Acacia Research Corp reports results for the quarter ended March 31 - Earnings Summary

• Acacia Research Corp ACTG.OQ reported quarterly adjusted earnings of 25 cents​​ per share for the quarter ended March 31, lower than the same quarter last year, when the company reported EPS of 28 cents. The lone analyst forecast for the quarter was for a loss of 6 cents per share.

• Revenue rose 411.6% to $124.42 million from a year ago; analysts expected $55.00 million.

• Acacia Research Corp's reported EPS for the quarter was 25 cents​.

• The company reported quarterly net income of $24.29 million.

• Acacia Research Corp shares had fallen by 4.1% this quarter and lost 29.3% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 100% 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 $6.00

This summary was machine generated from LSEG data May 8 at 02:20 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)