Cumulus Media Inc. (NASDAQ:CMLS) Forecasted to Post Q2 2024 Earnings of $1.15 Per Share

Cumulus Media Inc. (NASDAQ:CMLSGet Rating) – Analysts at Barrington Research raised their Q2 2024 EPS estimates for shares of Cumulus Media in a research note issued to investors on Thursday, September 15th. Barrington Research analyst J. Goss now anticipates that the company will earn $1.15 per share for the quarter, up from their prior forecast of $0.97. The consensus estimate for Cumulus Media’s current full-year earnings is $1.65 per share.

Separately, StockNews.com lowered shares of Cumulus Media from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th.

Cumulus Media Price Performance

CMLS opened at $8.90 on Monday. The firm has a market cap of $169.30 million, a price-to-earnings ratio of 3.50, a price-to-earnings-growth ratio of 0.36 and a beta of 1.44. Cumulus Media has a fifty-two week low of $6.46 and a fifty-two week high of $15.67. The company’s 50-day moving average price is $8.77 and its 200 day moving average price is $10.31. The company has a quick ratio of 2.56, a current ratio of 2.56 and a debt-to-equity ratio of 2.36.

Cumulus Media (NASDAQ:CMLSGet Rating) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.17). The company had revenue of $236.74 million for the quarter, compared to the consensus estimate of $235.80 million. Cumulus Media had a return on equity of 5.53% and a net margin of 5.51%.

Institutional Investors Weigh In On Cumulus Media

Several large investors have recently made changes to their positions in CMLS. BNP Paribas Arbitrage SA boosted its holdings in Cumulus Media by 36.4% during the second quarter. BNP Paribas Arbitrage SA now owns 4,847 shares of the company’s stock worth $37,000 after buying an additional 1,293 shares in the last quarter. Lazard Asset Management LLC bought a new stake in Cumulus Media during the second quarter worth approximately $38,000. American International Group Inc. bought a new stake in Cumulus Media during the second quarter worth approximately $67,000. Privium Fund Management UK Ltd bought a new stake in Cumulus Media during the second quarter worth approximately $97,000. Finally, UBS Group AG boosted its holdings in Cumulus Media by 795.3% during the second quarter. UBS Group AG now owns 13,984 shares of the company’s stock worth $108,000 after buying an additional 12,422 shares in the last quarter. Institutional investors and hedge funds own 72.11% of the company’s stock.

Cumulus Media Company Profile

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Cumulus Media Inc, an audio-first media company, owns and operates radio stations in the United States. It owns and operates 406 stations in 86 markets, as well as approximately 9,500 affiliated stations through Westwood One. The company's content portfolio includes sports, news, talk, and entertainment programming from various brands, including the NFL, the NCAA, the Masters, CNN, the AP, the Academy of Country Music Awards, and other partners.

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

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