Analysts Offer Predictions for Cumulus Media FY2024 Earnings

Cumulus Media Inc. (NASDAQ:CMLS) – Noble Financial lowered their FY2024 EPS estimates for Cumulus Media in a report issued on Monday, November 4th. Noble Financial analyst M. Kupinski now expects that the company will post earnings of ($2.70) per share for the year, down from their previous forecast of ($2.29). The consensus estimate for Cumulus Media’s current full-year earnings is ($2.42) per share. Noble Financial also issued estimates for Cumulus Media’s Q4 2024 earnings at ($0.57) EPS and FY2025 earnings at ($3.85) EPS.

Cumulus Media (NASDAQ:CMLS) last issued its quarterly earnings data on Friday, November 1st. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.07). The company had revenue of $203.60 million for the quarter, compared to analysts’ expectations of $204.05 million. Cumulus Media had a negative net margin of 18.11% and a negative return on equity of 29.38%. During the same period in the previous year, the firm posted $0.16 earnings per share.

Separately, StockNews.com started coverage on shares of Cumulus Media in a research report on Tuesday. They set a “hold” rating on the stock.

Cumulus Media Stock Up 1.1 %

Shares of Cumulus Media stock opened at $0.88 on Wednesday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 3.55. The company’s fifty day simple moving average is $1.35 and its two-hundred day simple moving average is $1.87. The company has a market cap of $14.90 million, a P/E ratio of -0.10 and a beta of 1.45. Cumulus Media has a 12-month low of $0.86 and a 12-month high of $5.51.

Institutional Trading of Cumulus Media

Hedge funds have recently modified their holdings of the business. Empowered Funds LLC bought a new stake in shares of Cumulus Media during the 1st quarter valued at $54,000. Balanced Rock Investment Advisors LLC boosted its holdings in shares of Cumulus Media by 24.5% during the 1st quarter. Balanced Rock Investment Advisors LLC now owns 80,351 shares of the company’s stock valued at $288,000 after buying an additional 15,820 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of Cumulus Media during the 1st quarter valued at $303,000. Finally, Acadian Asset Management LLC boosted its holdings in shares of Cumulus Media by 9.6% during the 1st quarter. Acadian Asset Management LLC now owns 410,300 shares of the company’s stock valued at $1,472,000 after buying an additional 36,024 shares in the last quarter. Institutional investors own 48.68% of the company’s stock.

Cumulus Media Company Profile

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.