Brokers Issue Forecasts for Cumulus Media FY2024 Earnings

Cumulus Media Inc. (NASDAQ:CMLS) – Investment analysts at Barrington Research dropped their FY2024 earnings per share (EPS) estimates for shares of Cumulus Media in a report issued on Monday, November 4th. Barrington Research analyst J. Goss now expects that the company will earn ($2.72) per share for the year, down from their previous forecast of ($2.55). The consensus estimate for Cumulus Media’s current full-year earnings is ($2.42) per share. Barrington Research also issued estimates for Cumulus Media’s Q4 2024 earnings at ($0.58) EPS, Q1 2025 earnings at ($1.17) EPS, Q2 2025 earnings at ($0.35) EPS, Q3 2025 earnings at ($0.48) EPS, Q4 2025 earnings at ($0.64) EPS, FY2025 earnings at ($2.63) EPS, Q1 2026 earnings at ($0.91) EPS, Q2 2026 earnings at ($0.07) EPS, Q3 2026 earnings at ($0.26) EPS and FY2026 earnings at ($1.44) EPS.

Separately, StockNews.com assumed coverage on shares of Cumulus Media in a report on Tuesday. They set a “hold” rating for the company.

Cumulus Media Price Performance

Shares of NASDAQ:CMLS opened at $0.88 on Thursday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 3.55. The stock has a market capitalization of $14.90 million, a PE ratio of -0.10 and a beta of 1.45. The firm’s 50 day moving average price is $1.35 and its 200-day moving average price is $1.87. Cumulus Media has a twelve month low of $0.86 and a twelve month high of $5.51.

Cumulus Media (NASDAQ:CMLS) last posted its earnings results on Friday, November 1st. The company reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.07). The firm had revenue of $203.60 million during the quarter, compared to the consensus estimate of $204.05 million. Cumulus Media had a negative net margin of 18.11% and a negative return on equity of 29.38%. During the same period in the prior year, the company posted $0.16 EPS.

Institutional Trading of Cumulus Media

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC increased its holdings in Cumulus Media by 9.6% in the 1st quarter. Acadian Asset Management LLC now owns 410,300 shares of the company’s stock worth $1,472,000 after acquiring an additional 36,024 shares in the last quarter. Empowered Funds LLC bought a new position in shares of Cumulus Media in the first quarter worth approximately $54,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Cumulus Media in the first quarter worth approximately $303,000. Finally, Balanced Rock Investment Advisors LLC increased its stake in shares of Cumulus Media by 12.7% in the second quarter. Balanced Rock Investment Advisors LLC now owns 90,579 shares of the company’s stock worth $185,000 after purchasing an additional 10,228 shares in the last quarter. Hedge funds and other institutional investors own 48.68% of the company’s stock.

About Cumulus Media

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.