Cumulus Media (NASDAQ:CMLS – Get Free Report) announced its earnings results on Friday. The company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.49) by ($0.19), Zacks reports. The business had revenue of $204.85 million for the quarter, compared to analyst estimates of $206.00 million. Cumulus Media had a negative net margin of 13.18% and a negative return on equity of 16.78%. During the same quarter in the prior year, the business earned ($0.06) earnings per share.
Cumulus Media Stock Down 18.6 %
NASDAQ:CMLS traded down $0.37 during mid-day trading on Friday, reaching $1.62. The stock had a trading volume of 118,199 shares, compared to its average volume of 33,847. The company has a debt-to-equity ratio of 3.22, a current ratio of 1.98 and a quick ratio of 1.98. The company has a market capitalization of $27.36 million, a price-to-earnings ratio of -0.24 and a beta of 1.47. Cumulus Media has a 1-year low of $1.29 and a 1-year high of $5.51. The stock’s 50 day simple moving average is $2.05 and its two-hundred day simple moving average is $3.03.
Analyst Ratings Changes
Separately, StockNews.com assumed coverage on Cumulus Media in a research note on Thursday. They set a “hold” rating for the company.
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.
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