Zacks: Brokerages Set $23.00 Target Price for Cumulus Media Inc (NASDAQ:CMLS)

Cumulus Media Inc (NASDAQ:CMLS) has been given a consensus broker rating score of 2.00 (Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating and one has assigned a strong buy rating to the company. Cumulus Media’s rating score has declined by 100% in the last 90 days as a result of a number of analysts’ ratings changes.

Analysts have set a 12 month consensus price target of $23.00 for the company and are expecting that the company will post $1.58 EPS for the current quarter, according to Zacks. Zacks has also given Cumulus Media an industry rank of 171 out of 256 based on the ratings given to related companies.

Several brokerages have recently weighed in on CMLS. Zacks Investment Research lowered ExlService from a “hold” rating to a “sell” rating in a report on Wednesday. ValuEngine upgraded Zogenix from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 27th. B. Riley restated a “buy” rating on shares of LightPath Technologies in a report on Tuesday, May 7th. Finally, Noble Financial set a $26.00 price objective on Cumulus Media and gave the company a “buy” rating in a report on Friday, May 10th.



Hedge funds and other institutional investors have recently made changes to their positions in the company. Oppenheimer Asset Management Inc. purchased a new stake in shares of Cumulus Media during the first quarter valued at $30,000. Spark Investment Management LLC purchased a new stake in shares of Cumulus Media during the first quarter valued at $189,000. Marshall Wace LLP purchased a new stake in shares of Cumulus Media during the first quarter valued at $374,000. Tibra Equities Europe Ltd purchased a new stake in shares of Cumulus Media during the first quarter valued at $431,000. Finally, Benefit Street Partners LLC purchased a new stake in shares of Cumulus Media during the first quarter valued at $894,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:CMLS traded down $0.29 on Friday, hitting $17.53. The company’s stock had a trading volume of 1,866 shares, compared to its average volume of 161,143. Cumulus Media has a 12 month low of $9.70 and a 12 month high of $26.00. The company’s 50-day moving average price is $17.25. The company has a debt-to-equity ratio of 3.37, a quick ratio of 3.25 and a current ratio of 3.25.

Cumulus Media (NASDAQ:CMLS) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.09). The firm had revenue of $267.50 million during the quarter, compared to the consensus estimate of $263.54 million. On average, equities research analysts predict that Cumulus Media will post 2.73 EPS for the current year.

Cumulus Media Company Profile

Cumulus Media Inc owns and operates radio stations in the United States. The company operates through two segments, Cumulus Radio Station Group and Westwood One. It sells broadcasting time on its owned or operated stations to local, regional, and national advertisers; and network advertising. The company offers content through approximately 433 owned-and-operated stations in 88 United States media markets; and approximately 8,000 broadcast radio stations affiliates and various digital channels.

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