$1.19 Earnings Per Share Expected for Cumulus Media Inc (NASDAQ:CMLS) This Quarter

Brokerages expect Cumulus Media Inc (NASDAQ:CMLS) to post earnings of $1.19 per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Cumulus Media’s earnings, with the lowest EPS estimate coming in at $0.79 and the highest estimate coming in at $1.58. The business is scheduled to report its next quarterly earnings report on Thursday, August 8th.

According to Zacks, analysts expect that Cumulus Media will report full year earnings of $2.37 per share for the current year, with EPS estimates ranging from $2.01 to $2.73. For the next year, analysts forecast that the company will report earnings of $3.22 per share, with EPS estimates ranging from $2.71 to $3.73. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for Cumulus Media.

Cumulus Media (NASDAQ:CMLS) last posted its quarterly earnings data on Monday, March 18th. The company reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.48. The company had revenue of $309.18 million for the quarter, compared to analysts’ expectations of $303.66 million.

A number of research firms recently issued reports on CMLS. B. Riley began coverage on shares of Cumulus Media in a report on Tuesday, May 7th. They set a “neutral” rating and a $20.00 price objective for the company. Noble Financial set a $26.00 price objective on shares of Cumulus Media and gave the stock a “buy” rating in a report on Friday, May 10th. Finally, Zacks Investment Research upgraded shares of Cumulus Media from a “hold” rating to a “strong-buy” rating and set a $22.00 price objective for the company in a report on Tuesday, March 26th. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $20.50.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Beach Point Capital Management LP bought a new stake in Cumulus Media during the fourth quarter valued at about $6,067,000. Zazove Associates LLC lifted its stake in shares of Cumulus Media by 44.3% in the fourth quarter. Zazove Associates LLC now owns 394,666 shares of the company’s stock valued at $4,341,000 after buying an additional 121,068 shares during the period. Tibra Equities Europe Ltd bought a new stake in shares of Cumulus Media in the first quarter valued at about $431,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Cumulus Media in the first quarter valued at about $30,000. Finally, Spark Investment Management LLC bought a new stake in shares of Cumulus Media in the first quarter valued at about $189,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

NASDAQ CMLS opened at $17.45 on Tuesday. Cumulus Media has a 52-week low of $9.70 and a 52-week high of $26.00. The company has a debt-to-equity ratio of 3.37, a current ratio of 3.25 and a quick ratio of 3.25.

About Cumulus Media

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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