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Cumulus Media (CMLS) Gets a Buy Rating from Barrington

In a report released today, James Goss from Barrington reiterated a Buy rating on Cumulus Media (CMLSResearch Report), with a price target of $21.00. The company’s shares closed last Wednesday at $8.99.

According to TipRanks.com, Goss is ranked 0 out of 5 stars with an average return of -6.9% and a 37.6% success rate. Goss covers the Services sector, focusing on stocks such as Lions Gate Entertainment Class A, Paramount Global Class B, and Clear Channel Outdoor.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Cumulus Media with a $24.00 average price target.

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Based on Cumulus Media’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $232 million and GAAP net loss of $905K. In comparison, last year the company earned revenue of $202 million and had a GAAP net loss of $21.92 million.

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Cumulus Media, Inc. engages in the business of radio broadcasting. It operates through the following segments: Radio Station Group, Westwood One, and Corporate and Other. The Radio Station Group segment includes the sale of broadcasting time to local, regional, and national advertisers. The Westwood One segment covers the revenues generated primarily through network advertising. The Corporate and Other segment consists of the overall executive, administrative, and support functions for each of the company’s reportable segments, including finance and administration, legal, human resources, and information technology functions. The company is headquartered in Atlanta, GA.

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