Cumulus Media Inc (NASDAQ:CMLS) has earned a consensus broker rating score of 2.00 (Buy) from the two brokers that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation and one has given a strong buy recommendation to the company. Cumulus Media’s rating score has declined by 100% in the last three months as a result of a number of analysts’ ratings changes.
Brokerages have set a 12-month consensus price objective of $23.00 for the company and are predicting that the company will post $1.58 EPS for the current quarter, according to Zacks. Zacks has also assigned Cumulus Media an industry rank of 185 out of 256 based on the ratings given to related companies.
CMLS has been the topic of several analyst reports. Noble Financial set a $26.00 price target on shares of Cumulus Media and gave the stock a “buy” rating in a report on Friday, March 22nd. Zacks Investment Research raised shares of Cumulus Media from a “hold” rating to a “strong-buy” rating and set a $22.00 price target on the stock in a report on Tuesday, March 26th. B. Riley initiated coverage on shares of Cumulus Media in a report on Tuesday, May 7th. They issued a “neutral” rating and a $20.00 price target on the stock. Finally, ValuEngine lowered shares of Cumulus Media from a “hold” rating to a “sell” rating in a report on Thursday, June 27th.
NASDAQ CMLS opened at $17.58 on Friday. The business has a fifty day moving average price of $17.27. The company has a debt-to-equity ratio of 3.37, a quick ratio of 3.25 and a current ratio of 3.25. Cumulus Media has a 12-month low of $9.70 and a 12-month high of $26.00.
Cumulus Media (NASDAQ:CMLS) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.09). The business had revenue of $267.50 million for the quarter, compared to analyst estimates of $263.54 million. Sell-side analysts anticipate that Cumulus Media will post 2.73 EPS for the current year.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Benefit Street Partners LLC purchased a new stake in shares of Cumulus Media during the first quarter valued at $894,000. Marshall Wace LLP purchased a new stake in shares of Cumulus Media during the first quarter valued at $374,000. Spark Investment Management LLC purchased a new stake in shares of Cumulus Media during the first quarter valued at $189,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Cumulus Media during the first quarter valued at $30,000. Finally, Tibra Equities Europe Ltd purchased a new stake in shares of Cumulus Media during the first quarter valued at $431,000. 93.01% of the stock is currently owned by hedge funds and other institutional investors.
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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