Acacia Research Corp Given Average Rating of “Hold” by Brokerages (NASDAQ:ACTG)
Shares of Acacia Research Corp (NASDAQ:ACTG) have been given an average recommendation of “Hold” by the nine ratings firms that are presently covering the company, Stock Ratings News reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $22.17.
Shares of Acacia Research Corp (NASDAQ:ACTG) opened at 17.26 on Thursday. Acacia Research Corp has a 1-year low of $12.23 and a 1-year high of $23.87. The stock’s 50-day moving average is $16.58 and its 200-day moving average is $15.89. The company’s market cap is $864.8 million.
Acacia Research Corp (NASDAQ:ACTG) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.16 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.06 by $0.10. The company had revenue of $50.07 million for the quarter, compared to the consensus estimate of $15.13 million. During the same quarter in the previous year, the company posted $0.06 earnings per share. The company’s revenue for the quarter was up 116.8% on a year-over-year basis. Analysts expect that Acacia Research Corp will post $0.18 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Sunday, August 31st. Investors of record on Monday, August 4th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.90%. The ex-dividend date is Thursday, July 31st.
A number of analysts have recently weighed in on ACTG shares. Analysts at Zacks upgraded shares of Acacia Research Corp from an “underperform” rating to a “neutral” rating in a research note on Wednesday. They now have a $17.50 price target on the stock. Separately, analysts at Barclays raised their price target on shares of Acacia Research Corp from $15.00 to $19.00 in a research note on Tuesday, July 29th. They now have an “equal weight” rating on the stock. Finally, analysts at Robert W. Baird raised their price target on shares of Acacia Research Corp from $15.00 to $19.00 in a research note on Tuesday, July 29th. They now have an “equal weight” rating on the stock.
Acacia Research Corporation through its operating subsidiaries, acquires, develops, licenses and enforces patented technologies.