Ascent Capital Group (ASCMA) Expected to Announce Quarterly Sales of $133.40 Million

Analysts forecast that Ascent Capital Group (NASDAQ:ASCMA) will report $133.40 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Ascent Capital Group’s earnings, with estimates ranging from $132.66 million to $134.14 million. Ascent Capital Group reported sales of $141.20 million in the same quarter last year, which indicates a negative year-over-year growth rate of 5.5%. The company is scheduled to announce its next earnings report on Tuesday, May 8th.

On average, analysts expect that Ascent Capital Group will report full year sales of $522.07 million for the current fiscal year, with estimates ranging from $518.43 million to $525.71 million. For the next fiscal year, analysts anticipate that the firm will report sales of $501.51 million per share, with estimates ranging from $495.08 million to $507.94 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Ascent Capital Group.

ASCMA has been the subject of several analyst reports. Zacks Investment Research upgraded Ascent Capital Group from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research report on Tuesday, January 2nd. ValuEngine upgraded Ascent Capital Group from a “sell” rating to a “hold” rating in a research report on Monday, April 2nd. Stifel Nicolaus cut their price objective on Ascent Capital Group from $13.00 to $11.00 and set a “hold” rating for the company in a research report on Thursday, March 15th. Finally, Imperial Capital reiterated an “outperform” rating and issued a $10.00 price objective (down previously from $13.00) on shares of Ascent Capital Group in a research report on Tuesday, March 6th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Ascent Capital Group currently has an average rating of “Hold” and a consensus price target of $9.69.

Shares of Ascent Capital Group stock traded down $0.03 during midday trading on Friday, hitting $3.53. 37,415 shares of the company were exchanged, compared to its average volume of 82,461. The company has a debt-to-equity ratio of 12.46, a current ratio of 1.38 and a quick ratio of 1.38. The company has a market capitalization of $44.82, a PE ratio of -0.40 and a beta of 1.81. Ascent Capital Group has a 52 week low of $3.30 and a 52 week high of $17.84.

Institutional investors and hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company increased its stake in shares of Ascent Capital Group by 1,894.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 10,392 shares of the industrial products company’s stock valued at $119,000 after buying an additional 9,871 shares during the period. Stone Ridge Asset Management LLC acquired a new stake in shares of Ascent Capital Group in the 4th quarter valued at $163,000. Deutsche Bank AG increased its stake in shares of Ascent Capital Group by 137.1% in the 4th quarter. Deutsche Bank AG now owns 24,851 shares of the industrial products company’s stock valued at $284,000 after buying an additional 14,371 shares during the period. Two Sigma Investments LP acquired a new stake in shares of Ascent Capital Group in the 4th quarter valued at $630,000. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of Ascent Capital Group by 82.1% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 158,329 shares of the industrial products company’s stock valued at $2,065,000 after buying an additional 71,391 shares during the period. Hedge funds and other institutional investors own 85.45% of the company’s stock.

About Ascent Capital Group

Ascent Capital Group, Inc, through its subsidiary, Monitronics International, Inc, provides security alarm monitoring services to residential and commercial customers in the United States, Canada, the District of Columbia, and Puerto Rico. The company provides monitoring services for alarm signals arising from burglaries, fires, medical alerts, and other events through security systems at customers' premises.

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Earnings History and Estimates for Ascent Capital Group (NASDAQ:ASCMA)

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