Cumulus Media Inc. (NASDAQ: CMLS) Expected to Announce Quarterly Sales of $ 237.03 Million


Wall Street brokerages predict that Cumulus Media Inc. (NASDAQ: CMLS – Get Rating) will post $ 237.03 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Cumulus Media’s earnings, with estimates ranging from $ 235.00 million to $ 238.10 million. Cumulus Media reported sales of $ 224.72 million in the same quarter last year, which indicates a positive year over year growth rate of 5.5%. The firm is scheduled to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Cumulus Media will report full-year sales of $ 999.88 million for the current year, with estimates ranging from $ 986.03 million to $ 1.01 billion. For next year, analysts anticipate that the firm will report sales of $ 1.03 billion, with estimates ranging from $ 998.90 million to $ 1.05 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that provide coverage for Cumulus Media.

Cumulus Media (NASDAQ: CMLS – Get Rating) last issued its earnings results on Wednesday, February 23rd. The company reported $ 0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $ 0.73 by ($ 0.53). The firm had revenue of $ 252.30 million for the quarter, compared to analysts’ expectations of $ 253.65 million. Cumulus Media had a return on equity of 3.63% and a net margin of 4.04%. During the same quarter in the previous year, the firm posted ($ 0.01) EPS.

CMLS has been the subject of a number of analyst reports. StockNews.com initiated coverage on Cumulus Media in a report on Tuesday, April 19th. They issued a “buy” rating for the company. Barrington Research initiated coverage on Cumulus Media in a report on Thursday, May 5th. They issued an “outperform” rating and a $ 21.00 price target for the company. Zacks Investment Research upgraded Cumulus Media from a “strong sell” rating to a “hold” rating and set a $ 18.00 price target for the company in a report on Thursday, May 5th. Finally, B. Riley upped their price target on Cumulus Media from $ 23.00 to $ 26.00 in a report on Thursday, February 24th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $ 23.00.

In other Cumulus Media news, insider David Edward Milner sold 3,000 shares of the stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $ 13.62, for a total value of $ 40,860.00. Following the sale, the insider now directly owns 81,062 shares of the company’s stock, valued at $ 1,104,064.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Richard Denning sold 2,500 shares of the stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $ 13.71, for a total value of $ 34,275.00. Following the completion of the sale, the executive vice president now directly owns 78,252 shares in the company, valued at $ 1,072,834.92. The disclosure for this sale can be found here. Corporate insiders own 3.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of CMLS. Calamos Advisors LLC grew its stake in shares of Cumulus Media by 12.9% in the fourth quarter. Calamos Advisors LLC now owns 33,469 shares of the company’s stock worth $ 377,000 after purchasing an additional 3,820 shares in the last quarter. Barclays PLC grew its stake in shares of Cumulus Media by 13.9% in the third quarter. Barclays PLC now owns 18,065 shares of the company’s stock worth $ 221,000 after purchasing an additional 2,207 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Cumulus Media by 2.1% in the third quarter. Geode Capital Management LLC now owns 170,138 shares of the company’s stock worth $ 2,084,000 after purchasing an additional 3,567 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Cumulus Media by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 373,669 shares of the company’s stock worth $ 4,204,000 after purchasing an additional 2,748 shares in the last quarter. Finally, CastleKnight Management LP bought a new position in shares of Cumulus Media in the fourth quarter worth $ 235,000. 70.90% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ CMLS opened at $ 12.82 on Friday. The stock has a market cap of $ 264.35 million, a PE ratio of 7.01 and a beta of 1.42. Cumulus Media has a fifty-two week low of $ 9.42 and a fifty-two week high of $ 15.67. The business has a 50 day moving average price of $ 12.03 and a two-hundred day moving average price of $ 11.63. The company has a quick ratio of 2.89, a current ratio of 2.89 and a debt-to-equity ratio of 2.40.

About Cumulus Media (Get Rating)

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.

Further Reading

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



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