Cumulus Media Inc (NASDAQ:CMLS) Given Average Rating of “Buy” by Analysts

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Shares of Cumulus Media Inc (NASDAQ:CMLS) have earned a consensus broker rating score of 2.00 (Buy) from the two analysts that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a hold rating and one has assigned a strong buy rating to the company. Cumulus Media’s rating score has declined by 100% in the last three months as a result of a number of analysts’ ratings changes.

Brokerages have set a twelve-month consensus target price of $23.00 for the company and are expecting that the company will post $1.58 EPS for the current quarter, according to Zacks. Zacks has also given Cumulus Media an industry rank of 169 out of 256 based on the ratings given to related companies.

Several research firms have issued reports on CMLS. B. Riley restated a “buy” rating on shares of LightPath Technologies in a research report on Tuesday, May 7th. Zacks Investment Research downgraded shares of ExlService from a “hold” rating to a “sell” rating in a research note on Wednesday, July 10th. Noble Financial set a $26.00 target price on shares of Cumulus Media and gave the company a “buy” rating in a research note on Friday, May 10th. Finally, ValuEngine raised shares of Zogenix from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 27th.

Shares of NASDAQ:CMLS opened at $16.42 on Friday. Cumulus Media has a 52-week low of $9.70 and a 52-week high of $26.00. The stock has a fifty day moving average of $17.40. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 3.37.

Cumulus Media (NASDAQ:CMLS) last announced its earnings results on Thursday, May 9th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.09). The company had revenue of $267.50 million for the quarter, compared to the consensus estimate of $263.54 million. Sell-side analysts predict that Cumulus Media will post 2.73 EPS for the current year.

Several hedge funds have recently made changes to their positions in the company. Oppenheimer Asset Management Inc. bought a new stake in shares of Cumulus Media during the 1st quarter valued at $30,000. Spark Investment Management LLC bought a new stake in shares of Cumulus Media during the 1st quarter valued at $189,000. Marshall Wace LLP bought a new stake in Cumulus Media in the 1st quarter valued at $374,000. Tibra Equities Europe Ltd bought a new stake in Cumulus Media in the 1st quarter valued at $431,000. Finally, Benefit Street Partners LLC bought a new stake in Cumulus Media in the 1st quarter valued at $894,000. Hedge funds and other institutional investors own 77.78% of the company’s stock.

About Cumulus Media

Cumulus Media Inc owns and operates radio stations in the United States. The company operates through two segments, Cumulus Radio Station Group and Westwood One. It sells broadcasting time on its owned or operated stations to local, regional, and national advertisers; and network advertising. The company offers content through approximately 433 owned-and-operated stations in 88 United States media markets; and approximately 8,000 broadcast radio stations affiliates and various digital channels.

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