Analysts expect that Cumulus Media Inc. (NASDAQ:CMLS) will announce $238.70 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Cumulus Media’s earnings, with estimates ranging from $237.00 million to $240.40 million. Cumulus Media reported sales of $196.39 million in the same quarter last year, which indicates a positive year-over-year growth rate of 21.5%. The business is expected to report its next quarterly earnings results on Thursday, November 4th.
On average, analysts expect that Cumulus Media will report full-year sales of $931.37 million for the current financial year, with estimates ranging from $925.95 million to $936.80 million. For the next financial year, analysts expect that the company will post sales of $1.02 billion, with estimates ranging from $1.01 billion to $1.02 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Cumulus Media.
Cumulus Media (NASDAQ:CMLS) last released its earnings results on Wednesday, August 4th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.24). The firm had revenue of $224.72 million for the quarter, compared to the consensus estimate of $219.68 million. Cumulus Media had a negative return on equity of 10.02% and a negative net margin of 5.05%.
Several institutional investors have recently modified their holdings of CMLS. Marshall Wace LLP acquired a new stake in shares of Cumulus Media in the first quarter worth $374,000. BlackRock Inc. raised its holdings in shares of Cumulus Media by 46.6% during the first quarter. BlackRock Inc. now owns 179,201 shares of the company’s stock worth $1,633,000 after acquiring an additional 56,981 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Cumulus Media during the first quarter worth $204,000. Acadian Asset Management LLC raised its holdings in shares of Cumulus Media by 416.6% during the first quarter. Acadian Asset Management LLC now owns 99,706 shares of the company’s stock worth $908,000 after acquiring an additional 80,404 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Cumulus Media by 76,108.5% during the first quarter. JPMorgan Chase & Co. now owns 44,963 shares of the company’s stock worth $410,000 after acquiring an additional 44,904 shares in the last quarter. 61.50% of the stock is owned by institutional investors and hedge funds.
CMLS traded up $0.56 during trading hours on Thursday, hitting $10.45. The company’s stock had a trading volume of 55,632 shares, compared to its average volume of 85,303. Cumulus Media has a fifty-two week low of $4.40 and a fifty-two week high of $14.84. The company has a current ratio of 2.85, a quick ratio of 2.85 and a debt-to-equity ratio of 2.75. The firm has a market capitalization of $214.08 million, a PE ratio of -4.72 and a beta of 2.20. The company has a 50-day simple moving average of $11.86 and a 200 day simple moving average of $11.21.
Cumulus Media Company Profile
Cumulus Media, Inc engages in the business of radio broadcasting. It operates through the following segments: Radio Station Group, Westwood One and Corporate and Other. The Radio Station Group segment includes the sale of broadcasting time to local, regional, and national advertisers. The Westwood One segment covers the revenues generated through network advertising.
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