Brokers Offer Predictions for Townsquare Media Inc.’s Q2 2017 Earnings (TSQ)
Townsquare Media Inc. (NYSE:TSQ) – Investment analysts at Jefferies Group boosted their Q2 2017 earnings estimates for shares of Townsquare Media in a report released on Tuesday. Jefferies Group analyst J. Janedis now expects that the brokerage will post earnings of $0.26 per share for the quarter, up from their previous forecast of $0.23. Jefferies Group has a “Buy” rating and a $10.00 price objective on the stock. Jefferies Group also issued estimates for Townsquare Media’s Q2 2018 earnings at $0.30 EPS.
Townsquare Media (NYSE:TSQ) last posted its earnings results on Tuesday, November 8th. The company reported $0.67 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.67. Townsquare Media had a net margin of 4.37% and a return on equity of 6.79%. The firm had revenue of $165.80 million for the quarter, compared to analyst estimates of $172.94 million.
Separately, Zacks Investment Research raised shares of Townsquare Media from a “sell” rating to a “hold” rating in a report on Wednesday, October 12th.
Shares of Townsquare Media (NYSE:TSQ) opened at 8.48 on Wednesday. The company has a market capitalization of $155.98 million, a price-to-earnings ratio of 12.06 and a beta of 1.75. The firm’s 50-day moving average is $9.07 and its 200-day moving average is $8.96. Townsquare Media has a 12-month low of $7.30 and a 12-month high of $12.05.
In other news, Chairman Steven Price purchased 50,000 shares of the stock in a transaction dated Tuesday, August 16th. The shares were purchased at an average cost of $7.20 per share, with a total value of $360,000.00. Following the completion of the acquisition, the chairman now owns 60,737 shares in the company, valued at approximately $437,306.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. 26.20% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in the company. Teachers Advisors Inc. increased its stake in shares of Townsquare Media by 12.5% in the second quarter. Teachers Advisors Inc. now owns 14,404 shares of the company’s stock worth $114,000 after buying an additional 1,597 shares during the last quarter. Nationwide Fund Advisors increased its stake in shares of Townsquare Media by 149.9% in the second quarter. Nationwide Fund Advisors now owns 16,436 shares of the company’s stock worth $130,000 after buying an additional 9,859 shares during the last quarter. California State Teachers Retirement System increased its stake in shares of Townsquare Media by 25.1% in the second quarter. California State Teachers Retirement System now owns 18,109 shares of the company’s stock worth $143,000 after buying an additional 3,638 shares during the last quarter. BlackRock Inc. increased its stake in shares of Townsquare Media by 21,678.8% in the second quarter. BlackRock Inc. now owns 22,650 shares of the company’s stock worth $179,000 after buying an additional 22,546 shares during the last quarter. Finally, Weber Alan W purchased a new stake in shares of Townsquare Media during the second quarter worth about $199,000. 68.78% of the stock is currently owned by hedge funds and other institutional investors.
Townsquare Media Company Profile
Townsquare Media, Inc is a media, entertainment and digital marketing solutions company principally focused on small and mid-sized markets across the United States. The Company operates through two segments: Local Advertising and Live Events. The Company’s Local Advertising segment offers broadcast, digital and mobile advertising within its local markets.
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