Equities analysts forecast that Cumulus Media Inc (NASDAQ:CMLS) will post $1.58 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Cumulus Media’s earnings. The business is scheduled to issue its next quarterly earnings report on Thursday, August 8th.

On average, analysts expect that Cumulus Media will report full year earnings of $2.73 per share for the current fiscal year. For the next fiscal year, analysts anticipate that the firm will report earnings of $3.22 per share, with EPS estimates ranging from $2.71 to $3.73. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that cover Cumulus Media.

Cumulus Media (NASDAQ:CMLS) last posted its earnings results on Thursday, May 9th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.09). The business had revenue of $267.50 million during the quarter, compared to analysts’ expectations of $263.54 million.

A number of equities analysts have weighed in on CMLS shares. B. Riley reissued a “buy” rating on shares of LightPath Technologies in a research report on Tuesday, May 7th. Zacks Investment Research downgraded ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday, July 10th. Noble Financial set a $26.00 price target on Cumulus Media and gave the stock a “buy” rating in a research report on Friday, May 10th. Finally, ValuEngine upgraded Zogenix from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Cumulus Media currently has a consensus rating of “Hold” and an average target price of $20.50.

Several institutional investors and hedge funds have recently modified their holdings of CMLS. Benefit Street Partners LLC bought a new position in Cumulus Media in the 1st quarter valued at about $894,000. Tibra Equities Europe Ltd bought a new position in shares of Cumulus Media during the 1st quarter worth approximately $431,000. Marshall Wace LLP bought a new stake in shares of Cumulus Media in the 1st quarter worth approximately $374,000. Spark Investment Management LLC bought a new stake in shares of Cumulus Media in the 1st quarter worth approximately $189,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of Cumulus Media in the 1st quarter worth approximately $30,000. Institutional investors own 93.01% of the company’s stock.

CMLS traded down $0.38 on Thursday, hitting $17.07. 58,906 shares of the company were exchanged, compared to its average volume of 70,682. Cumulus Media has a 12 month low of $9.70 and a 12 month high of $26.00. The company has a debt-to-equity ratio of 3.37, a quick ratio of 3.25 and a current ratio of 3.25. The company has a fifty day moving average price of $17.32.

About Cumulus Media

Cumulus Media Inc owns and operates radio stations in the United States. The company operates through two segments, Cumulus Radio Station Group and Westwood One. It sells broadcasting time on its owned or operated stations to local, regional, and national advertisers; and network advertising. The company offers content through approximately 433 owned-and-operated stations in 88 United States media markets; and approximately 8,000 broadcast radio stations affiliates and various digital channels.

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