Cumulus Media Inc. - (CMLS) Social Stream
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$AUD I paid $3.41 on Friday. Clearly whomever is selling today didn't listen to the conference call. $IHRT took a beating too on Friday after posting pretty good results. $CMLS went down after posting solid results then the stock recovered.Jayfe1, published August 9, 2021
Selling isn't always rational. The Delta Variant news could be a reason to sell but it will soon fade like it did in India and the UK.
I am looking for $1.6B in Revenue in 2022 with around 21% EBITDA margins for around $340B in EBITDA. At an 8X EBITDA multiple it gets the stock to about $8 per share.
I am looking for $1.7B in Revenue in 2023 based on a full economic recover, huge growth in online sports betting, concerts fully back, growth in podcasting and digital streaming. I think margins will grow to around 24% which equates to $408M in EBITDA. With strong steady growth and a paydown of debt the stock will command a 10X EBITDA multiple. This would get the stock to $18 per share.
My estimates might turn out to be conservative.
I'll wait ..
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