Cumulus Media (NASDAQ:CMLS) announced its quarterly earnings results on Monday. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.45, Fidelity Earnings reports. Cumulus Media had a return on equity of 20.45% and a net margin of 8.76%. The company had revenue of $280.81 million during the quarter, compared to analysts’ expectations of $270.00 million.
Shares of NASDAQ:CMLS traded up $0.41 on Tuesday, reaching $14.01. The company had a trading volume of 400 shares, compared to its average volume of 44,083. Cumulus Media has a twelve month low of $9.70 and a twelve month high of $20.00. The stock has a 50-day moving average price of $13.71 and a 200 day moving average price of $15.55. The stock has a market capitalization of $193.47 million, a P/E ratio of 3.42 and a beta of 1.57. The company has a quick ratio of 2.81, a current ratio of 2.81 and a debt-to-equity ratio of 2.76.
CMLS has been the subject of a number of analyst reports. B. Riley set a $19.00 price target on Cumulus Media and gave the stock a “hold” rating in a research report on Wednesday, August 21st. Noble Financial reaffirmed a “buy” rating and issued a $26.00 price target on shares of Cumulus Media in a research report on Friday, August 9th. ValuEngine cut Cumulus Media from a “sell” rating to a “strong sell” rating in a research report on Friday, November 1st. Finally, Zacks Investment Research raised Cumulus Media from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $18.50.
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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