Zacks: Brokerages Expect Ascent Capital Group Inc (ASCMA) Will Announce Quarterly Sales of $137.52 Million
Wall Street analysts expect Ascent Capital Group Inc (NASDAQ:ASCMA) to report $137.52 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Ascent Capital Group’s earnings, with the highest sales estimate coming in at $139.28 million and the lowest estimate coming in at $135.76 million. Ascent Capital Group reported sales of $140.68 million in the same quarter last year, which indicates a negative year over year growth rate of 2.2%. The business is scheduled to report its next quarterly 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 business will post 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 analysts that that provide coverage for Ascent Capital Group.
Several equities research analysts have recently issued reports on ASCMA shares. Stifel Nicolaus reissued a “hold” rating and set a $16.00 price objective on shares of Ascent Capital Group in a research report on Friday, November 3rd. Zacks Investment Research raised shares of Ascent Capital Group from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research report on Tuesday, January 2nd. Finally, Imperial Capital raised shares of Ascent Capital Group from an “in-line” rating to an “outperform” rating and lowered their price objective for the stock from $13.50 to $13.00 in a research report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $14.00.
In other news, major shareholder Brigade Leveraged Capital Stru sold 860,000 shares of Ascent Capital Group stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $11.00, for a total value of $9,460,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders sold 865,862 shares of company stock valued at $9,528,273. Insiders own 9.60% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of ASCMA. Zacks Investment Management raised its stake in Ascent Capital Group by 0.8% in the 2nd quarter. Zacks Investment Management now owns 11,691 shares of the industrial products company’s stock worth $180,000 after purchasing an additional 97 shares in the last quarter. Teachers Advisors LLC raised its stake in Ascent Capital Group by 14.2% in the 2nd quarter. Teachers Advisors LLC now owns 23,260 shares of the industrial products company’s stock worth $357,000 after purchasing an additional 2,892 shares in the last quarter. Bank of Nova Scotia acquired a new stake in Ascent Capital Group in the 2nd quarter worth about $538,000. Thrivent Financial For Lutherans raised its stake in Ascent Capital Group by 2.1% in the 2nd quarter. Thrivent Financial For Lutherans now owns 53,710 shares of the industrial products company’s stock worth $825,000 after purchasing an additional 1,090 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Ascent Capital Group by 1.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 56,060 shares of the industrial products company’s stock worth $862,000 after purchasing an additional 687 shares in the last quarter. Institutional investors own 80.70% of the company’s stock.
Shares of Ascent Capital Group (NASDAQ ASCMA) traded up $0.56 during midday trading on Tuesday, reaching $11.83. 72,700 shares of the company traded hands, compared to its average volume of 60,420. The company has a debt-to-equity ratio of 11.96, a current ratio of 1.34 and a quick ratio of 1.34. The firm has a market capitalization of $138.94, a price-to-earnings ratio of -1.31 and a beta of 1.59. Ascent Capital Group has a fifty-two week low of $8.87 and a fifty-two week high of $17.84.
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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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