Townsquare Media (NYSE:TSQ) Announces Earnings Results, Misses Estimates By $0.02 EPS

Townsquare Media (NYSE:TSQ) released its earnings results on Thursday. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02), Zacks reports. The company had revenue of $99.63 million during the quarter, compared to analysts’ expectations of $98.46 million. Townsquare Media had a negative net margin of 9.90% and a positive return on equity of 55.40%. During the same quarter last year, the business posted $0.08 earnings per share. Townsquare Media updated its FY 2024 guidance to EPS and its Q2 2024 guidance to EPS.

Townsquare Media Stock Performance

Shares of NYSE TSQ traded down $0.19 during midday trading on Friday, reaching $12.01. 42,021 shares of the company were exchanged, compared to its average volume of 54,341. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 50.41. Townsquare Media has a 1 year low of $8.00 and a 1 year high of $13.57. The stock has a fifty day simple moving average of $11.66 and a 200 day simple moving average of $10.68. The stock has a market cap of $199.76 million, a P/E ratio of -4.45, a PEG ratio of 0.68 and a beta of 1.33.

Townsquare Media Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Monday, July 15th will be issued a dividend of $0.198 per share. This represents a $0.79 dividend on an annualized basis and a dividend yield of 6.59%. The ex-dividend date of this dividend is Monday, July 15th. Townsquare Media’s dividend payout ratio is currently -28.83%.

Insider Buying and Selling

In related news, EVP Claire Marie Yenicay sold 31,048 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $12.36, for a total transaction of $383,753.28. Following the transaction, the executive vice president now owns 190,191 shares of the company’s stock, valued at $2,350,760.76. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Stuart B. Rosenstein sold 782,840 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $12.36, for a total transaction of $9,675,902.40. Following the sale, the chief financial officer now owns 492,663 shares of the company’s stock, valued at approximately $6,089,314.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Claire Marie Yenicay sold 31,048 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $12.36, for a total value of $383,753.28. Following the sale, the executive vice president now directly owns 190,191 shares in the company, valued at approximately $2,350,760.76. The disclosure for this sale can be found here. Insiders have sold a total of 2,886,934 shares of company stock valued at $35,653,276 over the last quarter. 34.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TSQ has been the topic of a number of analyst reports. Guggenheim raised their price target on Townsquare Media from $12.00 to $12.50 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Barrington Research restated an “outperform” rating and issued a $17.00 price target on shares of Townsquare Media in a research note on Thursday. Noble Financial lifted their target price on Townsquare Media from $20.00 to $21.00 and gave the stock an “outperform” rating in a research report on Monday, April 1st. Finally, StockNews.com upgraded Townsquare Media from a “hold” rating to a “buy” rating in a research report on Friday, April 19th.

About Townsquare Media

Townsquare Media, Inc operates as a digital media and marketing solutions company in small and medium-sized businesses. It operates through three segments: Subscription Digital Marketing Solutions, Digital Advertising, and Broadcast Advertising. The Subscription Digital Marketing Solutions segment offers website design, creation, and development, as well as hosting services; and search engine optimization, online directory optimization, e-commerce solutions, online reputation monitoring, social media management, appointment scheduling, payment and invoice, customer management, and email and SMS marketing services.