Townsquare Media, Inc. (NYSE:TSQ) to Issue $0.20 Quarterly Dividend

Townsquare Media, Inc. (NYSE:TSQ) declared a quarterly dividend on Thursday, May 9th, Zacks reports. Stockholders of record on Monday, July 15th will be given a dividend of 0.198 per share on Thursday, August 1st. This represents a $0.79 annualized dividend and a dividend yield of 6.57%. The ex-dividend date of this dividend is Monday, July 15th.

Townsquare Media has a dividend payout ratio of 59.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Townsquare Media to earn $1.33 per share next year, which means the company should continue to be able to cover its $0.79 annual dividend with an expected future payout ratio of 59.4%.

Townsquare Media Price Performance

TSQ stock traded down $0.14 on Friday, hitting $12.06. 9,051 shares of the company’s stock traded hands, compared to its average volume of 53,954. Townsquare Media has a 1-year low of $8.00 and a 1-year high of $13.57. The stock has a market cap of $200.59 million, a price-to-earnings ratio of -4.45, a P/E/G ratio of 0.68 and a beta of 1.33. The stock has a fifty day moving average of $11.66 and a 200-day moving average of $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.

Townsquare Media (NYSE:TSQ) last issued its quarterly earnings results on Friday, March 15th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.26 by $0.08. Townsquare Media had a negative net margin of 9.90% and a positive return on equity of 55.40%. The business had revenue of $114.79 million during the quarter, compared to the consensus estimate of $111.78 million. On average, analysts forecast that Townsquare Media will post 1.54 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Noble Financial increased their target price on shares of Townsquare Media from $20.00 to $21.00 and gave the stock an “outperform” rating in a research report on Monday, April 1st. Barrington Research restated an “outperform” rating and set a $17.00 price target on shares of Townsquare Media in a research note on Thursday. Guggenheim increased their price target 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. Finally, StockNews.com upgraded shares of Townsquare Media from a “hold” rating to a “buy” rating in a research note on Friday, April 19th.

Insider Transactions at Townsquare Media

In related news, COO Erik Hellum sold 3,380 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $11.03, for a total value of $37,281.40. Following the transaction, the chief operating officer now directly owns 736,736 shares in the company, valued at approximately $8,126,198.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Erik Hellum sold 3,380 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $11.03, for a total value of $37,281.40. Following the transaction, the chief operating officer now directly owns 736,736 shares in the company, valued at approximately $8,126,198.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gary L. Ginsberg sold 15,000 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $11.68, for a total transaction of $175,200.00. Following the completion of the sale, the director now owns 100,164 shares in the company, valued at $1,169,915.52. The disclosure for this sale can be found here. Insiders have sold a total of 2,886,934 shares of company stock worth $35,653,276 in the last 90 days. 34.90% of the stock is owned by insiders.

Townsquare Media Company Profile

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.