Brokerages Expect Ascent Capital Group Inc (ASCMA) Will Post Quarterly Sales of $137.52 Million

Equities research analysts expect Ascent Capital Group Inc (NASDAQ:ASCMA) to report $137.52 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Ascent Capital Group’s earnings. The lowest sales estimate is $135.76 million and the highest is $139.28 million. Ascent Capital Group posted sales of $140.68 million during the same quarter last year, which suggests a negative year over year growth rate of 2.2%. The firm is expected to report its next earnings results on Tuesday, February 27th.

On average, analysts expect that Ascent Capital Group will report full-year sales of $137.52 million for the current fiscal year, with estimates ranging from $555.70 million to $559.19 million. For the next fiscal year, analysts forecast that the company will report sales of $549.92 million per share, with estimates ranging from $539.31 million to $560.53 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Ascent Capital Group.

Ascent Capital Group (NASDAQ:ASCMA) last announced its quarterly earnings data on Thursday, November 2nd. The industrial products company reported ($2.39) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($2.30) by ($0.09). Ascent Capital Group had a negative net margin of 19.68% and a negative return on equity of 56.10%. The company had revenue of $138.21 million for the quarter, compared to analysts’ expectations of $139.38 million.

Several research analysts have recently weighed in on ASCMA shares. Zacks Investment Research upgraded Ascent Capital Group from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research note on Tuesday, January 2nd. Stifel Nicolaus restated a “hold” rating and issued a $16.00 price target on shares of Ascent Capital Group in a research note on Friday, November 3rd. Finally, Imperial Capital upgraded Ascent Capital Group from an “in-line” rating to an “outperform” rating and decreased their price target for the stock from $13.50 to $13.00 in a research note on Friday, November 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $14.00.

In related news, major shareholder Brigade Leveraged Capital Stru sold 860,000 shares of Ascent Capital Group stock in a transaction on Monday, December 11th. The stock was sold at an average price of $11.00, for a total value of $9,460,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 865,862 shares of company stock valued at $9,528,273 in the last ninety days. 9.60% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. grew its holdings in Ascent Capital Group by 103.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 86,938 shares of the industrial products company’s stock valued at $1,336,000 after purchasing an additional 44,153 shares during the period. Bank of New York Mellon Corp grew its holdings in Ascent Capital Group by 1.2% during the second quarter. Bank of New York Mellon Corp now owns 56,060 shares of the industrial products company’s stock valued at $862,000 after purchasing an additional 687 shares during the period. Teachers Advisors LLC grew its holdings in Ascent Capital Group by 14.2% during the second quarter. Teachers Advisors LLC now owns 23,260 shares of the industrial products company’s stock valued at $357,000 after purchasing an additional 2,892 shares during the period. Thrivent Financial For Lutherans grew its holdings in Ascent Capital Group by 2.1% during the second quarter. Thrivent Financial For Lutherans now owns 53,710 shares of the industrial products company’s stock valued at $825,000 after purchasing an additional 1,090 shares during the period. Finally, Northern Trust Corp grew its holdings in Ascent Capital Group by 17.5% during the second quarter. Northern Trust Corp now owns 133,414 shares of the industrial products company’s stock valued at $2,049,000 after purchasing an additional 19,918 shares during the period. 80.69% of the stock is owned by institutional investors.

Ascent Capital Group (ASCMA) opened at $10.47 on Friday. Ascent Capital Group has a one year low of $8.87 and a one year high of $17.84. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 11.96. The firm has a market capitalization of $130.68, a price-to-earnings ratio of -1.16 and a beta of 1.59.

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About Ascent Capital Group

Ascent Capital Group, Inc is a holding company. The Company’s subsidiaries include Monitronics International, Inc (MONI) and LiveWatch Security, LLC (LiveWatch). The Company’s segments include MONI, LiveWatch and Other Activities. The MONI segment is primarily engaged in the business of providing security alarm monitoring services: monitoring signals arising from burglaries, fires, medical alerts and other events through security systems at subscribers’ premises, as well as providing customer service and technical support.

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