Cumulus Media (NASDAQ:CMLS) Releases Earnings Results

Cumulus Media (NASDAQ:CMLS) issued its earnings results on Thursday. The company reported $2.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.58 by $0.53, Morningstar.com reports. The firm had revenue of $279.67 million for the quarter, compared to the consensus estimate of $284.13 million. Cumulus Media had a return on equity of 21.26% and a net margin of 8.76%.

Shares of CMLS stock traded down $0.11 during mid-day trading on Friday, hitting $14.51. The company’s stock had a trading volume of 362,512 shares, compared to its average volume of 82,589. The stock’s fifty day simple moving average is $16.65. Cumulus Media has a 52 week low of $9.70 and a 52 week high of $20.99. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 3.37. The company has a market cap of $247.38 million and a P/E ratio of 3.71.

A number of equities research analysts have weighed in on CMLS shares. B. Riley started coverage on Cumulus Media in a report on Tuesday, May 7th. They issued a “neutral” rating and a $20.00 target price on the stock. Noble Financial reaffirmed a “buy” rating and issued a $26.00 target price on shares of Cumulus Media in a report on Friday. ValuEngine downgraded Cumulus Media from a “hold” rating to a “sell” rating in a report on Thursday, June 27th. Finally, Zacks Investment Research raised Cumulus Media from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $20.50.

Hedge funds have recently bought and sold shares of the company. Oppenheimer Asset Management Inc. bought a new stake in Cumulus Media in the 1st quarter valued at about $30,000. Spark Investment Management LLC bought a new stake in Cumulus Media in the 1st quarter valued at about $189,000. Benefit Street Partners LLC bought a new stake in Cumulus Media in the 1st quarter valued at about $894,000. Marshall Wace LLP bought a new stake in Cumulus Media in the 1st quarter valued at about $374,000. Finally, Charles Schwab Investment Management Inc. bought a new stake in Cumulus Media in the 2nd quarter valued at about $547,000. 77.98% of the stock is owned by hedge funds and other institutional investors.

Cumulus Media Company Profile

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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Earnings History for Cumulus Media (NASDAQ:CMLS)

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