Zacks: Brokerages Expect Ascent Capital Group Inc (ASCMA) Will Announce Earnings of -$2.22 Per Share

Analysts expect that Ascent Capital Group Inc (NASDAQ:ASCMA) will announce ($2.22) earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Ascent Capital Group’s earnings, with the highest EPS estimate coming in at ($2.15) and the lowest estimate coming in at ($2.29). Ascent Capital Group reported earnings of ($1.51) per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 47%. The firm is expected to announce its next earnings report on Tuesday, February 27th.

According to Zacks, analysts expect that Ascent Capital Group will report full-year earnings of ($9.73) per share for the current year, with EPS estimates ranging from ($9.78) to ($9.67). For the next financial year, analysts anticipate that the business will report earnings of ($8.72) per share, with EPS estimates ranging from ($8.75) to ($8.69). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Ascent Capital Group.

A number of research analysts recently commented on the company. ValuEngine cut Ascent Capital Group from a “sell” rating to a “strong sell” rating in a research report on Monday, February 5th. Stifel Nicolaus restated a “hold” rating and issued a $16.00 price target on shares of Ascent Capital Group in a research report on Friday, November 3rd. 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 report on Friday, November 3rd. Finally, Zacks Investment Research cut Ascent Capital Group from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. One research 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 stock currently has an average rating of “Hold” and an average price target of $14.00.

In other Ascent Capital Group news, major shareholder Brigade Leveraged Capital Stru sold 860,000 shares of Ascent Capital Group stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $11.00, for a total value of $9,460,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last quarter, insiders sold 865,862 shares of company stock worth $9,528,273. Company insiders own 9.60% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in ASCMA. Schwab Charles Investment Management Inc. grew its position in Ascent Capital Group by 103.2% in 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 acquiring an additional 44,153 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of 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 in the last quarter. Teachers Advisors LLC boosted its stake in shares of 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 in the last quarter. Northern Trust Corp boosted its stake in shares of 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 in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Ascent Capital Group by 1.3% during the second quarter. Renaissance Technologies LLC now owns 914,700 shares of the industrial products company’s stock valued at $14,050,000 after purchasing an additional 11,500 shares in the last quarter. Hedge funds and other institutional investors own 81.23% of the company’s stock.

Shares of Ascent Capital Group (NASDAQ:ASCMA) traded down $0.04 during midday trading on Friday, hitting $6.82. The company had a trading volume of 47,941 shares, compared to its average volume of 51,098. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 11.96. Ascent Capital Group has a 52 week low of $6.56 and a 52 week high of $17.84. The company has a market capitalization of $84.57, a PE ratio of -0.76 and a beta of 1.37.

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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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