Equities research analysts expect Cumulus Media Inc (NASDAQ:CMLS) to post earnings per share of $1.58 for the current quarter, according to Zacks. Two analysts have issued estimates for Cumulus Media’s earnings. The firm is expected to issue its next quarterly earnings results on Thursday, August 8th.
According to Zacks, analysts expect that Cumulus Media will report full year earnings of $2.73 per share for the current year. For the next year, analysts expect that the business will post earnings of $3.22 per share, with EPS estimates ranging from $2.71 to $3.73. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Cumulus Media.
Cumulus Media (NASDAQ:CMLS) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.09). The firm had revenue of $267.50 million for the quarter, compared to the consensus estimate of $263.54 million.
Several research analysts have recently weighed in on the stock. Noble Financial set a $26.00 price target on shares of Cumulus Media and gave the company a “buy” rating in a report on Friday, May 10th. ValuEngine upgraded shares of Zogenix from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 27th. B. Riley restated a “buy” rating on shares of LightPath Technologies in a report on Tuesday, May 7th. Finally, Zacks Investment Research cut shares of ExlService from a “hold” rating to a “sell” rating in a report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $20.50.
Shares of Cumulus Media stock traded down $0.14 on Thursday, hitting $17.65. The company had a trading volume of 1,504 shares, compared to its average volume of 163,131. Cumulus Media has a twelve month low of $9.70 and a twelve month high of $26.00. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 3.37. The company has a 50-day simple moving average of $17.29.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. acquired a new position in Cumulus Media during the first quarter worth $30,000. Spark Investment Management LLC bought a new position in shares of Cumulus Media in the first quarter valued at about $189,000. Marshall Wace LLP bought a new position in shares of Cumulus Media in the first quarter valued at about $374,000. Tibra Equities Europe Ltd bought a new position in shares of Cumulus Media in the first quarter valued at about $431,000. Finally, Benefit Street Partners LLC bought a new position in shares of Cumulus Media in the first quarter valued at about $894,000. Institutional investors and hedge funds own 93.01% 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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