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

Acacia Research

09/08/2024 24:20

* Acacia Research Corp  ACTG.OQ  reported a quarterly
adjusted
loss of 8 cents​​ per share for the quarter ended in June,
higher than the same quarter last year, when the company
reported EPS of -13 cents.  The lone analyst forecast for the
quarter was for earnings of 8 cents per share. 
    * Revenue rose 226.9% to $25.84 million from a year ago;
analysts
expected $19.75 million. 
    * Acacia Research Corp's reported EPS for the quarter was a
loss
of 8 cents​.
    * The company reported a quarterly loss of $8.45 million.
    * Acacia Research Corp shares had fallen by 4.0% this
quarter and
gained 22.7% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 60% 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 August 8 at
11:20 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
 Jun. 30 2024      0.08           -0.08          Missed
 Mar. 31 2024      0.00           0.28           Beat
 Dec. 31 2023      0.07           0.62           Beat
 Sep. 30 2023      0.12           0.15           Beat