Acacia Research (NASDAQ:ACTG) Announces Quarterly Earnings Results

Acacia Research (NASDAQ:ACTG) announced its earnings results on Thursday. The business services provider reported $0.06 earnings per share for the quarter, Zacks reports. The firm had revenue of $24.32 million during the quarter. Acacia Research had a net margin of 48.92% and a return on equity of 11.47%.

Acacia Research Price Performance

Shares of Acacia Research stock traded down $0.17 during midday trading on Friday, hitting $5.01. 452,314 shares of the company were exchanged, compared to its average volume of 211,966. The firm has a market cap of $501.11 million, a P/E ratio of 16.24 and a beta of 0.50. The firm has a 50 day simple moving average of $4.86 and a 200-day simple moving average of $4.21. The company has a debt-to-equity ratio of 0.02, a current ratio of 20.07 and a quick ratio of 19.67. Acacia Research has a 52 week low of $3.43 and a 52 week high of $5.47.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Craig Hallum lifted their price objective on shares of Acacia Research from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Friday, March 15th. StockNews.com upgraded shares of Acacia Research from a “sell” rating to a “hold” rating in a research report on Monday, March 18th.

Acacia Research Company Profile

Acacia Research Corporation, together with its subsidiaries, invests in intellectual property and related absolute return assets; and engages in the licensing and enforcement of patented technologies. The company operates through three segments, Intellectual Property Operations, Industrial Operations, and Energy Operations.