Acacia Research Corp Given Consensus Rating of “Hold” by Analysts (NASDAQ:ACTG)
Acacia Research Corp (NASDAQ:ACTG) has earned an average rating of “Hold” from the nine analysts that are presently covering the stock, AnalystRatingsNetwork.com reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $22.17.
ACTG has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of Acacia Research Corp from an “underperform” rating to a “neutral” rating in a research note on Wednesday, August 20th. 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 Corp (NASDAQ:ACTG) opened at 17.26 on Thursday. Acacia Research Corp has a 52-week low of $12.23 and a 52-week high of $23.87. The stock has a 50-day moving average of $16.53 and a 200-day moving average of $15.93. The company’s market cap is $864.8 million.
Acacia Research Corp (NASDAQ:ACTG) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.16 EPS for the quarter, beating the 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 declared a quarterly dividend, which is scheduled for Sunday, August 31st. Stockholders of record on Monday, August 4th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend is Thursday, July 31st.
Acacia Research Corporation through its operating subsidiaries, acquires, develops, licenses and enforces patented technologies.
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