Cumulus Media Inc. to Post Q2 2024 Earnings of ($0.43) Per Share, Barrington Research Forecasts (NASDAQ:CMLS)

Cumulus Media Inc. (NASDAQ:CMLS) – Barrington Research lowered their Q2 2024 earnings per share estimates for Cumulus Media in a research report issued on Tuesday, May 7th. Barrington Research analyst J. Goss now expects that the company will post earnings per share of ($0.43) for the quarter, down from their prior estimate of ($0.06). Barrington Research has a “Market Perform” rating on the stock. The consensus estimate for Cumulus Media’s current full-year earnings is ($1.76) per share. Barrington Research also issued estimates for Cumulus Media’s Q3 2024 earnings at ($0.32) EPS, Q4 2024 earnings at ($0.16) EPS, FY2024 earnings at ($1.76) EPS, Q1 2025 earnings at ($1.18) EPS, Q2 2025 earnings at ($0.40) EPS, Q3 2025 earnings at ($0.37) EPS, Q4 2025 earnings at ($0.37) EPS, FY2025 earnings at ($2.32) EPS, Q1 2026 earnings at ($1.05) EPS and FY2026 earnings at ($1.25) EPS.

Cumulus Media (NASDAQ:CMLS) last posted its earnings results on Tuesday, February 27th. The company reported ($2.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by ($2.01). Cumulus Media had a negative net margin of 13.18% and a negative return on equity of 15.85%. The firm had revenue of $221.30 million for the quarter, compared to analyst estimates of $220.07 million.

Separately, Noble Financial reiterated a “market perform” rating on shares of Cumulus Media in a research report on Wednesday, February 28th.

Cumulus Media Price Performance

Shares of NASDAQ CMLS opened at $2.67 on Friday. The stock has a market cap of $44.52 million, a P/E ratio of -0.40 and a beta of 1.55. The firm’s 50-day simple moving average is $3.17 and its 200 day simple moving average is $4.23. Cumulus Media has a fifty-two week low of $2.59 and a fifty-two week high of $6.59. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 3.06.

Institutional Investors Weigh In On Cumulus Media

Institutional investors have recently bought and sold shares of the business. Empowered Funds LLC bought a new stake in Cumulus Media during the 1st quarter worth about $54,000. Quadrature Capital Ltd bought a new stake in shares of Cumulus Media during the fourth quarter valued at approximately $57,000. First Eagle Investment Management LLC acquired a new stake in shares of Cumulus Media in the fourth quarter valued at approximately $117,000. Ritholtz Wealth Management bought a new position in Cumulus Media in the 4th quarter worth approximately $145,000. Finally, Exchange Traded Concepts LLC acquired a new position in Cumulus Media during the 4th quarter worth $268,000. 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.