Townsquare Media (NYSE:TSQ) Releases Earnings Results, Misses Expectations By $0.02 EPS

Townsquare Media (NYSE:TSQ) posted its quarterly earnings data on Thursday. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.02), Zacks reports. The company had revenue of $99.63 million during the quarter, compared to the consensus estimate of $98.46 million. Townsquare Media had a positive return on equity of 55.40% and a negative net margin of 9.90%. During the same quarter last year, the company 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

NYSE:TSQ traded down $0.19 during mid-day trading on Friday, reaching $12.01. The company’s stock had a trading volume of 42,021 shares, compared to its average volume of 54,341. Townsquare Media has a 12-month low of $8.00 and a 12-month high of $13.57. The firm’s fifty day moving average price is $11.66 and its two-hundred day moving average price is $10.68. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 50.41. 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 Dividend Announcement

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

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, COO Erik Hellum sold 5,000 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $10.95, for a total transaction of $54,750.00. Following the completion of the sale, the chief operating officer now owns 718,222 shares of the company’s stock, valued at approximately $7,864,530.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Townsquare Media news, EVP Claire Marie Yenicay sold 31,048 shares of the company’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 completion of the transaction, the executive vice president now directly owns 190,191 shares in the company, valued at approximately $2,350,760.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Erik Hellum sold 5,000 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $10.95, for a total value of $54,750.00. Following the transaction, the chief operating officer now owns 718,222 shares of the company’s stock, valued at $7,864,530.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,886,934 shares of company stock valued at $35,653,276. 34.90% of the stock is owned by insiders.

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.