $80.40 million during the quarter, compared to analysts’ expectations of $81.27 million. RPX Corporation had a net margin of 6.01% and a return on equity of 5.51%. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.18 EPS. Analysts forecast that RPX Corporation will post $0.72 EPS for the current year.
Several research analysts have commented on RPXC shares. TheStreet upgraded shares of RPX Corporation from a c rating to a b- rating in a report on Tuesday, May 2nd. Zacks Investment Research upgraded shares of RPX Corporation from a hold rating to a buy rating and set a $14.00 price objective for the company in a report on Tuesday. BidaskClub lowered shares of RPX Corporation from a buy rating to a hold rating in a report on Thursday, July 6th. Cowen and Company upped their price objective on shares of RPX Corporation from $11.00 to $14.00 and gave the stock a market perform rating in a report on Wednesday, May 3rd. Finally, Barclays PLC restated a sell rating and issued a $11.00 price objective on shares of RPX Corporation in a report on Friday, May 5th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. RPX Corporation has a consensus rating of Hold and a consensus target price of $13.50.
In related news, CEO Trevor Campion sold 39,256 shares of the stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $13.79, for a total value of $541,340.24. Following the completion of the transaction, the chief executive officer now directly owns 25,571 shares in the company, valued at approximately $352,624.09. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mallun Yen sold 10,000 shares of the stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $12.92, for a total transaction of $129,200.00. Following the completion of the transaction, the insider now owns 157,560 shares of the company’s stock, valued at $2,035,675.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 63,156 shares of company stock valued at $865,322. 3.52% of the stock is owned by company insiders.
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About RPX Corporation
RPX Corporation is engaged in providing an alternative to litigation through its patent risk management services. The Company helps companies reduce patent litigation risk and corporate legal expense through two primary service offerings: patent risk management services and discovery services. It operates through two segments: patent risk management and discovery services.
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