Shares of Cumulus Media Inc (NASDAQ:CMLS) have earned an average broker rating score of 2.00 (Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company.
Brokers have set a twelve-month consensus price objective of $23.00 for the company and are forecasting that the company will post $0.77 earnings per share for the current quarter, according to Zacks. Zacks has also given Cumulus Media an industry rank of 175 out of 256 based on the ratings given to related companies.
A number of analysts recently issued reports on CMLS shares. B. Riley started coverage on Cumulus Media in a research note on Tuesday, May 7th. They set a “neutral” rating and a $20.00 price objective on the stock. Noble Financial reiterated a “buy” rating and set a $26.00 price objective on shares of Cumulus Media in a research note on Friday. ValuEngine lowered Cumulus Media from a “hold” rating to a “sell” rating in a research note on Thursday, June 27th. Finally, Zacks Investment Research upgraded Cumulus Media from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 10th.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Beach Point Capital Management LP increased its position in Cumulus Media by 25.0% during the 2nd quarter. Beach Point Capital Management LP now owns 660,376 shares of the company’s stock valued at $12,250,000 after buying an additional 132,006 shares in the last quarter. Russell Investments Group Ltd. increased its position in Cumulus Media by 30.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 380,176 shares of the company’s stock valued at $7,044,000 after buying an additional 87,927 shares in the last quarter. Benefit Street Partners LLC bought a new position in Cumulus Media during the 1st quarter valued at approximately $894,000. Strs Ohio bought a new position in Cumulus Media during the 2nd quarter valued at approximately $639,000. Finally, Charles Schwab Investment Management Inc. bought a new position in Cumulus Media during the 2nd quarter valued at approximately $547,000. Institutional investors and hedge funds own 77.98% of the company’s stock.
Shares of CMLS traded down $0.11 during mid-day trading on Friday, hitting $14.51. The stock had a trading volume of 362,512 shares, compared to its average volume of 82,589. The company has a market capitalization of $247.38 million and a price-to-earnings ratio of 3.71. The stock’s fifty day moving average price is $16.65. 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 52 week low of $9.70 and a 52 week high of $20.99.
Cumulus Media (NASDAQ:CMLS) last released its quarterly earnings data on Thursday, August 8th. The company reported $2.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.53. Cumulus Media had a return on equity of 21.26% and a net margin of 8.76%. The company had revenue of $279.67 million for the quarter, compared to analyst estimates of $284.13 million. As a group, research analysts predict that Cumulus Media will post 2.73 earnings per share for the current year.
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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