Cumulus Media Inc. (NASDAQ:CMLS – Free Report) – Noble Financial upped their Q1 2024 earnings per share (EPS) estimates for shares of Cumulus Media in a report issued on Monday, April 22nd. Noble Financial analyst M. Kupinski now forecasts that the company will post earnings of ($1.56) per share for the quarter, up from their prior 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 ($1.76) 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.
Separately, Barrington Research lowered Cumulus Media from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 28th.
Cumulus Media Stock Down 2.9 %
Shares of Cumulus Media stock opened at $2.68 on Thursday. Cumulus Media has a one year low of $2.57 and a one year high of $6.59. The company has a debt-to-equity ratio of 3.06, a current ratio of 2.00 and a quick ratio of 2.00. The stock’s 50-day moving average is $3.40 and its 200 day moving average is $4.38. The firm has a market cap of $44.68 million, a price-to-earnings ratio of -0.38 and a beta of 1.49.
Cumulus Media (NASDAQ:CMLS – Get Free Report) last released its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $220.07 million.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in CMLS. Stokes Family Office LLC acquired a new position in Cumulus Media during the 3rd quarter worth approximately $52,000. Quadrature Capital Ltd acquired a new position in Cumulus Media during the 4th quarter worth approximately $57,000. Aristeia Capital LLC acquired a new position in Cumulus Media during the 3rd quarter worth approximately $105,000. First Eagle Investment Management LLC acquired a new position in Cumulus Media during the 4th quarter worth approximately $117,000. Finally, O Shaughnessy Asset Management LLC raised 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 buying an additional 8,265 shares during the period. 48.68% of the stock is owned by institutional investors and hedge funds.
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.
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