Equities Analysts Issue Forecasts for Cumulus Media Inc.’s Q1 2024 Earnings (NASDAQ:CMLS)

Cumulus Media Inc. (NASDAQ:CMLS) – Equities research analysts at Noble Financial lifted their Q1 2024 earnings per share (EPS) estimates for shares of Cumulus Media in a report issued on Monday, April 22nd. Noble Financial analyst M. Kupinski now forecasts that the company will post earnings per share of ($1.56) for the quarter, up from their prior forecast of ($1.70). Noble Financial currently has a “Market Perform” rating on the stock. The consensus estimate for Cumulus Media’s current full-year earnings is ($1.80) per share. Noble Financial also issued estimates for Cumulus Media’s Q2 2024 earnings at ($0.50) EPS, Q3 2024 earnings at ($0.16) EPS, Q4 2024 earnings at ($0.07) EPS, FY2024 earnings at ($2.29) EPS and FY2025 earnings at ($2.43) EPS.

Cumulus Media (NASDAQ:CMLS) last released its earnings results on Tuesday, February 27th. The company reported ($2.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.59) by ($2.01). The firm had revenue of $221.30 million during the quarter, compared to analysts’ expectations of $220.07 million. Cumulus Media had a negative net margin of 13.96% and a negative return on equity of 17.50%.

Separately, Barrington Research cut Cumulus Media from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 28th.

Cumulus Media Stock Performance

CMLS opened at $2.70 on Thursday. The stock has a market cap of $45.01 million, a PE ratio of -0.39 and a beta of 1.49. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 3.06. The business has a 50 day moving average of $3.45 and a 200-day moving average of $4.41. Cumulus Media has a 52 week low of $2.57 and a 52 week high of $6.59.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Stokes Family Office LLC purchased a new position in Cumulus Media during the third quarter valued at $52,000. Quadrature Capital Ltd purchased a new position in Cumulus Media during the fourth quarter valued at $57,000. Aristeia Capital LLC purchased a new position in Cumulus Media during the third quarter valued at $105,000. First Eagle Investment Management LLC purchased a new position in Cumulus Media during the fourth quarter valued at $117,000. Finally, Ritholtz Wealth Management purchased a new position in Cumulus Media during the fourth quarter valued at $145,000. Hedge funds and other institutional investors own 48.68% of the company’s stock.

About Cumulus Media

Cumulus Media Inc, an audio-first media company, owns and operates radio stations in the United States. It owns and operates stations in various markets, as well as 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, AP News, the Academy of Country Music Awards, and other partners.