RBC Capital Lowers Cumulus Media Price Target to $6.00 (CMLS)
Equities research analysts at RBC Capital reduced their price target on shares of Cumulus Media (NASDAQ:CMLS) from $9.00 to $6.00 in a research note issued to investors on Friday. RBC Capital’s price objective points to a potential upside of 33.93% from the stock’s previous close.
Separately, analysts at Sidoti initiated coverage on shares of Cumulus Media in a research note on Thursday, June 19th. They set a “buy” rating on the stock.
In other Cumulus Media news, CEO Lewis W. Dickey, Jr. purchased 25,000 shares of the stock in a transaction dated Friday, August 8th. The shares were purchased at an average cost of $4.29 per share, with a total value of $107,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Cumulus Media (NASDAQ:CMLS) opened at 4.48 on Friday. Cumulus Media has a 52-week low of $4.15 and a 52-week high of $8.19. The stock’s 50-day moving average is $5.88 and its 200-day moving average is $6.38. The company has a market cap of $975.1 million and a price-to-earnings ratio of 5.93.
Cumulus Media (NASDAQ:CMLS) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.06 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.13 by $0.07. The company had revenue of $328.20 million for the quarter, compared to the consensus estimate of $330.55 million. Cumulus Media’s revenue was up 21.4% compared to the same quarter last year. On average, analysts predict that Cumulus Media will post $0.39 earnings per share for the current fiscal year.
Cumulus Media Inc (NASDAQ:CMLS) owns and operates commercial radio station clusters throughout the United States.
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