Analysts Anticipate Cumulus Media Inc (NASDAQ:CMLS) Will Post Earnings of -$1.36 Per Share

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Brokerages predict that Cumulus Media Inc (NASDAQ:CMLS) will post ($1.36) earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Cumulus Media’s earnings. The lowest EPS estimate is ($1.52) and the highest is ($1.19). Cumulus Media reported earnings per share of $2.11 during the same quarter last year, which would suggest a negative year-over-year growth rate of 164.5%. The business is scheduled to announce its next quarterly earnings results before the market opens on Monday, August 10th.

On average, analysts expect that Cumulus Media will report full-year earnings of ($1.19) per share for the current financial year, with EPS estimates ranging from ($3.08) to $0.71. For the next year, analysts expect that the business will report earnings of $0.54 per share, with EPS estimates ranging from ($0.05) to $1.13. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that follow Cumulus Media.

Cumulus Media (NASDAQ:CMLS) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.41). The firm had revenue of $227.91 million during the quarter, compared to analyst estimates of $233.00 million. Cumulus Media had a return on equity of 14.70% and a net margin of 4.98%.

A number of research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Cumulus Media from a “sell” rating to a “hold” rating in a research report on Tuesday, July 14th. B. Riley dropped their price target on shares of Cumulus Media from $12.00 to $4.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. ValuEngine upgraded shares of Cumulus Media from a “hold” rating to a “buy” rating in a research report on Thursday, July 2nd. Finally, Noble Financial reiterated a “buy” rating and set a $10.00 target price on shares of Cumulus Media in a research report on Tuesday, June 2nd. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Cumulus Media has an average rating of “Buy” and an average target price of $10.00.

Several institutional investors have recently added to or reduced their stakes in CMLS. First Eagle Investment Management LLC acquired a new position in Cumulus Media during the first quarter worth $77,000. Cubist Systematic Strategies LLC acquired a new position in Cumulus Media during the fourth quarter worth $263,000. Parametric Portfolio Associates LLC acquired a new position in Cumulus Media during the first quarter worth $82,000. UBS Group AG raised its holdings in Cumulus Media by 61.4% during the fourth quarter. UBS Group AG now owns 17,821 shares of the company’s stock worth $313,000 after buying an additional 6,781 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Cumulus Media by 32.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 18,034 shares of the company’s stock worth $317,000 after buying an additional 4,400 shares during the last quarter. Institutional investors own 86.46% of the company’s stock.

Shares of NASDAQ CMLS opened at $3.93 on Friday. The company has a market capitalization of $70.12 million, a P/E ratio of 1.49 and a beta of 1.67. Cumulus Media has a 52-week low of $3.00 and a 52-week high of $18.15. The company has a debt-to-equity ratio of 2.63, a quick ratio of 3.43 and a current ratio of 3.43. The company’s 50 day moving average price is $4.43 and its 200-day moving average price is $7.31.

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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Earnings History and Estimates for Cumulus Media (NASDAQ:CMLS)

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