Acacia Res-Acacia Up 10.55% To $4.40 After Earnings Beat

Acacia Research Corp (ACTG) surpassed earnings projections on 3/14/2024 for Q4 2023.

The consensus among analysts for Acacia Res-Acacia was for an earnings per share (EPS) of $0.07. The firm was able to surpass those projections, reporting an EPS of $0.75, a positive surprise of $0.68 (971%). Profits rose 250% year-over-year after reporting an EPS loss of $0.50 per share in its year-ago quarter. The positive growth rate signals that the Industrials company is performing well amid recent economic conditions.

Revenues were upbeat at $92.3 million. That revenue figure is an increase of 603.54% from the year ago quarter.

The stock is up 10.55% to $4.40 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Trading in the five days leading up to the report earned Acacia Res-Acacia a Bearish Sentiment Rank from InvestorsObserver.

Acacia Res-Acacia has performed a little below average during the past few months. Before the report, Acacia Res-Acacia received a Long-Term Technical Rank by InvestorsObserver of 39, putting it in the bottom half of stocks. The firm set a 52-week low on October 19, 2023 at $3.43 and set a 52-week high on June 6, 2023 at $4.66.

Acacia Research Corp is engaged in the acquisition, development, and patents technologies through its subsidiaries. It assists patent owners with the prosecution and development of their patent portfolios; protection of their patented inventions from unauthorized use; generation of licensing revenue from users of their patented technologies; and enforcement against unauthorized users of their patented technologies.