Townsquare Media Inc (TSQ) Forecasted to Post Q3 2019 Earnings of $0.28 Per Share
Townsquare Media Inc (NYSE:TSQ) – Investment analysts at Barrington Research cut their Q3 2019 earnings estimates for Townsquare Media in a research report issued on Monday, May 13th. Barrington Research analyst J. Goss now expects that the company will earn $0.28 per share for the quarter, down from their prior forecast of $0.41. Barrington Research also issued estimates for Townsquare Media’s FY2020 earnings at $1.15 EPS and FY2021 earnings at $1.30 EPS.
TSQ has been the topic of several other reports. ValuEngine lowered shares of Townsquare Media from a “sell” rating to a “strong sell” rating in a report on Wednesday, February 13th. Noble Financial reiterated a “buy” rating and set a $12.00 price objective on shares of Townsquare Media in a report on Thursday, March 14th. Zacks Investment Research lowered shares of Townsquare Media from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Royal Bank of Canada set a $8.00 price objective on shares of Townsquare Media and gave the stock a “buy” rating in a report on Tuesday, March 26th.
Townsquare Media (NYSE:TSQ) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.09 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.09. The business had revenue of $93.68 million for the quarter, compared to analyst estimates of $92.72 million. Townsquare Media had a negative net margin of 2.43% and a positive return on equity of 8.52%.
A number of institutional investors and hedge funds have recently bought and sold shares of TSQ. O Shaughnessy Asset Management LLC acquired a new stake in Townsquare Media during the 4th quarter worth approximately $54,000. NJ State Employees Deferred Compensation Plan acquired a new stake in Townsquare Media during the 1st quarter worth approximately $57,000. Parametric Portfolio Associates LLC acquired a new stake in Townsquare Media in the first quarter valued at approximately $74,000. Connor Clark & Lunn Investment Management Ltd. grew its position in Townsquare Media by 25.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,098 shares of the company’s stock valued at $82,000 after acquiring an additional 4,100 shares in the last quarter. Finally, ClariVest Asset Management LLC acquired a new stake in Townsquare Media in the fourth quarter valued at approximately $86,000. 40.97% of the stock is owned by hedge funds and other institutional investors.
In related news, Director David Lebow sold 6,700 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $5.34, for a total transaction of $35,778.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 24.80% of the stock is currently owned by corporate insiders.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Friday, June 28th will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date of this dividend is Thursday, June 27th. Townsquare Media’s dividend payout ratio (DPR) is presently 29.13%.
Townsquare Media Company Profile
Townsquare Media, Inc operates as a radio, digital media, entertainment, and digital marketing solutions company in small and mid-sized markets. The company provides advertising and marketing solutions to advertisers and businesses through its radio stations, Websites, radio stations' online streams, and mobile applications.
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