Analysts fell to the sidelines weighing in on Cumulus Media Inc (CMLS) and Ship Finance International (SFL) with neutral ratings, indicating that the experts are neither bullish nor bearish on the stocks.
Cumulus Media Inc (CMLS)
In a report released today, Zachary Silver from B.Riley FBR maintained a Hold rating on Cumulus Media Inc, with a price target of $19. The company’s shares closed last Monday at $15.40.
Silver noted:
“We are updating estimates for Cumulus Media’s (CMLS—Neutral, $19 PT) 2Q19 earnings results, as well as the pending sale of NYC AM station WABC to for $12.5M. We are encouraged by the ongoing progress CMLS is making towards deleveraging and we also adjust for expense trends that have come in better than our previous expectations. A blemish in the quarter was the 3Q19 pacings update for the network business (Westwood), which CMLS said on the call was pacing down QTD. This is a notable change after several years of relatively healthy mid-single-digit network ad sales growth. CMLS said that network pacings can be lumpy intraquarter. But, for now, we are modestly lowering our long-term outlook for the Westwood segment.”
According to TipRanks.com, Silver is a 1-star analyst with an average return of -0.9% and a 43.2% success rate. Silver covers the Services sector, focusing on stocks such as Liberty Media Corporation Series C Liberty Formula One, Entercom Communications, and Nexstar Media Group Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Cumulus Media Inc with a $22.50 average price target.
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Ship Finance International (SFL)
In a report released today, Liam Burke from B.Riley FBR maintained a Hold rating on Ship Finance International, with a price target of $13.50. The company’s shares closed last Monday at $13.21.
Burke observed:
“Limited (SFL) reported 2Q19 results with a Y/Y revenue decline of 4.8% but adjusted EBITDA (including 100% owned associates) of $120.9 million, compared with adjusted EBITDA of $107.7 million in 2Q18. The company’s backlog now stands at $3.7 billion, and the current backlog provides good visibility into future cash flows. For 2Q19, net cash provided by operating activities was $45.0 million, compared with $48.6 million a year ago. SFL continues to generate consistent cash flow that is supported primarily by long- and medium- term contracts. SFL shares yield 10.6%, and the company continues to opportunistically invest in fleet assets and generate solid returns on its fleet assets. We are maintaining our Neutral rating and $13.50 price target on SFL shares.”
According to TipRanks.com, Burke is ranked #4612 out of 5240 analysts.
Currently, the analyst consensus on Ship Finance International is a Hold with an average price target of $13.50.
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