Brokers Issue Forecasts for Cumulus Media FY2024 Earnings

Cumulus Media Inc. (NASDAQ:CMLS) – Equities research analysts at Barrington Research reduced 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 forecasts that the company will post earnings per share of ($2.72) for the year, down from their prior 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.

Cumulus Media (NASDAQ:CMLS) last announced its quarterly earnings data on Friday, November 1st. The company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.54) by ($0.07). The firm had revenue of $203.60 million for the quarter, compared to analysts’ expectations 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 business posted $0.16 EPS.

Separately, StockNews.com assumed coverage on Cumulus Media in a research note on Tuesday. They issued a “hold” rating on the stock.

Cumulus Media Stock Performance

Shares of 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 cap of $14.90 million, a P/E ratio of -0.10 and a beta of 1.45. The business’s 50 day moving average price is $1.35 and its 200-day moving average price is $1.87. Cumulus Media has a 52 week low of $0.86 and a 52 week high of $5.51.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CMLS. Acadian Asset Management LLC raised its holdings in Cumulus Media by 3.9% in the 2nd quarter. Acadian Asset Management LLC now owns 426,220 shares of the company’s stock worth $868,000 after acquiring an additional 15,920 shares during the last quarter. Balanced Rock Investment Advisors LLC lifted its holdings in shares of Cumulus Media by 12.7% during the second 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 in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Cumulus Media during the first quarter valued at $303,000. Finally, Empowered Funds LLC bought a new stake in Cumulus Media in the 1st quarter worth about $54,000. 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.