Townsquare Media Inc. Forecasted to Post FY2016 Earnings of $1.04 Per Share (TSQ)
Townsquare Media Inc. (NYSE:TSQ) – Equities researchers at Jefferies Group upped their FY2016 earnings estimates for Townsquare Media in a note issued to investors on Tuesday. Jefferies Group analyst J. Janedis now anticipates that the brokerage will post earnings of $1.04 per share for the year, up from their previous forecast of $1.02. Jefferies Group currently has a “Buy” rating and a $10.00 target price on the stock. Jefferies Group also issued estimates for Townsquare Media’s Q4 2016 earnings at $0.21 EPS, Q1 2017 earnings at ($0.05) EPS, Q3 2017 earnings at $0.73 EPS, FY2017 earnings at $1.13 EPS, Q1 2018 earnings at ($0.03) EPS, Q3 2018 earnings at $0.80 EPS and FY2018 earnings at $1.34 EPS.
Separately, Zacks Investment Research upgraded Townsquare Media from a “sell” rating to a “hold” rating in a research note on Tuesday, August 9th.
Shares of Townsquare Media (NYSE:TSQ) opened at 8.70 on Friday. The stock’s 50 day moving average price is $9.02 and its 200 day moving average price is $8.94. Townsquare Media has a 12 month low of $7.30 and a 12 month high of $12.05. The firm has a market cap of $160.03 million, a price-to-earnings ratio of 12.38 and a beta of 1.75.
Townsquare Media (NYSE:TSQ) last issued its earnings results on Tuesday, November 8th. The company reported $0.67 earnings per share for the quarter, hitting the consensus estimate of $0.67. Townsquare Media had a return on equity of 6.70% and a net margin of 4.37%. The business had revenue of $165.80 million for the quarter, compared to analyst estimates of $172.94 million.
In related news, Chairman Steven Price bought 50,000 shares of the firm’s stock in a transaction dated Tuesday, August 16th. The stock was bought at an average price of $7.20 per share, with a total value of $360,000.00. Following the completion of the transaction, the chairman now directly owns 60,737 shares of the company’s stock, valued at $437,306.40. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 26.20% of the stock is owned by insiders.
Large investors have recently modified their holdings of 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 valued at $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 valued at $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 valued at $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 valued at $179,000 after buying an additional 22,546 shares during the last quarter. Finally, Weber Alan W bought a new stake in shares of Townsquare Media during the second quarter valued at $199,000. 68.78% of the stock is owned by institutional investors.
About Townsquare Media
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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