Wall Street brokerages expect Ascent Capital Group, Inc. (NASDAQ:ASCMA) to report sales of $139.38 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Ascent Capital Group’s earnings, with the lowest sales estimate coming in at $138.84 million and the highest estimate coming in at $139.91 million. Ascent Capital Group posted sales of $142.77 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 2.4%. The firm is expected to issue its next earnings results after the market closes on Thursday, November 2nd.
According to Zacks, analysts expect that Ascent Capital Group will report full-year sales of $139.38 million for the current fiscal year, with estimates ranging from $558.77 million to $560.88 million. For the next year, analysts forecast that the business will post sales of $556.91 million per share, with estimates ranging from $551.56 million to $562.25 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Ascent Capital Group.
Ascent Capital Group (NASDAQ:ASCMA) last announced its quarterly earnings results on Wednesday, August 9th. The industrial products company reported ($3.58) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.90) by ($1.68). The company had revenue of $140.50 million during the quarter, compared to analyst estimates of $142.68 million. Ascent Capital Group had a negative net margin of 19.15% and a negative return on equity of 46.93%.
ASCMA has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Ascent Capital Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 11th. ValuEngine raised shares of Ascent Capital Group from a “strong sell” rating to a “sell” rating in a report on Friday, September 1st. Imperial Capital downgraded shares of Ascent Capital Group from an “outperform” rating to an “in-line” rating and decreased their price objective for the stock from $17.00 to $13.50 in a report on Friday, August 11th. Finally, Piper Jaffray Companies set a $14.00 price objective on shares of Ascent Capital Group and gave the stock a “hold” rating in a report on Thursday, August 10th.
In other Ascent Capital Group news, Director Michael J. Pohl sold 2,500 shares of the stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $11.93, for a total value of $29,825.00. Following the completion of the sale, the director now directly owns 17,927 shares of the company’s stock, valued at approximately $213,869.11. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 9.60% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the business. SG Americas Securities LLC bought a new stake in Ascent Capital Group in the 1st quarter valued at $123,000. Cigna Investments Inc. New bought a new stake in Ascent Capital Group in the 2nd quarter valued at $159,000. Zacks Investment Management boosted its holdings 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 valued at $180,000 after purchasing an additional 97 shares during the period. First Quadrant L P CA bought a new stake in Ascent Capital Group in the 2nd quarter valued at $270,000. Finally, Teachers Advisors LLC boosted its holdings 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 valued at $357,000 after purchasing an additional 2,892 shares during the period. 79.48% of the stock is owned by hedge funds and other institutional investors.
Ascent Capital Group (ASCMA) traded up 3.57% during trading on Friday, hitting $11.32. 38,742 shares of the company traded hands. The firm’s market cap is $137.74 million. Ascent Capital Group has a one year low of $8.87 and a one year high of $22.76. The firm has a 50 day moving average of $11.89 and a 200 day moving average of $13.51.
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Ascent Capital Group Company Profile
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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