Cowen and Company Reiterates Positive Rating for Acacia Research Corp (ACTG)
Acacia Research Corp (NASDAQ:ACTG)‘s stock had its “positive” rating reiterated by stock analysts at Cowen and Company in a report issued on Thursday, AmericanBankingNews.com reports.
A number of other firms have also recently commented on ACTG. Analysts at Zacks upgraded shares of Acacia Research Corp from an “underperform” rating to a “neutral” rating in a research note on Wednesday, April 23rd. They now have a $17.60 price target on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Acacia Research Corp in a research note on Tuesday, April 22nd. They now have a $20.50 price target on the stock. Finally, analysts at Cantor Fitzgerald initiated coverage on shares of Acacia Research Corp in a research note on Monday, April 21st. They set a “buy” rating on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. Acacia Research Corp presently has a consensus rating of “Hold” and an average target price of $22.02.
Shares of Acacia Research Corp (NASDAQ:ACTG) traded down 1.24% on Thursday, hitting $15.1401. 312,328 shares of the company’s stock traded hands. Acacia Research Corp has a 52-week low of $12.23 and a 52-week high of $25.74. The stock’s 50-day moving average is $16.0 and its 200-day moving average is $14.84. The company’s market cap is $757.9 million.
Acacia Research Corp (NASDAQ:ACTG) last issued its quarterly earnings data on Thursday, April 17th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by $0.36. The company had revenue of $12.58 million for the quarter, compared to the consensus estimate of $238.48 million. During the same quarter in the previous year, the company posted $0.47 earnings per share. The company’s revenue for the quarter was down 83.7% on a year-over-year basis. On average, analysts predict that Acacia Research Corp will post $0.15 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, May 30th. Stockholders of record on Thursday, May 1st will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend is Tuesday, April 29th.
Acacia Research Corporation through its operating subsidiaries, acquires, develops, licenses and enforces patented technologies.
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