Wall Street brokerages forecast that Cumulus Media Inc (NASDAQ:CMLS) will report $1.19 earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have made estimates for Cumulus Media’s earnings. The lowest EPS estimate is $0.79 and the highest is $1.58. The firm is expected to report its next earnings results on Thursday, August 8th.
According to Zacks, analysts expect that Cumulus Media will report full-year earnings of $2.37 per share for the current fiscal year, with EPS estimates ranging from $2.01 to $2.73. For the next financial year, analysts expect that the company will post earnings of $3.22 per share, with EPS estimates ranging from $2.71 to $3.73. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that follow Cumulus Media.
Cumulus Media (NASDAQ:CMLS) last released its quarterly earnings results on Monday, March 18th. The company reported $1.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.48. The company had revenue of $309.18 million for the quarter, compared to analysts’ expectations of $303.66 million.
Several analysts recently weighed in on CMLS shares. Noble Financial set a $26.00 price target on Cumulus Media and gave the company a “buy” rating in a report on Friday, March 22nd. ValuEngine upgraded Cumulus Media from a “sell” rating to a “hold” rating in a report on Monday, February 4th. B. Riley started coverage on Cumulus Media in a report on Tuesday, May 7th. They set a “neutral” rating and a $20.00 price target on the stock. Finally, Zacks Investment Research upgraded Cumulus Media from a “hold” rating to a “strong-buy” rating and set a $22.00 price target on the stock in a report on Tuesday, March 26th. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $20.50.
Large investors have recently added to or reduced their stakes in the stock. Beach Point Capital Management LP purchased a new stake in Cumulus Media during the 4th quarter valued at $6,067,000. Oppenheimer Asset Management Inc. purchased a new stake in Cumulus Media in the first quarter worth $30,000. NYL Investors LLC purchased a new stake in Cumulus Media in the fourth quarter worth $710,000. Stone Harbor Investment Partners LP increased its stake in Cumulus Media by 28.5% in the fourth quarter. Stone Harbor Investment Partners LP now owns 78,987 shares of the company’s stock worth $857,000 after purchasing an additional 17,504 shares during the period. Finally, Tibra Equities Europe Ltd purchased a new stake in Cumulus Media in the first quarter worth $431,000. Institutional investors own 84.24% of the company’s stock.
NASDAQ:CMLS traded up $0.01 during midday trading on Friday, hitting $17.25. 38,153 shares of the company traded hands, compared to its average volume of 50,263. Cumulus Media has a 12-month low of $9.70 and a 12-month high of $26.00. The company has a debt-to-equity ratio of 3.37, a quick ratio of 3.25 and a current ratio of 3.25.
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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