For the first quarter Acacia Research posted a loss of 11 cents a share, missing analysts' estimates of earnings of 5 cents a share by 16 cents. Revenue fell 83.6% to $12.58 million in the quarter. Analysts surveyed by Thomson Reuters expected revenue of $16.53 for the quarter.
In addition to its quarterly results Acacia Research declared a quarterly dividend of 12.5 cents a share, in line with its previous dividend. The dividend is payable on May 30 to all shareholders of record at the close of business on May 1.
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TheStreet Ratings team rates ACACIA RESEARCH CORP as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate ACACIA RESEARCH CORP (ACTG) a SELL. This is driven by multiple weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, weak operating cash flow, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share."