Noble Financial Reduces Earnings Estimates for Cumulus Media

Cumulus Media Inc. (NASDAQ:CMLS) – Research analysts at Noble Financial decreased their FY2024 earnings per share estimates for Cumulus Media in a note issued to investors on Monday, November 4th. Noble Financial analyst M. Kupinski now expects that the company will earn ($2.70) per share for the year, down from their previous estimate of ($2.29). The consensus estimate for Cumulus Media’s current full-year earnings is ($2.42) per share. Noble Financial also issued estimates for Cumulus Media’s Q4 2024 earnings at ($0.57) EPS and FY2025 earnings at ($3.85) EPS.

Separately, StockNews.com began coverage on Cumulus Media in a research note on Tuesday. They set a “hold” rating for the company.

Cumulus Media Price Performance

CMLS opened at $0.87 on Wednesday. Cumulus Media has a 1 year low of $0.87 and a 1 year high of $5.51. The company has a debt-to-equity ratio of 3.55, a quick ratio of 1.88 and a current ratio of 1.88. The company’s 50 day simple moving average is $1.36 and its 200 day simple moving average is $1.88. The stock has a market capitalization of $14.74 million, a PE ratio of -0.10 and a beta of 1.45.

Cumulus Media (NASDAQ:CMLS) last issued its quarterly earnings results on Friday, November 1st. The company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates 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 return on equity of 29.38% and a negative net margin of 18.11%. During the same quarter last year, the firm earned $0.16 earnings per share.

Institutional Investors Weigh In On Cumulus Media

Large investors have recently modified their holdings of the stock. Empowered Funds LLC purchased a new position in Cumulus Media in the 1st quarter worth approximately $54,000. Balanced Rock Investment Advisors LLC boosted its stake in shares of Cumulus Media by 24.5% in the first quarter. Balanced Rock Investment Advisors LLC now owns 80,351 shares of the company’s stock valued at $288,000 after purchasing an additional 15,820 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in Cumulus Media during the 1st quarter valued at $303,000. Finally, Acadian Asset Management LLC increased its stake in Cumulus Media by 9.6% during the 1st quarter. Acadian Asset Management LLC now owns 410,300 shares of the company’s stock worth $1,472,000 after buying an additional 36,024 shares during the period. Institutional investors and hedge funds 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.