Q1 2024 EPS Estimates for Cumulus Media Inc. Boosted by Analyst (NASDAQ:CMLS)

Cumulus Media Inc. (NASDAQ:CMLS) – Research analysts at Noble Financial increased their Q1 2024 EPS estimates for Cumulus Media in a research note issued to investors on Monday, April 22nd. Noble Financial analyst M. Kupinski now forecasts that the company will earn ($1.56) per share for the quarter, up from their previous estimate of ($1.70). Noble Financial currently has a “Market Perform” rating on the stock. The consensus estimate for Cumulus Media’s current full-year earnings is ($1.80) per share. Noble Financial also issued estimates for Cumulus Media’s Q2 2024 earnings at ($0.50) EPS, Q3 2024 earnings at ($0.16) EPS, Q4 2024 earnings at ($0.07) EPS, FY2024 earnings at ($2.29) EPS and FY2025 earnings at ($2.43) EPS.

Cumulus Media (NASDAQ:CMLS) last posted its quarterly earnings data on Tuesday, February 27th. The company reported ($2.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.59) by ($2.01). Cumulus Media had a negative net margin of 13.96% and a negative return on equity of 17.50%. The company had revenue of $221.30 million for the quarter, compared to the consensus estimate of $220.07 million.

Separately, Barrington Research cut shares of Cumulus Media from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 28th.

Cumulus Media Trading Up 2.2 %

NASDAQ CMLS opened at $2.76 on Thursday. The company has a market capitalization of $46.02 million, a price-to-earnings ratio of -0.39 and a beta of 1.49. Cumulus Media has a 12 month low of $2.57 and a 12 month high of $6.59. The company’s fifty day moving average price is $3.42 and its two-hundred day moving average price is $4.40. The company has a debt-to-equity ratio of 3.06, a current ratio of 2.00 and a quick ratio of 2.00.

Institutional Trading of Cumulus Media

Hedge funds have recently made changes to their positions in the stock. Stokes Family Office LLC bought a new position in shares of Cumulus Media during the third quarter valued at $52,000. Quadrature Capital Ltd bought a new stake in shares of Cumulus Media in the 4th quarter valued at about $57,000. Aristeia Capital LLC bought a new stake in Cumulus Media during the 3rd quarter worth approximately $105,000. First Eagle Investment Management LLC bought a new stake in Cumulus Media during the 4th quarter worth approximately $117,000. Finally, O Shaughnessy Asset Management LLC increased its stake in Cumulus Media by 40.8% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 28,538 shares of the company’s stock worth $145,000 after purchasing an additional 8,265 shares in the last quarter. 48.68% of the stock is owned by hedge funds and other institutional investors.

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.