Wall Street brokerages expect that Townsquare Media Inc (NYSE:TSQ) will post $115.98 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for Townsquare Media’s earnings. The lowest sales estimate is $115.60 million and the highest is $116.35 million. Townsquare Media reported sales of $140.66 million during the same quarter last year, which indicates a negative year over year growth rate of 17.5%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, August 8th.
According to Zacks, analysts expect that Townsquare Media will report full year sales of $421.88 million for the current financial year, with estimates ranging from $418.76 million to $425.00 million. For the next fiscal year, analysts expect that the firm will report sales of $414.80 million per share. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Townsquare Media.
Townsquare Media (NYSE:TSQ) last posted its quarterly earnings data on Tuesday, May 8th. The company reported ($0.12) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.02. Townsquare Media had a negative net margin of 6.69% and a positive return on equity of 5.73%. The business had revenue of $94.23 million for the quarter, compared to analyst estimates of $90.67 million.
A number of research firms recently weighed in on TSQ. Stephens set a $9.00 price target on shares of Townsquare Media and gave the stock a “hold” rating in a research note on Tuesday, March 13th. Barrington Research raised shares of Townsquare Media from a “market perform” rating to an “outperform” rating and set a $10.00 price target for the company in a research note on Tuesday, March 13th. Zacks Investment Research downgraded shares of Townsquare Media from a “hold” rating to a “sell” rating in a research note on Wednesday, May 30th. Noble Financial set a $11.00 price target on shares of Townsquare Media and gave the stock a “buy” rating in a research note on Friday, May 25th. Finally, TheStreet downgraded shares of Townsquare Media from a “c” rating to a “d+” rating in a research note on Thursday, April 5th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $10.83.
NYSE TSQ opened at $6.78 on Friday. Townsquare Media has a 12 month low of $6.03 and a 12 month high of $11.63. The company has a market cap of $122.50 million, a P/E ratio of 9.16, a P/E/G ratio of -3.68 and a beta of 1.16. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 1.57.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 15th. Shareholders of record on Thursday, June 28th will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 4.42%. The ex-dividend date is Wednesday, June 27th. Townsquare Media’s payout ratio is presently 40.54%.
In other news, CEO Dhruv Prasad bought 5,000 shares of the stock in a transaction on Monday, June 4th. The stock was purchased at an average price of $6.19 per share, with a total value of $30,950.00. Following the completion of the purchase, the chief executive officer now owns 5,000 shares of the company’s stock, valued at $30,950. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders acquired 8,500 shares of company stock valued at $53,360 in the last ninety days. Insiders own 25.40% of the company’s stock.
Large investors have recently modified their holdings of the business. Schwab Charles Investment Management Inc. boosted its holdings in shares of Townsquare Media by 74.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 38,699 shares of the company’s stock valued at $298,000 after buying an additional 16,537 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Townsquare Media by 16.7% in the fourth quarter. Renaissance Technologies LLC now owns 428,700 shares of the company’s stock valued at $3,292,000 after buying an additional 61,401 shares during the period. Deutsche Bank AG boosted its holdings in shares of Townsquare Media by 259.4% in the fourth quarter. Deutsche Bank AG now owns 110,749 shares of the company’s stock valued at $848,000 after buying an additional 79,937 shares during the period. Stone Ridge Asset Management LLC acquired a new position in shares of Townsquare Media in the fourth quarter valued at approximately $172,000. Finally, Two Sigma Advisers LP boosted its holdings in shares of Townsquare Media by 32.3% in the fourth quarter. Two Sigma Advisers LP now owns 47,900 shares of the company’s stock valued at $368,000 after buying an additional 11,700 shares during the period. 47.58% of the stock is owned by hedge funds and other institutional investors.
About Townsquare Media
Townsquare Media, Inc operates as a radio, digital media, entertainment, and digital marketing solutions company in small and mid-sized markets. It operates through two segments, Local Marketing Solutions and Entertainment. The Local Marketing Solutions segment provides broadcast and digital solutions to advertisers and businesses through its radio stations, Websites, radio stations' online streams, and mobile applications.
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