FY2024 EPS Estimates for Cumulus Media Inc. Cut by Analyst (NASDAQ:CMLS)


Cumulus Media Inc. (NASDAQ:CMLS – Get Rating) – Analysts at Barrington Research dropped their FY2024 earnings per share (EPS) estimates for Cumulus Media in a research note issued to investors on Thursday, August 11th. Barrington Research analyst J. Goss now expects that the company will post earnings of $2.94 per share for the year, down from their previous forecast of $3.05. The consensus estimate for Cumulus Media’s current full-year earnings is $1.74 per share.

Separately, StockNews.com cut Cumulus Media from a “buy” rating to a “hold” rating in a research report on Thursday, August 4th.

Cumulus Media Trading Up 3.4%

NASDAQ CMLS opened at $9.42 on Monday. The company has a market cap of $179.19 million, a price-to-earnings ratio of 3.71 and a beta of 1.53. Cumulus Media has a 52 week low of $6.46 and a 52 week high of $15.67. The business has a 50-day moving average price of $8.41 and a 200-day moving average price of $10.52. The company has a quick ratio of 2.56, a current ratio of 2.56 and a debt-to-equity ratio of 2.36.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC raised its stake in shares of Cumulus Media by 181.0% in the second quarter. Renaissance Technologies LLC now owns 144,700 shares of the company’s stock valued at $1,119,000 after buying an additional 93,200 shares during the period. American International Group Inc. bought a new stake in shares of Cumulus Media during the 2nd quarter valued at $67,000. Northern Trust Corp raised its stake in shares of Cumulus Media by 264.7% during the 2nd quarter. Northern Trust Corp now owns 162,488 shares of the company’s stock valued at $1,257,000 after purchasing an additional 117,933 shares during the period. Bardin Hill Management Partners LP bought a new stake in shares of Cumulus Media during the 2nd quarter valued at $635,000. Finally, BNP Paribas Arbitrage SA raised its stake in shares of Cumulus Media by 36.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,847 shares of the company’s stock valued at $37,000 after purchasing an additional 1,293 shares during the period. Hedge funds and other institutional investors own 70.90% of the company’s stock.

About Cumulus Media

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Cumulus Media Inc, an audio-first media company, owns and operates radio stations in the United States. It owns and operates 406 stations in 86 markets, as well as approximately 9,500 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, the AP, the Academy of Country Music Awards, and other partners.

See Also

Earnings History and Estimates for Cumulus Media (NASDAQ:CMLS)



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