Wall Street brokerages expect Ascent Capital Group, Inc. (NASDAQ:ASCMA) to announce earnings of ($1.98) per share for the current quarter, Zacks reports. Two analysts have made estimates for Ascent Capital Group’s earnings. The highest EPS estimate is ($1.71) and the lowest is ($2.29). Ascent Capital Group reported earnings of ($1.73) per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 14.5%. The business is scheduled to report its next quarterly earnings report on Monday, November 6th.
According to Zacks, analysts expect that Ascent Capital Group will report full year earnings of ($7.99) per share for the current year, with EPS estimates ranging from ($9.69) to ($6.96). For the next financial year, analysts forecast that the company will post earnings of ($7.41) per share, with EPS estimates ranging from ($8.87) to ($5.84). Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Ascent Capital Group.
Ascent Capital Group (NASDAQ:ASCMA) last posted its quarterly earnings data on Wednesday, August 9th. The industrial products company reported ($3.58) earnings per share for the quarter, missing the Thomson Reuters’ 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 for the quarter, compared to analyst estimates of $142.68 million.
A number of equities research analysts recently commented on ASCMA shares. Imperial Capital lowered their price target on shares of Ascent Capital Group from $21.00 to $15.00 and set an “outperform” rating for the company in a report on Thursday, May 11th. Zacks Investment Research lowered shares of Ascent Capital Group from a “hold” rating to a “sell” rating in a report on Friday, May 12th. ValuEngine lowered shares of Ascent Capital Group from a “sell” rating to a “strong sell” rating in a report on Monday, August 7th. 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.
Ascent Capital Group (NASDAQ:ASCMA) traded down 4.60% during midday trading on Friday, hitting $11.61. 74,999 shares of the stock traded hands. The company’s market capitalization is $141.27 million. Ascent Capital Group has a 52 week low of $11.36 and a 52 week high of $26.16. The stock’s 50-day moving average price is $16.09 and its 200 day moving average price is $14.93.
In related news, major shareholder Okumus Fund Management Ltd. sold 2,000 shares of the stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $17.11, for a total transaction of $34,220.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Opportunistic Value Fun Okumus sold 150,000 shares of the stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $17.00, for a total transaction of $2,550,000.00. The disclosure for this sale can be found here. Insiders sold a total of 158,600 shares of company stock valued at $2,697,278 over the last 90 days. Company insiders own 8.65% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new stake in shares of Ascent Capital Group during the first quarter valued at approximately $123,000. Cigna Investments Inc. New purchased a new stake in shares of Ascent Capital Group during the second quarter valued at approximately $159,000. Nine Chapters Capital Management LLC increased its stake in shares of Ascent Capital Group by 56.2% in the first quarter. Nine Chapters Capital Management LLC now owns 18,900 shares of the industrial products company’s stock valued at $267,000 after buying an additional 6,800 shares during the period. First Quadrant L P CA purchased a new stake in shares of Ascent Capital Group during the second quarter valued at approximately $270,000. Finally, First Manhattan Co. increased its stake in shares of Ascent Capital Group by 14.5% in the first quarter. First Manhattan Co. now owns 14,566 shares of the industrial products company’s stock valued at $337,000 after buying an additional 1,842 shares during the period. 82.33% of the stock is currently 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Ascent Capital Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ascent Capital Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.