Acacia Research Corp reports results for the quarter ended in December - Earnings Summary

Acacia Research

15/03/2024 19:09

* Acacia Research Corp  ACTG.OQ  reported quarterly adjusted
earnings of 62 cents​​ per share for the quarter ended in
December.  The lone analyst forecast for the quarter was
for earnings of 7 cents per share. 
    * Revenue rose 603.5% to $92.31 million from a year ago;
analysts
expected $8.00 million. 
    * Acacia Research Corp's reported EPS for the quarter was 75
cents​.
    * The company reported quarterly net income of $74.76
million.
    * Acacia Research Corp shares had risen by 1.5% this
quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts was unchanged in
the last
three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 1 "strong buy" or "buy," no
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the business
support
services peer group is also "buy"

Wall Street's median 12-month price target for Acacia Research
Corp is $7.00 
This summary was machine generated from LSEG data March 15 at
07:08 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      0.07           0.62           Beat
 Sep. 30 2023      0.12           0.15           Beat
 Jun. 30 2023      0.01           -0.13          Missed
 Mar. 31 2023      -0.02          0.15           Beat