Equity research analysts expect Cumulus Media Inc. (NASDAQ:CMLS) to report earnings of $0.73 per share for the current quarter, according to Zacks. Two analysts provided earnings estimates for Cumulus Media. The lowest EPS estimate is $0.26 and the highest is $1.20. Cumulus Media reported earnings of ($0.01) per share in the same quarter last year, indicating a positive growth rate of 7,400% year over year. The company is expected to release its next quarterly results after the market closes on Wednesday, February 23.
On average, analysts expect Cumulus Media to report annual earnings of $0.70 per share for the current year, with EPS estimates ranging from $0.22 to $1.17. For next year, analysts expect the company to post earnings of $1.95 per share, with EPS estimates ranging from $1.81 to $2.09. Zacks’ EPS calculations are an average average based on a survey of sell-side research analysts who track Cumulus Media.
A number of brokerages have recently released reports on CMLS. StockNews.com launched coverage on Cumulus Media shares in a research report on Monday. They issued a “buy” rating for the company. Zacks Investment Research downgraded shares of Cumulus Media from a “hold” rating to a “sell” rating in a Wednesday, Feb. 9 research report. One research analyst rated the stock with a sell rating and three issued a buy rating for the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $23.33.
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Shares of NASDAQ CMLS traded down $0.25 in Friday’s midday session, hitting $10.40. The company’s shares had a trading volume of 51,808 shares, compared to an average volume of 37,553. The company has a current ratio of 2.86, a quick ratio of 2.86 and a debt ratio of 2, 54. Cumulus Media has a fifty-two week low of $8.91 and a fifty-two week high of $14.84. The stock has a market capitalization of $213.23 million, a price/earnings ratio of -208.00 and a beta of 1.98. The stock has a 50-day simple moving average of $10.83 and a 200-day simple moving average of $11.67.
A number of institutional investors have recently changed their holdings in CMLS. BNP Paribas Arbitrage SA increased its stake in Cumulus Media shares by 2,355.0% in the fourth quarter. BNP Paribas Arbitrage SA now owns 4,198 shares of the company valued at $47,000 after purchasing an additional 4,027 shares during the period. Ancora Advisors LLC bought a new stake in shares of Cumulus Media in the third quarter at a value of $109,000. Morgan Stanley bought a new stake in shares of Cumulus Media in the first quarter worth $136,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Cumulus Media in the third quarter worth $149,000. Finally, Raymond James & Associates bought a new position in shares of Cumulus Media in the fourth quarter worth $175,000. Institutional investors and hedge funds hold 77.21% of the company’s shares.
About Cumulus Media
Cumulus Media, Inc. is in the business of broadcasting. It operates through the following segments: Radio Station Group, Westwood One and Corporate and Other. The Radio Station Group segment includes the sale of broadcast time to local, regional and national advertisers. The Westwood One segment covers revenue generated from network advertising.
Further reading
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