Wall Street analysts expect Townsquare Media Inc (NYSE:TSQ) to announce $112.59 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Townsquare Media’s earnings, with estimates ranging from $111.16 million to $114.40 million. Townsquare Media reported sales of $164.11 million during the same quarter last year, which would suggest a negative year over year growth rate of 31.4%. The firm is expected to issue its next quarterly earnings report on Tuesday, November 6th.
On average, analysts expect that Townsquare Media will report full year sales of $429.13 million for the current fiscal year, with estimates ranging from $425.48 million to $434.20 million. For the next fiscal year, analysts forecast that the firm will post sales of $430.90 million, with estimates ranging from $425.74 million to $435.90 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow Townsquare Media.
Townsquare Media (NYSE:TSQ) last announced its quarterly earnings results on Wednesday, August 8th. The company reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.09. Townsquare Media had a negative net margin of 7.70% and a positive return on equity of 7.07%. The business had revenue of $119.58 million for the quarter, compared to analysts’ expectations of $115.56 million.
TSQ has been the topic of several recent analyst reports. Zacks Investment Research cut shares of Townsquare Media from a “strong-buy” rating to a “hold” rating in a research report on Thursday. ValuEngine raised shares of Townsquare Media from a “sell” rating to a “hold” rating in a research report on Tuesday, August 28th. Finally, Noble Financial reissued a “buy” rating on shares of Townsquare Media in a research report on Wednesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. Townsquare Media has an average rating of “Hold” and an average target price of $9.80.
Several hedge funds have recently modified their holdings of TSQ. Millennium Management LLC purchased a new stake in shares of Townsquare Media during the 2nd quarter worth approximately $1,637,000. Acadian Asset Management LLC purchased a new position in Townsquare Media in the 2nd quarter valued at approximately $966,000. Dimensional Fund Advisors LP grew its stake in Townsquare Media by 26.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 488,076 shares of the company’s stock valued at $3,158,000 after buying an additional 101,534 shares in the last quarter. Paloma Partners Management Co purchased a new position in Townsquare Media in the 2nd quarter valued at approximately $278,000. Finally, Gamco Investors INC. ET AL grew its stake in Townsquare Media by 22.5% in the 2nd quarter. Gamco Investors INC. ET AL now owns 144,500 shares of the company’s stock valued at $935,000 after buying an additional 26,500 shares in the last quarter. Institutional investors own 42.98% of the company’s stock.
Shares of Townsquare Media stock traded down $0.20 during mid-day trading on Friday, hitting $7.74. 21,200 shares of the stock were exchanged, compared to its average volume of 68,464. Townsquare Media has a 12 month low of $6.03 and a 12 month high of $10.50. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 1.59. The stock has a market cap of $147.95 million, a P/E ratio of 10.70, a P/E/G ratio of 1.87 and a beta of 1.37.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, September 27th will be paid a dividend of $0.075 per share. The ex-dividend date is Wednesday, September 26th. This represents a $0.30 annualized dividend and a dividend yield of 3.88%. Townsquare Media’s payout ratio is currently 40.54%.
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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