FY2024 EPS Estimate for Cumulus Media Decreased by Analyst

Cumulus Media Inc. (NASDAQ:CMLS) – Equities research analysts at Noble Financial dropped their FY2024 earnings estimates for shares of Cumulus Media in a report issued on Monday, November 4th. Noble Financial analyst M. Kupinski now forecasts that the company will post earnings of ($2.70) per share for the year, down from their previous estimate of ($2.29). The consensus estimate for Cumulus Media’s current full-year earnings is ($2.42) per share. Noble Financial also issued estimates for Cumulus Media’s Q4 2024 earnings at ($0.57) EPS and FY2025 earnings at ($3.85) EPS.

Separately, StockNews.com initiated coverage on shares of Cumulus Media in a report on Tuesday. They set a “hold” rating for the company.

Cumulus Media Price Performance

Shares of CMLS opened at $0.87 on Wednesday. Cumulus Media has a 12 month low of $0.87 and a 12 month high of $5.51. The company has a debt-to-equity ratio of 3.55, a current ratio of 1.88 and a quick ratio of 1.88. The stock has a fifty day moving average price of $1.36 and a 200 day moving average price of $1.88. The company has a market cap of $14.74 million, a P/E ratio of -0.10 and a beta of 1.45.

Cumulus Media (NASDAQ:CMLS) last issued its earnings results on Friday, November 1st. The company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.07). The company had revenue of $203.60 million during the quarter, compared to analyst estimates of $204.05 million. Cumulus Media had a negative net margin of 18.11% and a negative return on equity of 29.38%. During the same quarter in the previous year, the firm earned $0.16 earnings per share.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC boosted its stake in Cumulus Media by 3.9% during the 2nd quarter. Acadian Asset Management LLC now owns 426,220 shares of the company’s stock valued at $868,000 after purchasing an additional 15,920 shares in the last quarter. Balanced Rock Investment Advisors LLC lifted its position in shares of Cumulus Media by 12.7% during the 2nd quarter. Balanced Rock Investment Advisors LLC now owns 90,579 shares of the company’s stock valued at $185,000 after acquiring an additional 10,228 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Cumulus Media during the first quarter valued at $303,000. Finally, Empowered Funds LLC acquired a new position in shares of Cumulus Media in the first quarter worth about $54,000. 48.68% of the stock is currently owned by 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.