Q1 2024 Earnings Estimate for Cumulus Media Inc. (NASDAQ:CMLS) Issued By Noble Financial

Cumulus Media Inc. (NASDAQ:CMLS) – Stock analysts at Noble Financial increased their Q1 2024 EPS estimates for Cumulus Media in a research report issued on Monday, April 22nd. Noble Financial analyst M. Kupinski now expects that the company will earn ($1.56) per share for the quarter, up from their previous estimate of ($1.70). Noble Financial currently has a “Market Perform” rating on the stock. The consensus estimate for Cumulus Media’s current full-year earnings is ($1.76) per share. Noble Financial also issued estimates for Cumulus Media’s Q2 2024 earnings at ($0.50) EPS, Q3 2024 earnings at ($0.16) EPS, Q4 2024 earnings at ($0.07) EPS, FY2024 earnings at ($2.29) EPS and FY2025 earnings at ($2.43) EPS.

Separately, Barrington Research downgraded shares of Cumulus Media from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 28th.

Cumulus Media Stock Performance

CMLS stock opened at $2.68 on Thursday. The firm has a market cap of $44.68 million, a price-to-earnings ratio of -0.38 and a beta of 1.49. The firm has a 50-day simple moving average of $3.40 and a two-hundred day simple moving average of $4.38. Cumulus Media has a one year low of $2.57 and a one year high of $6.59. The company has a debt-to-equity ratio of 3.06, a quick ratio of 2.00 and a current ratio of 2.00.

Cumulus Media (NASDAQ:CMLS) last released its quarterly earnings results on Tuesday, February 27th. The company reported ($2.60) EPS for the quarter, missing the consensus estimate of ($0.59) by ($2.01). The firm had revenue of $221.30 million for the quarter, compared to analysts’ expectations of $220.07 million. Cumulus Media had a negative net margin of 13.96% and a negative return on equity of 17.50%.

Hedge Funds Weigh In On Cumulus Media

Hedge funds have recently modified their holdings of the stock. Stokes Family Office LLC acquired a new position in shares of Cumulus Media during the third quarter valued at about $52,000. Quadrature Capital Ltd acquired a new position in Cumulus Media in the 4th quarter worth approximately $57,000. Aristeia Capital LLC acquired a new position in Cumulus Media in the 3rd quarter worth approximately $105,000. First Eagle Investment Management LLC acquired a new position in Cumulus Media in the 4th quarter worth approximately $117,000. Finally, Ritholtz Wealth Management acquired a new position in Cumulus Media in the 4th quarter worth approximately $145,000. Institutional investors and hedge funds own 48.68% of the company’s stock.

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.