Wall Street brokerages predict that Ascent Capital Group (NASDAQ:ASCMA) will post sales of $133.40 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Ascent Capital Group’s earnings. The highest sales estimate is $134.14 million and the lowest is $132.66 million. Ascent Capital Group reported sales of $141.20 million in the same quarter last year, which would indicate a negative year over year growth rate of 5.5%. The firm is expected to report its next earnings report on Tuesday, May 8th.
According to Zacks, analysts expect that Ascent Capital Group will report full year sales of $133.40 million for the current financial year, with estimates ranging from $518.43 million to $525.71 million. For the next 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 Investment Research’s sales averages are an average based on a survey of sell-side research firms that that provide coverage for Ascent Capital Group.
Several equities analysts have recently issued reports on the company. ValuEngine lowered Ascent Capital Group from a “sell” rating to a “strong sell” rating in a research report on Monday, February 5th. Imperial Capital reaffirmed an “outperform” rating and issued a $10.00 price target (down previously from $13.00) on shares of Ascent Capital Group in a research report on Tuesday, March 6th. Zacks Investment Research upgraded Ascent Capital Group from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a report on Tuesday, January 2nd. Finally, Stifel Nicolaus reduced their price objective on Ascent Capital Group from $13.00 to $11.00 and set a “hold” rating for the company in a report on Thursday, March 15th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $9.69.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ASCMA. State Street Corp grew its stake in shares of Ascent Capital Group by 3.0% during the 2nd quarter. State Street Corp now owns 228,283 shares of the industrial products company’s stock valued at $3,504,000 after purchasing an additional 6,682 shares during the period. Schwab Charles Investment Management Inc. lifted its position in shares of Ascent Capital Group by 82.1% during 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 in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Ascent Capital Group by 1,894.6% during 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 in the last quarter. Deutsche Bank AG lifted its position in shares of Ascent Capital Group by 137.1% during 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 in the last quarter. Finally, Stone Ridge Asset Management LLC purchased a new position in shares of Ascent Capital Group during the 4th quarter valued at about $163,000. Institutional investors own 85.35% of the company’s stock.
Shares of ASCMA traded down $0.22 during trading hours on Wednesday, hitting $3.54. The company had a trading volume of 99,292 shares, compared to its average volume of 88,506. 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 firm has a market cap of $46.55, 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.
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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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