Friday, March 22, 2019
Cumulus Media (CMLS)
Raising our price target on a simple premise.
Cumulus Media, Inc., a radio broadcasting company, engages in the acquisition, operation, and development of commercial radio stations in mid-size radio markets in the United States. It owns and operates FM and AM radio station clusters that serve mid-sized markets. The company, through its investment in Cumulus Media Partners, LLC, also operates radio station clusters serving large-sized markets.
Michael Kupinski, DOR, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to full report for price target, fundamental analysis and rating.
- Q4 over delivers. The company over delivered on its Q4 despite the
preannouncement for the quarter. Revenues and adjusted EBITDA were better than
expected, at $309.2 million and $66.6 million, respectively, compared to our
revenue and adjusted EBITDA estimates of $303.7 million and $57.4 million,
respectively. The better than expected revenue grow was driven primarily on the
strength of its digital business and a lift from political advertising. - Q1 shows improvement. Management indicated that advertising pacings in Q1
2019 is improving, better than its preliminary guidance in its preannounced
fourth quarter. Rev…
Get full report on Channelchek desktop.
*Analyst
certification and important disclosures included in full report.
NOTE: investment decisions should not be based upon the content of
this research summary. Proper due diligence is required before
making any investment decision.
