Acacia Research (ACTG) Issues Earnings Results, Misses Estimates By $2.07 EPS
Acacia Research (NASDAQ:ACTG) posted its earnings results on Tuesday. The business services provider reported ($2.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($2.07), Bloomberg Earnings reports. Acacia Research had a net margin of 145.12% and a return on equity of 50.75%.
Acacia Research (NASDAQ ACTG) opened at $3.60 on Wednesday. The firm has a market cap of $182.18, a PE ratio of 1.22 and a beta of 1.10. Acacia Research has a 1 year low of $2.90 and a 1 year high of $6.30.
ACTG has been the subject of a number of analyst reports. TheStreet upgraded shares of Acacia Research from a “d” rating to a “c-” rating in a research report on Thursday, October 26th. ValuEngine upgraded shares of Acacia Research from a “hold” rating to a “buy” rating in a research report on Tuesday, October 31st. Barclays reiterated a “sell” rating and issued a $5.00 price objective on shares of Acacia Research in a research report on Tuesday, October 31st. Finally, Zacks Investment Research downgraded shares of Acacia Research from a “hold” rating to a “sell” rating in a research report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. Acacia Research currently has a consensus rating of “Hold” and a consensus price target of $6.50.
About Acacia Research
Acacia Research Corporation, through its subsidiaries, invests in, licenses and enforces patented technologies. The Company’s operating subsidiaries partner with inventors and patent owners, applying their legal and technology expertise to patent assets to unlock the financial value in their patented inventions.
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