Imperial Capital Raises Price Target on Ascent Media (ASCMA) Following 2Q

August 11, 2016 7:39 AM EDT
Get Alerts ASCMA Hot Sheet
Price: $17.63 +1.73%

Rating Summary:
    1 Buy, 4 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 11 | Down: 31 | New: 42
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Imperial Capital reiterated an In-Line rating on Ascent Media (NASDAQ: ASCMA), and raised the price target to $21.00 (from $20.00), following the company's 2Q earnings report. Ascent Capital Group reported revenues of $144mn, consistent with Street estimates of
$144mn.

Analyst Jeff Kessler commented, "We are maintaining our In-Line rating on the shares of ASCMA and increasing our one-year price target to $21 from $20. Our price target is about 8% above the recent share price. On 8/9/16, Ascent Capital Group reported 2Q16 revenue of $144mn, consistent with Street estimates of $144mn, but below our estimate of $147mn. ASCMA Pre-SAC (pre-subscriber acquisition cost) adjusted EBITDA of $91.8mn was slightly improved from $91.0mn during the same period last year, and above our estimate of $90.6mn. Monitronics Pre-SAC adjusted EBITDA of $93.4mn was flat year-over-year (yoy) and above our estimate of $92.5mn. Unit attrition of 13.9% was up yoy from 13.4%, and consistent with our estimate of 13.9%. Recurring monthly revenue (RMR) attrition of 12.5% was down from 13.2% during the same period last year, and below our estimate of 13.6%. Core attrition of 13.2% was up from 12.6% from the same period last year, and above our estimate of 13.0%."

For an analyst ratings summary and ratings history on Ascent Media click here. For more ratings news on Ascent Media click here.

Shares of Ascent Media closed at $19.47 yesterday.



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