FY2024 EPS Forecast for Cumulus Media Lowered by Analyst

Cumulus Media Inc. (NASDAQ:CMLS) – Stock analysts at Barrington Research lowered their FY2024 earnings estimates for Cumulus Media in a research report issued on Monday, November 4th. Barrington Research analyst J. Goss now forecasts that the company will post earnings of ($2.72) per share for the year, down from their prior forecast of ($2.55). The consensus estimate for Cumulus Media’s current full-year earnings is ($2.42) per share. Barrington Research also issued estimates for Cumulus Media’s Q4 2024 earnings at ($0.58) EPS, Q1 2025 earnings at ($1.17) EPS, Q2 2025 earnings at ($0.35) EPS, Q3 2025 earnings at ($0.48) EPS, Q4 2025 earnings at ($0.64) EPS, FY2025 earnings at ($2.63) EPS, Q1 2026 earnings at ($0.91) EPS, Q2 2026 earnings at ($0.07) EPS, Q3 2026 earnings at ($0.26) EPS and FY2026 earnings at ($1.44) EPS.

Cumulus Media (NASDAQ:CMLS) last posted its earnings results on Friday, November 1st. The company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.54) by ($0.07). Cumulus Media had a negative return on equity of 30.27% and a negative net margin of 18.11%. The firm had revenue of $203.60 million during the quarter, compared to the consensus estimate of $204.05 million. During the same quarter last year, the company posted $0.16 EPS.

Separately, StockNews.com began coverage on shares of Cumulus Media in a report on Tuesday. They issued a “hold” rating for the company.

Cumulus Media Trading Down 1.0 %

Shares of NASDAQ:CMLS opened at $0.87 on Thursday. The company has a 50 day moving average of $1.33 and a 200-day moving average of $1.87. The company has a current ratio of 1.89, a quick ratio of 1.88 and a debt-to-equity ratio of 3.68. The firm has a market cap of $14.75 million, a P/E ratio of -0.10 and a beta of 1.45. Cumulus Media has a twelve month low of $0.86 and a twelve month high of $5.51.

Institutional Investors Weigh In On Cumulus Media

Institutional investors and hedge funds have recently modified their holdings of the business. Empowered Funds LLC bought a new position in shares of Cumulus Media in the 1st quarter valued at approximately $54,000. 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 worth $1,472,000 after buying an additional 36,024 shares during the period. Balanced Rock Investment Advisors LLC grew its stake in Cumulus Media by 24.5% in 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 during the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new position in Cumulus Media in the 1st quarter worth $303,000. Institutional investors and hedge funds 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.