Ascent Capital Group, Inc. (ASCMA) Expected to Post Quarterly Sales of $139.38 Million
Wall Street analysts expect Ascent Capital Group, Inc. (NASDAQ:ASCMA) to post $139.38 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Ascent Capital Group’s earnings, with the highest sales estimate coming in at $139.91 million and the lowest estimate coming in at $138.84 million. Ascent Capital Group reported sales of $142.77 million in the same quarter last year, which indicates a negative year over year growth rate of 2.4%. The firm is scheduled to announce its next earnings report on Monday, November 6th.
On average, analysts expect that Ascent Capital Group will report full year sales of $139.38 million for the current year, with estimates ranging from $558.77 million to $565.20 million. For the next year, analysts expect that the business will report sales of $556.91 million per share, with estimates ranging from $551.56 million to $562.25 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Ascent Capital Group.
Ascent Capital Group (NASDAQ:ASCMA) last issued its quarterly earnings data on Wednesday, August 9th. The industrial products company reported ($3.58) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.90) by ($1.68). Ascent Capital Group had a negative return on equity of 46.93% and a negative net margin of 19.15%. The firm had revenue of $140.50 million during the quarter, compared to the consensus estimate of $142.68 million.
A number of brokerages have weighed in on ASCMA. Zacks Investment Research upgraded Ascent Capital Group from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. ValuEngine lowered Ascent Capital Group from a “sell” rating to a “strong sell” rating in a report on Monday, August 7th. Piper Jaffray Companies set a $14.00 price target on Ascent Capital Group and gave the stock a “hold” rating in a report on Thursday, August 10th. Finally, Imperial Capital lifted their price target on Ascent Capital Group from $15.00 to $17.00 and gave the stock an “outperform” rating in a report on Thursday, July 6th.
Shares of Ascent Capital Group (NASDAQ ASCMA) traded down 0.64% during mid-day trading on Wednesday, hitting $10.91. 6,719 shares of the company were exchanged. The company has a 50 day moving average of $11.69 and a 200 day moving average of $13.84. Ascent Capital Group has a 52 week low of $8.87 and a 52 week high of $24.75. The company’s market capitalization is $132.75 million.
In other Ascent Capital Group news, major shareholder Okumus Fund Management Ltd. sold 2,000 shares of Ascent Capital Group stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $17.11, for a total value of $34,220.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Opportunistic Value Fun Okumus sold 6,600 shares of Ascent Capital Group stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $17.13, for a total value of $113,058.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 158,600 shares of company stock worth $2,697,278. 8.65% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in shares of Ascent Capital Group during the first quarter worth about $123,000. Cigna Investments Inc. New acquired a new position in shares of Ascent Capital Group during the second quarter worth about $159,000. Zacks Investment Management grew its position in shares of Ascent Capital Group by 0.8% during the second quarter. Zacks Investment Management now owns 11,691 shares of the industrial products company’s stock worth $180,000 after buying an additional 97 shares in the last quarter. First Quadrant L P CA acquired a new position in shares of Ascent Capital Group during the second quarter worth about $270,000. Finally, Teachers Advisors LLC grew its position in shares of Ascent Capital Group by 21.7% during the fourth quarter. Teachers Advisors LLC now owns 21,381 shares of the industrial products company’s stock worth $348,000 after buying an additional 3,808 shares in the last quarter. 82.23% of the stock is owned by institutional investors.
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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