Cumulus Media Inc (NASDAQ:CMLS) Expected to Post Earnings of -$0.46 Per Share

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Wall Street brokerages expect that Cumulus Media Inc (NASDAQ:CMLS) will announce earnings of ($0.46) per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Cumulus Media’s earnings. The highest EPS estimate is ($0.12) and the lowest is ($0.79). Cumulus Media posted earnings of $0.81 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 156.8%. The business is expected to announce its next earnings report on Monday, November 9th.

On average, analysts expect that Cumulus Media will report full year earnings of ($3.08) per share for the current financial year. For the next year, analysts forecast that the business will report earnings of ($0.86) per share, with EPS estimates ranging from ($1.63) to ($0.09). Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Cumulus Media.

Cumulus Media (NASDAQ:CMLS) last released its quarterly earnings data on Monday, August 10th. The company reported ($1.52) earnings per share for the quarter, hitting the consensus estimate of ($1.52). Cumulus Media had a negative return on equity of 1.81% and a negative net margin of 2.74%. The business had revenue of $146.02 million during the quarter, compared to analysts’ expectations of $156.25 million.

CMLS has been the subject of several research reports. Zacks Investment Research upgraded shares of Cumulus Media from a “sell” rating to a “hold” rating in a report on Tuesday, July 14th. Noble Financial restated a “buy” rating on shares of Cumulus Media in a report on Wednesday, August 12th. Finally, ValuEngine upgraded Cumulus Media from a “hold” rating to a “buy” rating in a report on Thursday, July 2nd. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $10.00.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Sunbelt Securities Inc. bought a new stake in Cumulus Media during the second quarter worth about $55,000. Goldman Sachs Group Inc. purchased a new position in shares of Cumulus Media during the second quarter valued at approximately $68,000. First Eagle Investment Management LLC bought a new stake in shares of Cumulus Media in the 1st quarter worth approximately $77,000. Parametric Portfolio Associates LLC purchased a new stake in shares of Cumulus Media in the 1st quarter worth approximately $82,000. Finally, Rhumbline Advisers increased its position in Cumulus Media by 18.9% during the 1st quarter. Rhumbline Advisers now owns 19,716 shares of the company’s stock valued at $107,000 after buying an additional 3,140 shares in the last quarter. 67.08% of the stock is owned by institutional investors.

Shares of Cumulus Media stock traded down $0.09 during midday trading on Wednesday, reaching $4.66. 101,751 shares of the company’s stock traded hands, compared to its average volume of 192,593. The company has a market cap of $96.51 million, a PE ratio of -3.77 and a beta of 1.80. The stock has a 50 day moving average of $5.09 and a 200-day moving average of $4.86. Cumulus Media has a 12 month low of $3.00 and a 12 month high of $18.15. The company has a debt-to-equity ratio of 2.58, a quick ratio of 3.61 and a current ratio of 3.61.

Cumulus Media Company Profile

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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