Zacks: Analysts Anticipate Cumulus Media Inc. (NASDAQ:CMLS) Will Announce Earnings of -$0.38 Per Share

Wall Street brokerages expect Cumulus Media Inc. (NASDAQ:CMLSGet Rating) to post earnings per share (EPS) of ($0.38) for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Cumulus Media’s earnings. The lowest EPS estimate is ($0.47) and the highest is ($0.29). Cumulus Media posted earnings per share of ($1.07) in the same quarter last year, which indicates a positive year over year growth rate of 64.5%. The business is expected to report its next earnings results before the market opens on Monday, January 1st.

According to Zacks, analysts expect that Cumulus Media will report full-year earnings of $1.87 per share for the current year, with EPS estimates ranging from $1.81 to $1.93. For the next financial year, analysts expect that the company will report earnings of $2.84 per share. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Cumulus Media.

Cumulus Media (NASDAQ:CMLSGet Rating) last announced its earnings results on Wednesday, February 23rd. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.53). The business had revenue of $252.30 million for the quarter, compared to analyst estimates of $253.65 million. Cumulus Media had a net margin of 1.89% and a negative return on equity of 1.63%. During the same quarter in the prior year, the business earned ($0.01) earnings per share.

A number of research firms recently commented on CMLS. Zacks Investment Research downgraded Cumulus Media from a “hold” rating to a “sell” rating in a research note on Wednesday, February 9th. StockNews.com began coverage on Cumulus Media in a research note on Tuesday. They issued a “buy” rating for the company. Finally, B. Riley lifted their price target on Cumulus Media from $23.00 to $26.00 in a research note on Thursday, February 24th. One equities research analyst has rated the stock with a sell rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $22.67.

Shares of Cumulus Media stock traded up $0.20 during trading hours on Friday, hitting $14.83. 2,306 shares of the company’s stock traded hands, compared to its average volume of 58,863. The company has a market cap of $305.74 million, a PE ratio of 18.60 and a beta of 1.87. Cumulus Media has a twelve month low of $8.91 and a twelve month high of $15.20. The stock has a 50 day simple moving average of $10.93 and a 200-day simple moving average of $11.46. The company has a quick ratio of 2.91, a current ratio of 2.91 and a debt-to-equity ratio of 2.43.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA increased its stake in shares of Cumulus Media by 2,355.0% during the fourth quarter. BNP Paribas Arbitrage SA now owns 4,198 shares of the company’s stock valued at $47,000 after acquiring an additional 4,027 shares during the period. Ancora Advisors LLC acquired a new position in shares of Cumulus Media during the third quarter valued at approximately $109,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Cumulus Media during the third quarter valued at approximately $149,000. Morgan Stanley acquired a new position in shares of Cumulus Media during the first quarter valued at approximately $136,000. Finally, Raymond James & Associates acquired a new position in shares of Cumulus Media during the fourth quarter valued at approximately $175,000. Institutional investors and hedge funds own 77.21% of the company’s stock.

About Cumulus Media (Get Rating)

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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