$92.72 Million in Sales Expected for Townsquare Media Inc (TSQ) This Quarter
Wall Street brokerages forecast that Townsquare Media Inc (NYSE:TSQ) will announce $92.72 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Townsquare Media’s earnings, with the lowest sales estimate coming in at $92.39 million and the highest estimate coming in at $93.05 million. Townsquare Media posted sales of $94.23 million during the same quarter last year, which suggests a negative year-over-year growth rate of 1.6%. The business is scheduled to announce its next earnings report on Tuesday, May 14th.
According to Zacks, analysts expect that Townsquare Media will report full year sales of $446.40 million for the current fiscal year, with estimates ranging from $446.10 million to $446.70 million. For the next financial year, analysts anticipate that the company will post sales of $478.53 million, with estimates ranging from $469.75 million to $487.31 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Townsquare Media.
Townsquare Media (NYSE:TSQ) last released its earnings results on Tuesday, March 12th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.01. The company had revenue of $108.96 million for the quarter, compared to analysts’ expectations of $104.88 million. Townsquare Media had a positive return on equity of 7.17% and a negative net margin of 7.32%.
NYSE TSQ traded up $0.12 during trading hours on Tuesday, reaching $5.96. The company’s stock had a trading volume of 24,327 shares, compared to its average volume of 33,899. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 1.63. Townsquare Media has a 52 week low of $3.95 and a 52 week high of $9.79. The stock has a market capitalization of $111.58 million, a P/E ratio of 5.79, a P/E/G ratio of 0.47 and a beta of 2.11.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 2nd will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Monday, April 1st. This represents a $0.30 dividend on an annualized basis and a dividend yield of 5.03%. Townsquare Media’s dividend payout ratio (DPR) is presently 29.13%.
In other news, Director David Lebow sold 6,700 shares of Townsquare Media stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $5.34, for a total transaction of $35,778.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 26.70% of the company’s stock.
Large investors have recently made changes to their positions in the stock. O Shaughnessy Asset Management LLC acquired a new stake in shares of Townsquare Media during the 4th quarter valued at $54,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Townsquare Media by 25.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,098 shares of the company’s stock valued at $82,000 after buying an additional 4,100 shares during the period. ClariVest Asset Management LLC acquired a new stake in shares of Townsquare Media during the 4th quarter valued at $86,000. Virtu Financial LLC acquired a new stake in shares of Townsquare Media during the 3rd quarter valued at $101,000. Finally, Northern Trust Corp boosted its stake in shares of Townsquare Media by 79.8% during the 4th quarter. Northern Trust Corp now owns 38,589 shares of the company’s stock valued at $157,000 after buying an additional 17,132 shares during the period. 41.63% of the stock is currently owned by hedge funds and other institutional investors.
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. 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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