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

Townsquare Media, Inc. (NYSE:TSQ) declared a quarterly dividend on Monday, March 16th. Shareholders of record on Monday, April 27th will be paid a dividend of 0.20 per share on Monday, May 4th. This represents a c) dividend on an annualized basis and a yield of 13.1%. The ex-dividend date of this dividend is Monday, April 27th.

Townsquare Media has raised its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 3 consecutive years. Townsquare Media has a payout ratio of 71.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Townsquare Media to earn $1.29 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 62.0%.

Townsquare Media Stock Down 12.3%

NYSE:TSQ traded down $0.86 on Monday, hitting $6.12. The stock had a trading volume of 491,325 shares, compared to its average volume of 176,007. The company has a fifty day moving average price of $6.55 and a two-hundred day moving average price of $6.16. Townsquare Media has a 1-year low of $4.30 and a 1-year high of $9.31. The stock has a market cap of $100.77 million, a price-to-earnings ratio of 5.94, a PEG ratio of 0.92 and a beta of 0.95.

Wall Street Analyst Weigh In

TSQ has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Townsquare Media in a report on Monday, December 29th. Wall Street Zen lowered Townsquare Media from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Townsquare Media has a consensus rating of “Hold” and a consensus price target of $16.50.

Townsquare Media Company Profile

Townsquare Media, Inc (NYSE: TSQ) is a diversified media and entertainment company that operates primarily in small and mid-sized markets across the United States. The company owns and manages over 300 local radio stations that deliver music, news, sports and community programming to listeners. In addition to its core broadcasting business, Townsquare Media provides digital marketing solutions and advertising services through its proprietary platforms and specialized agencies, helping local businesses connect with consumers via targeted online campaigns.

Founded in 2010 and headquartered in Purchase, New York, Townsquare Media has grown its footprint through strategic acquisitions and the development of a broad digital portfolio.