Cumulus Media Inc. (NASDAQ:CMLS) to Post Q3 2024 Earnings of ($0.64) Per Share, Barrington Research Forecasts

Cumulus Media Inc. (NASDAQ:CMLS) – Research analysts at Barrington Research dropped their Q3 2024 earnings per share estimates for Cumulus Media in a research report issued on Monday, August 5th. Barrington Research analyst J. Goss now anticipates that the company will post earnings of ($0.64) per share for the quarter, down from their previous estimate of ($0.44). The consensus estimate for Cumulus Media’s current full-year earnings is ($1.91) per share. Barrington Research also issued estimates for Cumulus Media’s Q4 2024 earnings at ($0.35) EPS, FY2024 earnings at ($2.52) EPS, Q1 2025 earnings at ($1.19) EPS, Q2 2025 earnings at ($0.39) EPS, Q3 2025 earnings at ($0.54) EPS, Q4 2025 earnings at ($0.43) EPS, FY2025 earnings at ($2.54) EPS, Q1 2026 earnings at ($0.99) EPS, Q2 2026 earnings at ($0.16) EPS and FY2026 earnings at ($1.49) EPS.

Separately, StockNews.com began coverage on Cumulus Media in a report on Friday. They issued a “hold” rating on the stock.

Cumulus Media Trading Up 7.1 %

CMLS stock traded up $0.10 during trading on Thursday, hitting $1.51. The company had a trading volume of 14,202 shares, compared to its average volume of 53,517. The business has a 50-day moving average of $1.97 and a 200-day moving average of $2.93. Cumulus Media has a one year low of $1.29 and a one year high of $5.51. The stock has a market cap of $25.50 million, a PE ratio of -0.23 and a beta of 1.47. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 3.22.

Cumulus Media (NASDAQ:CMLS) last announced its earnings results on Friday, August 2nd. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.19). Cumulus Media had a negative net margin of 13.18% and a negative return on equity of 16.78%. The company had revenue of $204.85 million during the quarter, compared to the consensus estimate of $206.00 million. During the same quarter in the previous year, the company earned ($0.06) earnings per share.

Hedge Funds Weigh In On Cumulus Media

A number of institutional investors have recently modified their holdings of CMLS. Empowered Funds LLC purchased a new stake in Cumulus Media in the 1st quarter valued at $54,000. Quadrature Capital Ltd bought a new position in Cumulus Media in the 4th quarter valued at $57,000. First Eagle Investment Management LLC bought a new position in Cumulus Media in the 4th quarter valued at $117,000. Balanced Rock Investment Advisors LLC grew its stake in Cumulus Media by 12.7% in the 2nd quarter. Balanced Rock Investment Advisors LLC now owns 90,579 shares of the company’s stock valued at $185,000 after purchasing an additional 10,228 shares during the period. Finally, Jacobs Levy Equity Management Inc. bought a new position in Cumulus Media in the 1st quarter valued at $303,000. 48.68% of the stock is owned by institutional investors and hedge funds.

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.