$105.58 Million in Sales Expected for Townsquare Media Inc (TSQ) This Quarter
Analysts predict that Townsquare Media Inc (NYSE:TSQ) will report $105.58 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Townsquare Media’s earnings, with estimates ranging from $104.65 million to $106.10 million. Townsquare Media reported sales of $114.26 million in the same quarter last year, which indicates a negative year over year growth rate of 7.6%. The business is expected to announce its next quarterly earnings results on Tuesday, March 12th.
According to Zacks, analysts expect that Townsquare Media will report full-year sales of $430.61 million for the current fiscal year, with estimates ranging from $427.70 million to $434.20 million. For the next year, analysts forecast that the company will post sales of $434.16 million, with estimates ranging from $430.90 million to $435.90 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Townsquare Media.
Townsquare Media (NYSE:TSQ) last issued its quarterly earnings results on Tuesday, November 6th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Townsquare Media had a positive return on equity of 6.11% and a negative net margin of 9.68%. The firm had revenue of $114.07 million for the quarter, compared to analyst estimates of $112.59 million.
Shares of Townsquare Media stock traded up $0.20 on Tuesday, reaching $6.31. 37,942 shares of the stock were exchanged, compared to its average volume of 48,556. Townsquare Media has a 1-year low of $6.03 and a 1-year high of $9.79. The company has a quick ratio of 2.27, a current ratio of 2.27 and a debt-to-equity ratio of 1.55. The firm has a market cap of $119.04 million, a price-to-earnings ratio of 8.53, a price-to-earnings-growth ratio of 1.71 and a beta of 1.38.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 15th. Shareholders of record on Thursday, December 27th will be given a dividend of $0.075 per share. The ex-dividend date is Wednesday, December 26th. This represents a $0.30 annualized dividend and a yield of 4.75%. Townsquare Media’s payout ratio is currently 40.54%.
In related news, Director Stephen A. Kaplan bought 10,000 shares of the stock in a transaction on Thursday, November 8th. The shares were bought at an average cost of $6.40 per share, for a total transaction of $64,000.00. Following the completion of the transaction, the director now owns 22,135 shares of the company’s stock, valued at approximately $141,664. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 26.70% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of TSQ. Millennium Management LLC acquired a new position in Townsquare Media during the second quarter worth about $1,637,000. Acadian Asset Management LLC acquired a new position in Townsquare Media during the second quarter worth about $966,000. Dimensional Fund Advisors LP grew its position in Townsquare Media by 26.3% during the second quarter. Dimensional Fund Advisors LP now owns 488,076 shares of the company’s stock worth $3,158,000 after buying an additional 101,534 shares during the period. JPMorgan Chase & Co. grew its position in Townsquare Media by 427.0% during the third quarter. JPMorgan Chase & Co. now owns 83,362 shares of the company’s stock worth $653,000 after buying an additional 67,545 shares during the period. Finally, Bailard Inc. acquired a new position in Townsquare Media during the third quarter worth about $404,000. Institutional investors own 43.01% of the company’s stock.
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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