Royal Bank Of Canada Lowers Townsquare Media, Inc. (TSQ) Price Target to $10.00
Townsquare Media, Inc. (NYSE:TSQ) had its target price trimmed by Royal Bank Of Canada from $12.00 to $10.00 in a research report released on Monday morning, Marketbeat Ratings reports. The firm currently has an outperform rating on the stock.
TSQ has been the topic of a number of other research reports. Noble Financial restated a buy rating on shares of Townsquare Media in a report on Friday, November 10th. Bank of America Corporation lowered shares of Townsquare Media from a buy rating to an underperform rating in a report on Friday, September 29th. Jefferies Group LLC restated a buy rating and issued a $13.00 target price on shares of Townsquare Media in a report on Tuesday, September 12th. Zacks Investment Research upgraded shares of Townsquare Media from a hold rating to a buy rating and set a $12.00 target price on the stock in a report on Wednesday, July 19th. Finally, Stephens lowered shares of Townsquare Media from an overweight rating to an equal weight rating in a report on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $11.67.
Shares of Townsquare Media (NYSE TSQ) traded down $0.03 during midday trading on Monday, hitting $7.03. 146,000 shares of the stock traded hands, compared to its average volume of 58,146. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 1.38. Townsquare Media has a 52-week low of $7.02 and a 52-week high of $13.01. The firm has a market capitalization of $130.45, a price-to-earnings ratio of 9.41, a P/E/G ratio of 2.19 and a beta of 1.74.
Townsquare Media (NYSE:TSQ) last posted its earnings results on Tuesday, November 7th. The company reported $0.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.08). Townsquare Media had a return on equity of 5.74% and a net margin of 3.81%. The business had revenue of $164.11 million during the quarter, compared to analyst estimates of $168.49 million. sell-side analysts forecast that Townsquare Media will post 0.81 earnings per share for the current fiscal year.
A number of hedge funds have recently modified their holdings of the business. Boston Partners grew its position in Townsquare Media by 428.1% in the 2nd quarter. Boston Partners now owns 229,702 shares of the company’s stock worth $2,352,000 after purchasing an additional 186,202 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Townsquare Media by 25.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 228,862 shares of the company’s stock worth $2,289,000 after purchasing an additional 46,919 shares in the last quarter. Northern Trust Corp grew its position in Townsquare Media by 132.3% in the 2nd quarter. Northern Trust Corp now owns 212,102 shares of the company’s stock worth $2,172,000 after purchasing an additional 120,796 shares in the last quarter. Algert Global LLC grew its position in Townsquare Media by 17.3% in the 3rd quarter. Algert Global LLC now owns 177,240 shares of the company’s stock worth $1,772,000 after purchasing an additional 26,177 shares in the last quarter. Finally, State Street Corp grew its position in Townsquare Media by 10.6% in the 2nd quarter. State Street Corp now owns 141,635 shares of the company’s stock worth $1,447,000 after purchasing an additional 13,570 shares in the last quarter. 48.42% of the stock is owned by institutional investors and hedge funds.
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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